Lake Street analyst Jacob Stephan raised the firm’s price target on Zuora to $13 from $12 and keeps a Buy rating on the shares after the company reported Q1 results that were ahead of the firm’s expectations on both top and bottom lines. The firm, which continues to believe Zuora is “the category killer in billing solutions,” thinks Zuora is positioning itself well to demonstrate it can grow profitably while strengthening its balance sheet when growth opportunities present themselves. The firm would expect Zuora to look for a way to redeploy additional cash to select growth opportunities or shareholders, the analyst added.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ZUO:
- ZUO Upcoming Earnings Report: What to Expect?
- Zuora Strengthens Board and Governance with Strategic Alliance
- Zuora acquires ‘metering and rating solution Togai,’ terms undisclosed
- Sources tell Reuters Zuora exploring sale after takeover interest
- Zuora up 15% after Reuters reports company exploring possible sale