At present, Zuora Inc. (ZUO) is trading near 52-week highs. The ZUO stock saw a positive assessment from Berenberg specialists last week, which was one of the ZUO stock’s growth drivers.
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Various business sectors rely on Zuora for software solutions. Zuora offers two main products: Zuora Billing, which automates subscription billing management, and Zuora Rev, which manages subscription revenue management, including advertising monetization. Also, Zuora’s tools make setting up a deal, pricing an agreement, and collecting payments a snap.
Zuora Inc.’s (ZUO) shares received a “Buy” recommendation from the analysts at Berenberg, and their target price was boosted to $20. Investors’ optimism stems from the ZUO stock’s recent positive earnings report and expectations of continued strong growth in the future. The ZUO stock’s loss last quarter was almost two times lower than expected on Wall Street. Sales are expected to grow nearly 7% year-over-year in the current first quarter of the fiscal year. In the third quarter of last year, the non-GAAP loss was about $ 0.03 per share, a considerable improvement over last year’s $ 0.06 per share.
It seems as if the rise of ZUO stock is indicative of a broader trend in the technology sector. Therefore, investors were looking to invest in shares of technology companies last year due to the pandemic, as they thought they might benefit from the changes in work schedules globally. Nevertheless, when vaccinations increased, investors focused on airline stocks, hotel chains, and travel providers. Hence, Zuora’s quotes tend to follow market trends and may not accurately represent its actual financial performance.
Zuora Inc. (ZUO) closed at $16.42 last trading session, losing -2.84%. This stock recorded a volume of 1.99 million shares, down from a daily average of 1.49 million shares reported for the past 50 days. In the previous five days, Zuora Inc.’s shares gained 9.54%, and over the previous month, they were up 14.43%. Last quarter, the stock price added 19.59%, and it has gained 17.88 percent in the past year. Besides, it retains a 6.70 price-to-sales ratio.
