Zuora (NYSE:ZUO) Updates Q3 2022 Earnings Guidance

Zuora (NYSE:ZUO) updated its third quarter 2022 earnings guidance on Wednesday. The company provided earnings per share guidance of $-0.030-$-0.020 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $-0.010. The company issued revenue guidance of $86 million-$87 million, compared to the consensus revenue estimate of $85.42 million.Zuora also updated its FY 2022 guidance to $-0.130-$-0.110 EPS.

Separately, Zacks Investment Research cut shares of Zuora from a hold rating to a sell rating in a report on Wednesday, September 1st.

Shares of NYSE ZUO opened at $16.95 on Wednesday. The stock has a market capitalization of $2.11 billion, a P/E ratio of -26.48 and a beta of 2.16. The company has a 50-day moving average price of $16.76 and a 200-day moving average price of $16.12. Zuora has a 1 year low of $9.27 and a 1 year high of $18.65.

Zuora (NYSE:ZUO) last issued its quarterly earnings data on Tuesday, August 24th. The company reported ($0.04) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.04). The firm had revenue of $86.50 million during the quarter, compared to analysts’ expectations of $83.41 million. Zuora had a negative net margin of 23.79% and a negative return on equity of 41.89%. Zuora’s quarterly revenue was up 15.3% compared to the same quarter last year. On average, research analysts forecast that Zuora will post -0.57 EPS for the current year.

In related news, CEO Tien Tzuo sold 5,000 shares of the business’s stock in a transaction dated Monday, August 30th. The shares were sold at an average price of $16.89, for a total transaction of $84,450.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Todd Mcelhatton sold 9,300 shares of the business’s stock in a transaction dated Monday, August 30th. The stock was sold at an average price of $16.90, for a total transaction of $157,170.00. Following the transaction, the chief financial officer now owns 26,602 shares in the company, valued at $449,573.80. The disclosure for this sale can be found here. Insiders have sold 239,852 shares of company stock valued at $4,048,999 over the last quarter. Corporate insiders own 12.58% of the company’s stock.

A hedge fund recently raised its stake in Zuora stock. Wells Fargo & Company MN boosted its position in shares of Zuora, Inc. (NYSE:ZUO) by 100.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 90,487 shares of the company’s stock after acquiring an additional 45,402 shares during the period. Wells Fargo & Company MN owned 0.07% of Zuora worth $1,561,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 64.30% of the company’s stock.

About Zuora

Zuora, Inc engages in the provision of cloud-based subscription management platform. Its products include Zuora Billing, Zuora Revenue, Zuora CPQ, Zuora Collect AI, and Zuora Analytics. It offers solutions to software, healthcare, education, B2C, and communications industries. The company was founded in 2007 by K.V.

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Earnings History and Estimates for Zuora (NYSE:ZUO)

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