Zuora initiated with Neutral, $12 target at Baird

Baird analyst Rob Oliver last night initiated coverage of Zuora with a Neutral rating and $12 price target. The analyst views financial suite digital transformation as a “compelling” secular growth theme and says that as the leader in subscription billing/management for enterprises, Zuora is well positioned to benefit. Customer checks have been improving, says the firm, which looks for continued execution to become more positive on the shares.