ZipRecruiter (NYSE:ZIP) Stock Lifted to Strong-Buy by Wall Street Zen

Key Points

• Wall Street Zen upgraded ZipRecruiter to Strong Buy from Buy, while Zacks Research also raised its rating to Strong Buy. Despite these upgrades, the overall analyst consensus remains Hold, with an average price target of $4.33.
• ZipRecruiter reported quarterly earnings of $0.06 per share, beating estimates that called for a $0.11 loss; revenue was $124.44 million.
• Shares fell 2.4% on Friday to $5.50. Company insiders have sold 219,255 shares worth about $986,000 over the past 90 days.

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

ZIP has been the subject of a number of other reports. Weiss Ratings downgraded ZipRecruiter from a "hold (c)" rating to a "hold (c-)" rating in a research report on Wednesday. Zacks Research upgraded ZipRecruiter from a "hold" rating to a "strong-buy" rating in a research report on Wednesday. The Goldman Sachs Group boosted their price target on ZipRecruiter from $3.50 to $5.00 and gave the company a "neutral" rating in a research note on Thursday, August 6th. Finally, UBS Group upped their price objective on shares of ZipRecruiter from $4.50 to $5.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 10th. One analyst has rated the stock with a Strong Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, ZipRecruiter presently has an average rating of "Hold" and an average target price of $4.33.

ZipRecruiter Trading Down 2.4%

Shares of NYSE:ZIP traded down $0.14 on Friday, reaching $5.50. 983,964 shares of the company's stock were exchanged, compared to its average volume of 1,081,436. ZipRecruiter has a twelve month low of $1.65 and a twelve month high of $6.72. The company has a fifty day moving average of $4.17 and a 200-day moving average of $3.45. The company has a market capitalization of $452.68 million, a price-to-earnings ratio of 10.59 and a beta of 1.54.

ZipRecruiter (NYSE:ZIP - Get Free Report) last released its quarterly earnings results on Monday, November 9th. The company reported $0.06 earnings per share for the quarter, beating analysts' consensus estimates of ($0.11) by $0.17. The business had revenue of $124.44 million during the quarter. As a group, equities research analysts forecast that ZipRecruiter will post -0.01 EPS for the current fiscal year.

Insider Activity at ZipRecruiter

In related news, CEO Ian Siegel sold 34,978 shares of the business's stock in a transaction on Friday, September 18th. The stock was sold at an average price of $3.67, for a total transaction of $128,369.26. Following the sale, the chief executive officer owned 218,895 shares in the company, valued at $803,344.65. The trade was a 13.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President David Travers sold 24,705 shares of the company's stock in a transaction dated Friday, September 18th. The stock was sold at an average price of $3.66, for a total value of $90,420.30. Following the completion of the transaction, the president directly owned 1,252,219 shares of the company's stock, valued at approximately $4,583,121.54. The trade was a 1.93% 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 sold 219,255 shares of company stock worth $986,161 in the last 90 days. 19.85% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ZipRecruiter

Several institutional investors and hedge funds have recently added to or reduced their stakes in ZIP. Citizens Financial Group Inc. RI boosted its holdings in ZipRecruiter by 6.4% in the third quarter. Citizens Financial Group Inc. RI now owns 37,647 shares of the company's stock worth $132,000 after acquiring an additional 2,264 shares in the last quarter. AXQ Capital LP bought a new position in ZipRecruiter in the 2nd quarter worth about $38,000. Ritholtz Wealth Management purchased a new stake in ZipRecruiter during the 3rd quarter valued at about $39,000. Russell Investments Group Ltd. grew its position in ZipRecruiter by 7.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 155,420 shares of the company's stock valued at $546,000 after purchasing an additional 11,112 shares during the last quarter. Finally, Focus Advisor Solutions LLC bought a new stake in ZipRecruiter during the 3rd quarter valued at about $43,000. 70.55% of the stock is currently owned by institutional investors and hedge funds.

Key ZipRecruiter News

These are some of the ZIP news items that stood out recently:

• Positive Sentiment: Zacks Research upgraded ZipRecruiter to “Strong Buy” (Zacks Rank #1), citing improving earnings prospects. Separate coverage also pointed to positive earnings-estimate revisions and a higher fair-value estimate after an analyst price-target increase. Zacks upgrade
• Positive Sentiment: Recent quarterly results provided support for the improved outlook: ZipRecruiter reported EPS of $0.06, beating the cited consensus estimate of a $0.11 loss, on revenue of $124.44 million. Recent ZipRecruiter report
• Negative Sentiment: EVP Boris Shimanovsky sold 67,937 shares, reducing his direct holdings by 16.61%. The sale was conducted under a pre-arranged Rule 10b5-1 plan, which may limit its significance as a signal about his current outlook. Insider sale details

About ZipRecruiter

ZipRecruiter, Inc. operates an online employment marketplace that connects businesses with job seekers. Employers can create and manage job listings, while candidates can search and apply for openings through the company's website and mobile applications. The platform uses technology to match job seekers with relevant opportunities and help employers identify potential candidates. Its services include tools for posting jobs, managing applications, and finding or inviting candidates to apply. Founded in 2010, ZipRecruiter is headquartered in Santa Monica, California, and primarily serves employers and job seekers in the United States, with operations also serving select international markets.

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