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 story : Zuora stock rallies after Needham upgrade #FinanceUSA #StockMarketNEWS Shares of Zuora Inc. are up 3.4% in premarket trading Monday after Needham analyst Joshua Reilly assumed coverage of the software

@stockMarketNEWS 16 Days ago

Posted in: #FinanceUSA #StockMarketNEWS

Zuora stock rallies after Needham upgrade #FinanceUSA #StockMarketNEWS
Shares of Zuora Inc. are up 3.4% in premarket trading Monday after Needham analyst Joshua Reilly assumed coverage of the software stock from a colleague and upgraded it to buy, setting a price target. "We believe Zuora will accelerate billings growth thanks to changes to its go-to-market and product strategy," he wrote. Zuora saw 28% growth in subscription billings in its fiscal second quarter, up from 21% in the fiscal first quarter, which suggests to Reilly that the company is having success with recent changes it's enacted. "We believe key changes to the [go-to-market] organization including a partner first strategy and focus on 'strategic land and expand' are resonating with customers and leading to improved sales metrics," Reilly wrote. Zuora shares have gained 19.5% so far this year, as the S&P 500 has risen 16.9%.


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