Zuora price target raised to $16 from $15 at Canaccord

Canaccord raised the firm’s price target on Zuora to $16 from $15 and keeps a Buy rating on the shares. The analyst said they executed quite well in Q4, especially against the current macro backdrop. Management indicated that stabilization in buyer behavior emerged in the quarter that began to make itself evident in new business signings, strength in ARR growth, and expanding relationships with large systems integrators.