Stock Alert: Zuora Down 19% On Outlook

(RTTNews) - Shares of Zuora, Inc. (ZUO) are currently losing nearly 19% on Friday trading after the cloud-based software company's outlook fell short of Wall Street expectations. Zuora expects first-quarter loss of $0.11 to $0.10 per share on revenue of $70.5 million to $73 million. Analysts on average polled by Thomson Reuters, currently estimate loss of $0.09 per share and revenues of $74.21 million. For the full year, the company expects a loss of $0.29 to $0.25 per share on revenue of $300 million to $307 million for the year. The consensus estimate is for a loss of $0.27 per share on revenues of $323.06 million.

Zora also said its Chief Financial Officer Tyler Sloat has resigned, effective April 5 for a position outside the company. The U.S stock market bounced back today as Wall Street recovered some of the losses suffered in the previous session. ZUO is currently trading at $7.00, down $1.59 or 18.51%, on the NYSE.