ZipRecruiter (NYSE:ZIP) Downgraded by Wall Street Zen to "Buy"

Key Points

• Wall Street Zen downgraded ZipRecruiter from “strong buy” to “buy.” The broader analyst consensus is “hold,” with an average price target of $4.17.
• Goldman Sachs and UBS raised their price targets to $5.00 and $4.50, respectively, while maintaining neutral ratings.
• ZipRecruiter reported quarterly earnings of $0.53 per share, beating the consensus estimate of a $0.06 loss, on revenue of $118.06 million.

ZipRecruiter (NYSE:ZIP - Get Free Report) was downgraded by Wall Street Zen from a "strong-buy" rating to a "buy" rating in a report released on Saturday, Wall Street Zen reports.

A number of other research analysts have also weighed in on ZIP. The Goldman Sachs Group increased their price target on ZipRecruiter from $3.50 to $5.00 and gave the stock a "neutral" rating in a research note on Thursday, August 6th. UBS Group upped their price target on ZipRecruiter from $4.00 to $4.50 and gave the stock a "neutral" rating in a research report on Wednesday, July 22nd. Finally, Weiss Ratings upgraded ZipRecruiter from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, October 27th. Four investment analysts have rated the stock with a Hold rating. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $4.17.

ZipRecruiter Stock Performance

Shares of ZIP stock opened at $3.75 on Friday. The firm's 50 day moving average is $4.04 and its 200 day moving average is $3.38. ZipRecruiter has a 12 month low of $1.65 and a 12 month high of $5.61.

ZipRecruiter (NYSE:ZIP - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported $0.53 earnings per share for the quarter, beating analysts' consensus estimates of ($0.06) by $0.59. The company had revenue of $118.06 million for the quarter. On average, equities research analysts predict that ZipRecruiter will post -0.26 earnings per share for the current year.

Insider Transactions at ZipRecruiter

In other news, EVP Amy Garefis sold 7,879 shares of the firm's stock in a transaction dated Tuesday, October 20th. The stock was sold at an average price of $4.56, for a total value of $35,928.24. Following the transaction, the executive vice president directly owned 202,724 shares in the company, valued at $924,421.44. This trade represents a 3.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ian Siegel sold 34,978 shares of the company's stock in a transaction dated Friday, September 18th. The shares were sold at an average price of $3.67, for a total transaction of $128,369.26. Following the completion of the sale, the chief executive officer directly owned 218,895 shares of the company's stock, valued at $803,344.65. The trade was a 13.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 151,318 shares of company stock worth $608,431. Corporate insiders own 19.85% of the company's stock.

Institutional Investors Weigh In On ZipRecruiter

Several large investors have recently added to or reduced their stakes in ZIP. Militia Capital Management LLC purchased a new stake in ZipRecruiter in the 1st quarter worth approximately $399,000. Readystate Asset Management LP purchased a new position in shares of ZipRecruiter during the first quarter worth approximately $347,000. Hsbc Holdings PLC raised its position in shares of ZipRecruiter by 30.6% during the 4th quarter. Hsbc Holdings PLC now owns 208,392 shares of the company's stock worth $808,000 after purchasing an additional 48,881 shares during the last quarter. Ritholtz Wealth Management purchased a new position in ZipRecruiter in the third quarter valued at about $39,000. Finally, State of Wyoming boosted its position in ZipRecruiter by 458.9% during the 3rd quarter. State of Wyoming now owns 123,918 shares of the company's stock valued at $435,000 after purchasing an additional 101,748 shares during the period. Hedge funds and other institutional investors own 70.55% of the company's stock.

About ZipRecruiter

ZipRecruiter, Inc operates an online employment marketplace that connects businesses with job seekers. Its platform enables employers to create and distribute job postings across a broad network of online channels, while helping candidates search for available positions and apply for roles.

The company uses technology and matching tools to recommend relevant candidates to employers and suitable job opportunities to job seekers. Its services are designed for businesses of various sizes, including small and midsize employers, as well as staffing firms and larger organizations.

ZipRecruiter was founded in 2010 by Ian Siegel, Joe Edmonds, Ward Poulos and Will Kinnear.

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