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Fly News Breaks for January 14, 2020
ZUO
Jan 14, 2020 | 16:23 EDT
First Analysis analyst Terry Kiwala initiated coverage of Zuora with an outperform rating and $18 price target, saying the comapny has a "strong" leadership position providing a software-as-a-service solution that automates operations and accounting for businesses that sell subscription services. Kiwala said that as Zuora's new chief revenue officer ramps up and as the company continues to build out its partner network, he believes the company can sustain subscription revenue growth near or above 20%. The analyst added that he views Zuora's high net revenue retention rates, efficient customer acquisition spend, and high average contract value as "particularly attractive" characteristics of its business model.
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