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

Key Points

• Wall Street Zen upgraded ZipRecruiter to “strong-buy” from “buy,” but the broader analyst consensus remains “Hold,” with a $4.17 average price target.
• ZipRecruiter shares opened at $4.66, above their 50-day average of $4.12 and 200-day average of $3.73. The company’s latest quarterly earnings of $0.53 per share substantially exceeded the consensus estimate of a $0.06 loss.
• Insiders sold 137,784 shares worth $541,117 over the past three months, while institutional investors and hedge funds own approximately 70.55% of the company.

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

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

ZipRecruiter Stock Down 0.3%

Shares of NYSE ZIP opened at $4.66 on Friday. The business has a fifty day moving average price of $4.12 and a two-hundred day moving average price of $3.73. ZipRecruiter has a fifty-two week low of $1.65 and a fifty-two week high of $5.61.

ZipRecruiter (NYSE:ZIP - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.53 earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.59. The business had revenue of $118.06 million during the quarter. As a group, equities analysts anticipate that ZipRecruiter will post -0.26 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Amy Garefis sold 7,879 shares of the business's stock in a transaction that occurred on Tuesday, October 20th. The shares were sold at an average price of $4.56, for a total value 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 $924,421.44. The trade was a 3.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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 on Friday, September 18th. The stock was sold at an average price of $3.66, for a total value of $90,420.30. Following the sale, the president owned 1,252,219 shares of the company's stock, valued at $4,583,121.54. This trade represents a 1.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 137,784 shares of company stock worth $541,117 in the last three months. Corporate insiders own 19.85% of the company's stock.

Hedge Funds Weigh In On ZipRecruiter

Several hedge funds have recently modified their holdings of ZIP. Citizens Financial Group Inc. RI boosted its holdings in shares of ZipRecruiter by 6.4% during the third quarter. Citizens Financial Group Inc. RI now owns 37,647 shares of the company's stock valued at $132,000 after acquiring an additional 2,264 shares during the period. AXQ Capital LP bought a new position in shares of ZipRecruiter during the second quarter worth about $38,000. Caerus Investment Advisors LLC acquired a new stake in shares of ZipRecruiter in the 1st quarter worth about $25,000. Varde Management L.P. increased its holdings in shares of ZipRecruiter by 6.9% in the 2nd quarter. Varde Management L.P. now owns 371,456 shares of the company's stock worth $1,393,000 after acquiring an additional 23,929 shares during the period. Finally, Hsbc Holdings PLC increased its holdings in shares of ZipRecruiter by 30.6% in the 4th quarter. Hsbc Holdings PLC now owns 208,392 shares of the company's stock worth $808,000 after acquiring an additional 48,881 shares during the period. Institutional investors and hedge funds own 70.55% of the company's stock.

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.

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

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