Zuora up on FY23 profit forecast raise

Zuora

30/11/2023 14:12

** Shares of cloud-based subscription management platform
Zuora  ZUO.N  rise 9% to $9.10 premarket 
    ** Co raises FY23 profit forecast to the range of 25 cents
to 26 cents, up from its prior forecast of 21 cents to 23 cents 
   
    ** Tightens FY23 revenue forecast to the range of $430.8 mln
to$432.8 mln from previous $428 mln to $433 mln 
    ** Co's Q3 results beat Wall Street estimates 
    ** Brokerage Craig-Hallum raises PT on stock to $13.50 from
$12, citing higher margins and multi-year customer commitments
    ** YTD, stock up 31.3% through last close 

 (Reporting by Purvi Agarwal in Bengaluru)
 ((Purvi.Agarwal@thomsonreuters.com))