Zuora Sees Unusually High Options Volume (ZUO)

Zuora Inc (NYSE:ZUO) was the recipient of some unusual options trading on Thursday. Stock traders purchased 2,559 put options on the company. This represents an increase of approximately 1,058% compared to the average volume of 221 put options.

In other Zuora news, SVP Jennifer Pileggi sold 10,000 shares of Zuora stock in a transaction dated Monday, October 8th. The stock was sold at an average price of $20.38, for a total value of $203,800.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Michelangelo Volpi sold 28,780 shares of Zuora stock in a transaction dated Wednesday, September 5th. The shares were sold at an average price of $26.30, for a total value of $756,914.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 579,238 shares of company stock worth $14,222,367.

Several large investors have recently added to or reduced their stakes in the company. Reynders McVeigh Capital Management LLC bought a new stake in shares of Zuora during the third quarter worth about $3,673,000. Vanguard Group Inc. grew its holdings in shares of Zuora by 10.0% during the third quarter. Vanguard Group Inc. now owns 1,110,959 shares of the company’s stock worth $25,674,000 after purchasing an additional 100,818 shares during the last quarter. Morgan Stanley grew its holdings in shares of Zuora by 2,176.8% during the third quarter. Morgan Stanley now owns 233,261 shares of the company’s stock worth $5,390,000 after purchasing an additional 223,016 shares during the last quarter. Standard Life Aberdeen plc bought a new stake in shares of Zuora during the third quarter worth about $997,000. Finally, Macquarie Group Ltd. bought a new stake in shares of Zuora during the third quarter worth about $1,061,000. Institutional investors own 13.59% of the company’s stock.

NYSE:ZUO opened at $20.56 on Friday. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.07. Zuora has a 1-year low of $16.00 and a 1-year high of $37.78.

Zuora (NYSE:ZUO) last released its quarterly earnings results on Thursday, November 29th. The company reported ($0.10) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.13) by $0.03. The firm had revenue of $61.60 million for the quarter, compared to the consensus estimate of $58.96 million. The business’s quarterly revenue was up 32.8% compared to the same quarter last year. As a group, equities analysts forecast that Zuora will post -0.78 earnings per share for the current year.

A number of research firms have issued reports on ZUO. Morgan Stanley decreased their target price on Zuora from $26.00 to $24.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 23rd. FBN Securities began coverage on Zuora in a research report on Tuesday, October 16th. They issued an “outperform” rating on the stock. Jefferies Financial Group lifted their target price on Zuora to $35.00 and gave the company a “buy” rating in a research report on Friday, August 31st. Canaccord Genuity lifted their target price on Zuora from $26.00 to $28.00 and gave the company a “hold” rating in a research report on Friday, August 31st. Finally, Needham & Company LLC lifted their target price on Zuora from $33.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, August 29th. They noted that the move was a valuation call. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $28.83.

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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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