Shares of Zuora (NYSE:ZUO) ended Thursday’s trading session roughly flat, according to data from S&P Global Market Intelligence. The stock initially made big gains following the company’s second-quarter earnings release after market close on Aug. 25, but shares subsequently retreated amid sell-offs for growth-dependent technology stocks.
ZUO data by YCharts
Zuora reported a non-GAAP (adjusted) loss per share of $0.04 on sales of $86.49 million. Earnings arrived in line with the market’s expectations, but the average analyst estimate had called for sales of roughly $83.4 million. The significant sales beat was enough to power the stock as high as $18.65 per share in Thursday’s trading, but trends hitting the broader market caused those gains to recede. The Nasdaq Composite index closed the day down roughly 0.6%.