ZipRecruiter (NYSE:ZIP) Rating Increased to Strong-Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded ZipRecruiter to “strong buy” from “buy,” although the broader analyst consensus remains “hold” with an average price target of $4.17.
• ZIP opened at $3.71 after falling 2.8%; shares have traded between $1.65 and $5.61 over the past year. The company recently reported quarterly EPS of $0.53, beating estimates by $0.59, on revenue of $118.06 million.
• Insiders sold 73,915 shares worth approximately $303,000 over the past three months, while institutional investors own 70.55% of the company.

ZipRecruiter (NYSE:ZIP - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Several other analysts also recently issued reports on the stock. UBS Group lifted their price target on shares of ZipRecruiter from $4.00 to $4.50 and gave the company a "neutral" rating in a research report on Wednesday, July 22nd. Weiss Ratings upgraded shares of ZipRecruiter from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, August 26th. Finally, The Goldman Sachs Group raised their price objective on shares of ZipRecruiter from $3.50 to $5.00 and gave the company a "neutral" rating in a research note on Thursday, August 6th. Four investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $4.17.

ZipRecruiter Trading Down 2.8%

ZIP stock opened at $3.71 on Friday. The stock has a 50-day moving average price of $4.26 and a 200-day moving average price of $3.42. ZipRecruiter has a 1-year low of $1.65 and a 1-year high of $5.61. The firm has a market cap of $305.40 million, a PE ratio of 10.61 and a beta of 1.44.

ZipRecruiter (NYSE:ZIP - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported $0.53 EPS for the quarter, beating the consensus estimate of ($0.06) by $0.59. The business had revenue of $118.06 million for the quarter. On average, analysts forecast that ZipRecruiter will post 0.16 earnings per share for the current year.

Insider Transactions at ZipRecruiter

In other ZipRecruiter news, EVP Amy Garefis sold 7,983 shares of the company's stock in a transaction dated Monday, July 20th. The shares were sold at an average price of $3.95, for a total value of $31,532.85. Following the completion of the sale, the executive vice president directly owned 214,927 shares of the company's stock, valued at approximately $848,961.65. This represents a 3.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ian Siegel sold 9,722 shares of the stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $3.90, for a total transaction of $37,915.80. Following the completion of the sale, the chief executive officer owned 59,813 shares of the company's stock, valued at approximately $233,270.70. This trade represents a 13.98% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 73,915 shares of company stock worth $303,025 over the last three months. 19.85% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. AXQ Capital LP purchased a new stake in ZipRecruiter during the second quarter valued at about $38,000. Evoke Wealth LLC purchased a new stake in shares of ZipRecruiter during the fourth quarter worth $40,000. Caerus Investment Advisors LLC bought a new position in shares of ZipRecruiter in the first quarter worth $25,000. Alpine Global Management LLC bought a new position in shares of ZipRecruiter in the fourth quarter worth $169,000. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of ZipRecruiter in the second quarter valued at $241,000. 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 employers with job seekers. Its platform allows businesses of various sizes to create and distribute job postings, manage applicants and communicate with candidates, while helping job seekers search for employment opportunities and apply for positions.

The company uses technology and data-driven matching tools to recommend relevant candidates to employers and suitable job opportunities to job seekers. Its services are delivered primarily through its website and mobile applications, with tools designed to streamline recruiting, applicant management and hiring workflows.

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.