Zuora (NYSE:ZUO) Sees Large Volume Increase – Should You Buy?

Zuora, Inc. (NYSE:ZUO) saw unusually-high trading volume on Thursday . Approximately 4,368,767 shares traded hands during trading, an increase of 135% from the previous session’s volume of 1,860,993 shares.The stock last traded at $10.01 and had previously closed at $9.99.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ZUO. Needham & Company LLC restated a “hold” rating and set a $15.00 target price on shares of Zuora in a research report on Monday, October 21st. Lake Street Capital reiterated a “hold” rating and issued a $10.00 target price on shares of Zuora in a research note on Friday, October 18th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $11.33.

Zuora Price Performance

The stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of -20.45 and a beta of 1.67. The firm’s fifty day moving average is $9.96 and its 200-day moving average is $9.44. The company has a debt-to-equity ratio of 2.00, a current ratio of 2.62 and a quick ratio of 2.62.

Insider Buying and Selling at Zuora

In related news, CAO Matthew R. Dobson sold 2,908 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $9.93, for a total value of $28,876.44. Following the transaction, the chief accounting officer now directly owns 83,958 shares of the company’s stock, valued at approximately $833,702.94. This trade represents a 3.35 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Todd Mcelhatton sold 50,373 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $9.93, for a total transaction of $500,203.89. Following the transaction, the chief financial officer now directly owns 404,634 shares of the company’s stock, valued at approximately $4,018,015.62. This represents a 11.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 207,868 shares of company stock valued at $2,064,908 in the last quarter. Corporate insiders own 8.62% of the company’s stock.

Hedge Funds Weigh In On Zuora

A number of institutional investors have recently made changes to their positions in ZUO. Invesco Ltd. increased its position in Zuora by 1.1% in the 4th quarter. Invesco Ltd. now owns 101,720 shares of the company’s stock worth $1,009,000 after buying an additional 1,066 shares during the period. Arizona State Retirement System raised its stake in Zuora by 3.1% during the 4th quarter. Arizona State Retirement System now owns 39,425 shares of the company’s stock valued at $391,000 after purchasing an additional 1,197 shares during the last quarter. Palumbo Wealth Management LLC boosted its holdings in Zuora by 11.7% in the 3rd quarter. Palumbo Wealth Management LLC now owns 11,536 shares of the company’s stock valued at $99,000 after purchasing an additional 1,210 shares during the period. Legal & General Group Plc grew its position in Zuora by 1.1% in the 4th quarter. Legal & General Group Plc now owns 175,970 shares of the company’s stock worth $1,746,000 after purchasing an additional 1,903 shares during the last quarter. Finally, MetLife Investment Management LLC increased its holdings in shares of Zuora by 3.1% during the 3rd quarter. MetLife Investment Management LLC now owns 76,873 shares of the company’s stock worth $663,000 after purchasing an additional 2,303 shares during the period. 83.02% of the stock is currently owned by institutional investors.

Zuora Company Profile

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.