ZipRecruiter (NYSE:ZIP) Price Target Raised to $5.00

Key Points

• UBS raised its ZipRecruiter price target from $4.50 to $5.00 but kept a neutral rating; the target implies 23.11% downside from the share price cited in the report.
• ZipRecruiter reported quarterly EPS of $0.06, beating the consensus estimate of a $0.11 loss, on revenue of $124.44 million. The article also reports that shares rose 51.6% on Tuesday to $6.50.
• Analysts’ consensus rating is Hold, with an average price target of $4.33. Fourth-quarter revenue guidance of $118 million–$122 million was above the cited analyst consensus of about $115.8 million.

ZipRecruiter (NYSE:ZIP - Get Free Report) had its price target hoisted by UBS Group from $4.50 to $5.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has a "neutral" rating on the stock. UBS Group's price objective would suggest a potential downside of 23.11% from the company's current price.

Several other analysts also recently commented on the stock. The Goldman Sachs Group lifted their target price on shares of ZipRecruiter from $3.50 to $5.00 and gave the stock a "neutral" rating in a report on Thursday, August 6th. Wall Street Zen downgraded ZipRecruiter from a "strong-buy" rating to a "buy" rating in a report on Saturday. Finally, Weiss Ratings raised shares of ZipRecruiter from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, October 27th. Four investment analysts have rated the stock with a Hold rating. According to data from MarketBeat, ZipRecruiter presently has a consensus rating of "Hold" and an average price target of $4.33.

ZipRecruiter Trading Up 51.6%

Shares of NYSE:ZIP traded up $2.21 during trading on Tuesday, hitting $6.50. 5,665,072 shares of the company were exchanged, compared to its average volume of 988,791. The stock has a market cap of $534.74 million, a price-to-earnings ratio of 18.58 and a beta of 1.54. ZipRecruiter has a fifty-two week low of $1.65 and a fifty-two week high of $6.53. The firm has a fifty day moving average price of $4.04 and a two-hundred day moving average price of $3.39.

ZipRecruiter (NYSE:ZIP - Get Free Report) last released its quarterly earnings data on Monday, November 9th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of ($0.11) by $0.17. The company had revenue of $124.44 million during the quarter. As a group, research analysts predict that ZipRecruiter will post -0.26 EPS for the current year.

Insiders Place Their Bets

In other ZipRecruiter news, EVP Amy Garefis sold 7,879 shares of the business's stock in a transaction dated Tuesday, October 20th. The stock was sold at an average price of $4.56, for a total transaction of $35,928.24. Following the completion of the transaction, the executive vice president owned 202,724 shares of the company's stock, valued at approximately $924,421.44. The trade was a 3.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ian H. Siegel sold 9,722 shares of the stock in a transaction that occurred on Monday, October 5th. The shares were sold at an average price of $3.59, for a total transaction of $34,901.98. Following the completion of the transaction, the chief executive officer directly owned 170,285 shares of the company's stock, valued at approximately $611,323.15. The trade was a 5.40% decrease in their position. 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. Insiders have sold 151,318 shares of company stock valued at $608,431 over the last ninety days. Company insiders own 19.85% of the company's stock.

Institutional Investors Weigh In On ZipRecruiter

Several hedge funds have recently modified their holdings of ZIP. Caerus Investment Advisors LLC bought a new position in shares of ZipRecruiter during the first quarter valued at $25,000. AXQ Capital LP acquired a new position in shares of ZipRecruiter in the 2nd quarter worth approximately $38,000. Ritholtz Wealth Management bought a new position in ZipRecruiter during the third quarter worth $39,000. R Squared Ltd acquired a new position in shares of ZipRecruiter in the 3rd quarter valued at about $50,000. Finally, Royce & Associates LP acquired a new position in shares of ZipRecruiter in the 3rd quarter valued at about $61,000. Institutional investors and hedge funds own 70.55% of the company's stock.

Key Stories Impacting ZipRecruiter

Here are the key news stories impacting ZipRecruiter this week:

• Positive Sentiment: Q3 revenue rose 8% year over year to $124.4 million, while earnings were about $0.05–$0.06 per share versus analysts’ expected loss of $0.11. Zacks Q3 results
• Positive Sentiment: Fourth-quarter revenue guidance of $118 million–$122 million is above the roughly $115.8 million consensus, signaling management expects revenue to hold up better than analysts had anticipated. Q3 earnings call transcript
• Positive Sentiment: Quarterly paid employers grew 10% year over year to 74,000. The Q3 analysis also cited an 89.8% gross margin, a 1,310-basis-point improvement in GAAP operating margin, debt reduction and $22 million of year-to-date free cash flow; Seeking Alpha upgraded its rating to Buy. Turnaround analysis and rating upgrade
• Neutral Sentiment: The analysis attributed monetization declines to timing, making it a point to monitor despite growth in paid employers and the stronger overall results. Long-term investor takeaways

ZipRecruiter Company Profile

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.

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