Zuora (NYSE:ZUO) Given New $11.00 Price Target at Goldman Sachs Group

Zuora (NYSE:ZUO) had its target price hoisted by Goldman Sachs Group from $10.00 to $11.00 in a research note issued to investors on Monday, The Fly reports.

Other analysts have also recently issued research reports about the company. Northland Securities assumed coverage on Zuora in a research report on Tuesday, June 16th. They set a market perform rating and a $14.50 target price on the stock. Zacks Investment Research upgraded Zuora from a sell rating to a hold rating in a research report on Tuesday, March 24th. Canaccord Genuity lifted their target price on Zuora from $15.00 to $19.00 and gave the stock a buy rating in a research report on Thursday, June 4th. They noted that the move was a valuation call. Needham & Company LLC assumed coverage on Zuora in a research report on Thursday, June 4th. They set a hold rating on the stock. Finally, ValuEngine cut Zuora from a strong-buy rating to a buy rating in a research report on Friday, April 17th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $14.38.

NYSE:ZUO opened at $12.84 on Monday. The firm has a market cap of $1.50 billion, a PE ratio of -18.08 and a beta of 2.20. The stock has a fifty day moving average price of $12.26 and a 200 day moving average price of $12.40. Zuora has a 12-month low of $6.21 and a 12-month high of $16.75. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.40.

Zuora (NYSE:ZUO) last released its earnings results on Wednesday, June 3rd. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.04. The firm had revenue of $73.90 million during the quarter, compared to analyst estimates of $70.65 million. Zuora had a negative return on equity of 48.78% and a negative net margin of 28.09%. Zuora’s revenue was up 15.3% compared to the same quarter last year. During the same period last year, the business posted ($0.11) earnings per share. Equities analysts forecast that Zuora will post -0.61 EPS for the current year.

In related news, SVP Brent R. Jr. Cromley sold 2,289 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $12.07, for a total value of $27,628.23. Following the sale, the senior vice president now owns 16,408 shares of the company’s stock, valued at approximately $198,044.56. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CRO Robert J. Traube sold 2,288 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $12.08, for a total value of $27,639.04. The disclosure for this sale can be found here. 26.02% of the stock is currently owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in the company. ArrowMark Colorado Holdings LLC increased its holdings in Zuora by 17.5% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 460,879 shares of the company’s stock valued at $6,604,000 after purchasing an additional 68,605 shares in the last quarter. Standard Life Aberdeen plc acquired a new stake in Zuora in the 4th quarter valued at $618,000. Goldman Sachs Group Inc. increased its holdings in Zuora by 431.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 449,234 shares of the company’s stock valued at $6,437,000 after purchasing an additional 364,696 shares in the last quarter. Schonfeld Strategic Advisors LLC acquired a new stake in Zuora in the 4th quarter valued at $165,000. Finally, Bank of New York Mellon Corp increased its holdings in Zuora by 4.3% in the 1st quarter. Bank of New York Mellon Corp now owns 394,306 shares of the company’s stock valued at $3,175,000 after purchasing an additional 16,306 shares in the last quarter. Institutional investors and hedge funds own 49.30% of the company’s stock.

About Zuora

Zuora, Inc 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 intelligent subscription management hub that automates the subscription order-to-cash process, including quoting, billing, collections, analytics, and revenue recognition.

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