Shares of Zuora (ZUO 4.21%) climbed 31.3% in April, according to data from S&P Global Market Intelligence. The subscription management company's share price posted substantial recovery after sinking 39.2% in March's trading.
Zuora stock rebounded along with the momentum of the broader market in April. The stock also appears to have gotten a boost from details shared by management during an investor conference call that took place in the middle of the month.
On an investor conference call hosted by Jeffries on April 15, CEO Tien Tzuo shared some promising details about how businesses using Zuora's subscription-management services were performing amid the novel coronavirus crisis. Tzuo noted that only between 10% and 12% of the company's customer base saw net subscriber counts decrease in March. He also said that 25% of businesses on its platform saw subscriber acquisition accelerate, and 50% of businesses didn't see any meaningful change.
Zuora's stock has continued to climb in May. The company's shares are up roughly 6.5% in the month so far.
Zuora is scheduled to report quarterly results after the market closes on June 3. The company reported fourth-quarter earnings in March and laid out a target for first-quarter revenue between $70.5 million and $73 million and a non-GAAP (adjusted) loss per share between $0.10 and $0.11. For the full year, Zuora expects to post an adjusted loss per share between $0.25 and $0.29 on sales between $300 million and $307 million.
Zuora is valued at roughly 4.3 times the average analyst target for this year's sales.