Zuora (NYSE:ZUO) Issues FY 2023 Earnings Guidance

Zuora (NYSE:ZUOGet Rating) issued an update on its FY 2023 earnings guidance on Tuesday morning. The company provided EPS guidance of -$0.18–$0.14 for the period, compared to the consensus EPS estimate of -$0.16. The company issued revenue guidance of $394.00 million-$400.00 million, compared to the consensus revenue estimate of $402.82 million. Zuora also updated its Q3 2023 guidance to -$0.06–$0.05 EPS.

Zuora Trading Down 1.6 %

Shares of NYSE ZUO traded down $0.12 during midday trading on Friday, reaching $7.35. The stock had a trading volume of 36,086 shares, compared to its average volume of 1,339,418. The firm has a market cap of $969.47 million, a price-to-earnings ratio of -8.43 and a beta of 1.95. Zuora has a twelve month low of $7.36 and a twelve month high of $23.25. The company has a debt-to-equity ratio of 1.07, a quick ratio of 2.57 and a current ratio of 2.57. The company’s 50 day moving average price is $8.65 and its 200 day moving average price is $10.56.

Zuora (NYSE:ZUOGet Rating) last issued its quarterly earnings results on Wednesday, August 24th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. Zuora had a negative net margin of 29.89% and a negative return on equity of 56.71%. The firm had revenue of $98.80 million for the quarter, compared to the consensus estimate of $97.54 million. During the same quarter in the previous year, the company earned ($0.19) EPS. The company’s revenue for the quarter was up 14.2% on a year-over-year basis. As a group, sell-side analysts expect that Zuora will post -0.96 EPS for the current year.

Analyst Ratings Changes

Several research firms have weighed in on ZUO. Craig Hallum lowered their price objective on shares of Zuora from $22.00 to $16.00 in a report on Thursday, August 25th. Needham & Company LLC reduced their target price on shares of Zuora from $24.00 to $15.00 and set a buy rating for the company in a research note on Thursday, August 25th. Finally, Canaccord Genuity Group reduced their target price on shares of Zuora from $23.00 to $20.00 and set a buy rating for the company in a research note on Thursday, August 25th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $19.17.

Insider Buying and Selling at Zuora

In other Zuora news, CFO Todd Mcelhatton sold 18,136 shares of Zuora stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $8.93, for a total transaction of $161,954.48. Following the completion of the sale, the chief financial officer now directly owns 89,185 shares in the company, valued at $796,422.05. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Todd Mcelhatton sold 18,136 shares of the business’s stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $8.93, for a total value of $161,954.48. Following the completion of the sale, the chief financial officer now directly owns 89,185 shares in the company, valued at approximately $796,422.05. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Tien Tzuo sold 12,500 shares of the business’s stock in a transaction that occurred on Thursday, June 30th. The stock was sold at an average price of $8.88, for a total transaction of $111,000.00. The disclosure for this sale can be found here. Insiders sold a total of 93,483 shares of company stock worth $840,478 over the last three months. 9.08% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Hsbc Holdings PLC increased its position in Zuora by 5.9% during the 1st quarter. Hsbc Holdings PLC now owns 26,146 shares of the company’s stock valued at $396,000 after purchasing an additional 1,447 shares during the period. Macquarie Group Ltd. boosted its holdings in shares of Zuora by 1.0% during the 2nd quarter. Macquarie Group Ltd. now owns 177,905 shares of the company’s stock valued at $1,593,000 after buying an additional 1,846 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of Zuora by 1.0% during the 1st quarter. Bank of America Corp DE now owns 206,384 shares of the company’s stock valued at $3,092,000 after buying an additional 1,977 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Zuora by 5.6% during the 1st quarter. Invesco Ltd. now owns 67,373 shares of the company’s stock valued at $1,009,000 after buying an additional 3,583 shares in the last quarter. Finally, Ensign Peak Advisors Inc boosted its holdings in shares of Zuora by 61.6% during the 1st quarter. Ensign Peak Advisors Inc now owns 10,940 shares of the company’s stock valued at $164,000 after buying an additional 4,170 shares in the last quarter. 86.37% of the stock is owned by hedge funds and other institutional investors.

About Zuora

(Get Rating)

Zuora, Inc, together with its subsidiaries, provides cloud-based software on a subscription basis that enables companies in various industries to launch, manage, and transform into a subscription business. The company offers Zuora Central platform that acts as an orchestration engine that allows customers quote-to-revenue operations.

Read More

Earnings History and Estimates for Zuora (NYSE:ZUO)

Receive News & Ratings for Zuora Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zuora and related companies with MarketBeat.com's FREE daily email newsletter.