Zuora (NYSE:ZUO) Releases Q2 Earnings Guidance

Zuora (NYSE:ZUOGet Rating) updated its second quarter earnings guidance on Wednesday. The company provided EPS guidance of $(0.06)-$(0.05) for the period, compared to the consensus EPS estimate of ($0.02). The company issued revenue guidance of $96.5-98.5 million, compared to the consensus revenue estimate of $99.45 million.Zuora also updated its FY 2023 guidance to -$0.19–$0.15 EPS.

Zuora stock traded up $0.47 during midday trading on Wednesday, hitting $9.54. The company’s stock had a trading volume of 2,252,827 shares, compared to its average volume of 1,219,562. The company has a market cap of $1.22 billion, a price-to-earnings ratio of -11.93 and a beta of 2.12. The company has a 50-day moving average price of $12.80 and a two-hundred day moving average price of $15.87. Zuora has a 1-year low of $8.92 and a 1-year high of $23.25.

Zuora (NYSE:ZUOGet Rating) last announced its quarterly earnings data on Wednesday, March 2nd. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.02). The firm had revenue of $90.69 million for the quarter, compared to analyst estimates of $90.28 million. Zuora had a negative net margin of 28.67% and a negative return on equity of 47.82%. During the same quarter in the prior year, the firm earned ($0.15) earnings per share. As a group, equities research analysts forecast that Zuora will post -0.77 earnings per share for the current fiscal year.

ZUO has been the subject of a number of research reports. Canaccord Genuity Group dropped their price target on Zuora from $27.00 to $23.00 and set a buy rating for the company in a research note on Thursday, March 3rd. Zacks Investment Research upgraded Zuora from a sell rating to a hold rating in a research report on Wednesday, May 4th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Buy and an average target price of $22.71.

In other news, CRO Robert J. Traube sold 12,109 shares of the company’s stock in a transaction on Tuesday, April 12th. The shares were sold at an average price of $13.97, for a total value of $169,162.73. Following the sale, the executive now directly owns 27,078 shares of the company’s stock, valued at approximately $378,279.66. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Sri Srinivasan sold 4,366 shares of Zuora stock in a transaction on Friday, April 1st. The stock was sold at an average price of $14.63, for a total transaction of $63,874.58. Following the transaction, the insider now directly owns 22,232 shares of the company’s stock, valued at approximately $325,254.16. The disclosure for this sale can be found here. Insiders sold 57,206 shares of company stock valued at $830,044 over the last 90 days. 9.08% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ZUO. Neo Ivy Capital Management bought a new stake in Zuora in the fourth quarter worth approximately $84,000. Ensign Peak Advisors Inc increased its stake in shares of Zuora by 61.6% in the 1st quarter. Ensign Peak Advisors Inc now owns 10,940 shares of the company’s stock valued at $164,000 after acquiring an additional 4,170 shares in the last quarter. Janus Henderson Group PLC bought a new stake in shares of Zuora in the 3rd quarter valued at $181,000. Royal Bank of Canada lifted its position in shares of Zuora by 24.3% during the 3rd quarter. Royal Bank of Canada now owns 12,287 shares of the company’s stock valued at $204,000 after acquiring an additional 2,402 shares during the period. Finally, XTX Topco Ltd bought a new position in Zuora during the first quarter worth $242,000. 83.85% of the stock is owned by institutional investors and hedge funds.

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.

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Earnings History and Estimates for Zuora (NYSE:ZUO)

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