Zuora assumed at Hold from Buy at Craig-Hallum

As previously reported, Craig-Hallum downgraded Zuora to Hold from Buy with a price target of $10, down from $12, as the analyst assumed coverage of the stock. Zuora’s billing and subscription management software platform is a core capability and mission critical component for hundreds of enterprises, but Zuora is known as a premium product with premium pricing and the firm sees current numbers as being at risk with tech peers suffering, few signs of inflection in the landscape and most of Zuora’s key metrics continuing to decelerate, the analyst tells investors.