Zuora (NYSE:ZUO) Sees Unusually-High Trading Volume

Zuora, Inc. (NYSE:ZUO) saw an uptick in trading volume on Wednesday . 7,402,661 shares changed hands during trading, an increase of 420% from the previous session’s volume of 1,422,834 shares.The stock last traded at $9.71 and had previously closed at $8.47.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ZUO. Needham & Company LLC reiterated a “buy” rating and set a $15.00 price objective on shares of Zuora in a report on Thursday, February 29th. Robert W. Baird decreased their price objective on Zuora from $10.00 to $8.00 and set a “neutral” rating for the company in a report on Thursday, February 29th. Canaccord Genuity Group decreased their price objective on Zuora from $16.00 to $13.00 and set a “buy” rating for the company in a report on Thursday, February 29th. Finally, The Goldman Sachs Group upgraded Zuora from a “neutral” rating to a “buy” rating and increased their price objective for the company from $10.00 to $12.00 in a report on Tuesday, January 23rd.

Zuora Price Performance

The company has a market cap of $1.40 billion, a PE ratio of -20.04 and a beta of 1.90. The company has a debt-to-equity ratio of 2.69, a quick ratio of 2.43 and a current ratio of 2.43. The stock has a 50 day moving average of $8.65 and a 200-day moving average of $8.50.

Zuora (NYSE:ZUO) last issued its earnings results on Wednesday, February 28th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.10. The company had revenue of $110.67 million during the quarter, compared to analyst estimates of $110.80 million. Zuora had a negative return on equity of 46.38% and a negative net margin of 15.80%. Equities analysts predict that Zuora, Inc. will post -0.15 earnings per share for the current year.

Insiders Place Their Bets

In other Zuora news, insider Andrew M. Cohen sold 11,864 shares of the stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $8.61, for a total transaction of $102,149.04. Following the sale, the insider now directly owns 137,898 shares of the company’s stock, valued at approximately $1,187,301.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Zuora news, CEO Tien Tzuo sold 81,635 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $8.87, for a total transaction of $724,102.45. Following the sale, the chief executive officer now directly owns 6,352 shares of the company’s stock, valued at approximately $56,342.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Andrew M. Cohen sold 11,864 shares of the stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $8.61, for a total value of $102,149.04. Following the sale, the insider now directly owns 137,898 shares in the company, valued at $1,187,301.78. The disclosure for this sale can be found here. In the last three months, insiders have sold 224,952 shares of company stock valued at $1,951,070. Company insiders own 9.25% of the company’s stock.

Hedge Funds Weigh In On Zuora

Several institutional investors and hedge funds have recently modified their holdings of ZUO. JPMorgan Chase & Co. increased its stake in shares of Zuora by 41.7% in the 1st quarter. JPMorgan Chase & Co. now owns 640,724 shares of the company’s stock valued at $9,598,000 after purchasing an additional 188,563 shares in the last quarter. Raymond James & Associates increased its stake in shares of Zuora by 207.5% in the 1st quarter. Raymond James & Associates now owns 37,212 shares of the company’s stock valued at $557,000 after purchasing an additional 25,110 shares in the last quarter. Acadian Asset Management LLC increased its stake in shares of Zuora by 242.6% in the 1st quarter. Acadian Asset Management LLC now owns 22,435 shares of the company’s stock valued at $334,000 after purchasing an additional 15,887 shares in the last quarter. MetLife Investment Management LLC increased its stake in shares of Zuora by 56.8% in the 1st quarter. MetLife Investment Management LLC now owns 58,644 shares of the company’s stock valued at $878,000 after purchasing an additional 21,232 shares in the last quarter. Finally, BlackRock Inc. increased its stake in shares of Zuora by 1.5% in the 1st quarter. BlackRock Inc. now owns 8,274,224 shares of the company’s stock valued at $123,948,000 after purchasing an additional 125,301 shares in the last quarter. Hedge funds and other institutional investors own 83.02% of the company’s stock.

About Zuora

Zuora, Inc provides a monetization suite for modern businesses to help companies launch and scale new services and operate dynamic customer-centric business models. The company offers Zuora Billing that allows customers to deploy various pricing and packaging strategies to monetize their recurring revenue streams, bill customers, calculate prorations when subscriptions change, and automate billing and payment operations; Zuora Revenue, a revenue recognition and automation solution that accounting teams use to manage their complex revenue streams; Zuora Payments to provide payment orchestration services for companies looking to operate globally; and Zephr, a digital subscriber experience platform that helps companies orchestrate dynamic experiences that increase conversion, reduce churn, and nurture ongoing subscriber relationships.