The Vanguard Group, Inc. recently announced the acquisition of new stake in Zuora Inc. (NYSE:ZUO). The institutional investor has increased its shareholding in the Technology company by 20.26% to 8.54 million shares with purchase of 1.44 million shares. This fresh investment now brings its stake to 8.55% valued currently at $99.43 million. In addition, BlackRock Fund Advisors raised its holdings by 0.69 million to 5.88 million shares. And Brown Advisory LLC has lifted its position by 5.41% or 0.24 million shares – to 4.68 million shares.
With over 1.25 million Zuora Inc. (ZUO) shares trading Friday and a closing price of $13.46 on the day, the dollar volume was approximately $16.89 million. The shares have shown a positive weekly performance of 16.13% and its price on 08/28/20 gained nearly 3.70%. Currently, there are 115.14M common shares owned by the public and among those 98.79M shares have been available to trade.
Incidentally, analysts’ outlook for the Zuora Inc. stock is 2.90 for the next 12 months.
Insiders at the company have transacted a total of 53 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 28 of these insider trades were purchases, accounting for 5,037,704 shares. Insider sales of the common stock occurred on 25 occasions, with total insider shares sold totaling 3,285,067 shares.
The top 3 mutual fund holders in Zuora Inc. are Vanguard Total Stock Market Index, First Trust Cloud Computing ETF, and Vanguard Small Cap Index Fund. Vanguard Total Stock Market Index owns 2.73 million shares of the company’s stock, all valued at over $31.73 million. The company sold 5881.0 shares recently to bring their total holdings to about 2.73% of the shares outstanding. Vanguard Small Cap Index Fund sold 25900.0 shares to bring its total holdings to over 2.35 million shares at a value of $27.32 million. Vanguard Small Cap Index Fund now owns shares totaling to 2.35% of the shares outstanding.
Shares of Zuora Inc. (NYSE: ZUO) opened at $13.01, up $0.03 from a prior closing price of $12.98. However, the script later closed the day at $13.46, up 3.70%. The company’s stock has a 5-day price change of 16.13% and 9.79% over the past three months. ZUO shares are trading -6.07% year to date (YTD), with the 12-month market performance down to -9.54% lower. It has a 12-month low price of $6.21 and touched a high of $16.59 over the same period. Currently, 1.25 million shares have been traded, compared to an average intraday trading volume of 1.68 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 13.08%, 10.50%, and 7.07% respectively.
Institutional ownership of Zuora Inc. (NYSE: ZUO) shares accounts for 61.70% of the company’s 115.14M shares outstanding. Mutual fund holders own 30.37%, while other institutional holders and individual stakeholders account for 9.60% and 29.82% respectively.
It has a market capitalization of $1.50B. The earnings-per-share (ttm) stands at -$0.71. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.18% over the week and 4.23% over the month.
Analysts forecast that Zuora Inc. (ZUO) will achieve an EPS of -$0.07 for the current quarter, -$0.05 for the next quarter and -$0.1 for 2022. The lowest estimate earnings-per-share for the quarter is -$0.07 while analysts give the company a high EPS estimate of -$0.06. Comparatively, EPS for the current quarter was -$0.09 a year ago. Earnings per share for the fiscal year are expected to increase by 5.80%, and 54.50% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 6 brokerage firm advisors rate Zuora Inc. (ZUO) as a “Moderate Buy” at a consensus score of 2.90. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 3 of the 6 advise that investors “hold,” and 2 rated it as a “Sell.”
Looking at the support for the ZUO, a number of firms have released research notes about the stock. Northland Capital stated their Market Perform rating for the stock in a research note on June 16, 2020, with the firm’s price target at $14.50. Canaccord Genuity coverage for the Zuora Inc. (ZUO) stock in a research note released on May 22, 2020 offered a Buy rating with a price target of $15. Jefferies was of a view on May 14, 2020 that the stock is Hold, while Morgan Stanley gave the stock Underweight rating on April 14, 2020, issuing a price target of $8.50. Needham on their part issued Hold rating on March 13, 2020.