Zuora price target raised to $10 at Jefferies after meetings with management

Jefferies raised the firm’s price target on Zuora to $10 from $9 and keeps a Hold rating on the shares after having hosted the company’s CFO for a set of investor meetings. Despite a commitment to deliver 6%-7% margins in FY24, the company’s margins are "still a step function lower than peers in the mid-to-high teens," said the firm, which adds that it thinks the tougher macro environment, combined with high exposure to tech, could "keep a lid on growth" in the near-term.