ZipRecruiter (NYSE:ZIP) Shares Cross Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• ZipRecruitter shares crossed above their 200-day moving average, reaching $4.05 before closing near $3.97, compared with a 200-day average of $3.38.
• Analyst sentiment remains cautious: the stock has a consensus “Hold” rating and an average price target of $4.17, although Goldman Sachs and UBS recently raised their targets.
• ZipRecruiter reported quarterly earnings of $0.53 per share, beating estimates by $0.59, while institutional investors own 70.55% of the company and insiders sold shares during the quarter.

ZipRecruiter, Inc. (NYSE:ZIP - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $3.38 and traded as high as $4.05. ZipRecruiter shares last traded at $3.9650, with a volume of 923,647 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ZIP shares. The Goldman Sachs Group raised 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. UBS Group increased their price target on shares of ZipRecruiter from $4.00 to $4.50 and gave the stock a "neutral" rating in a research note on Wednesday, July 22nd. Wall Street Zen upgraded shares of ZipRecruiter from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Finally, Weiss Ratings upgraded ZipRecruiter from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, August 26th. Four analysts have rated the stock with a Hold rating, According to data from MarketBeat, ZipRecruiter currently has a consensus rating of "Hold" and a consensus target price of $4.17.

ZipRecruiter Price Performance

The firm's 50-day moving average price is $4.27 and its 200-day moving average price is $3.38. The company has a market cap of $326.04 million, a price-to-earnings ratio of 11.33 and a beta of 1.44.

ZipRecruiter (NYSE:ZIP - Get Free Report) last posted its earnings results 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 for the quarter. On average, sell-side analysts anticipate that ZipRecruiter, Inc. will post 0.16 earnings per share for the current year.

Insider Transactions at ZipRecruiter

In related news, CFO David Travers sold 24,706 shares of the firm's stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $2.99, for a total transaction of $73,870.94. Following the sale, the chief financial officer directly owned 1,245,763 shares in the company, valued at approximately $3,724,831.37. This trade represents a 1.94% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Amy Garefis sold 7,819 shares of the stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $5.15, for a total transaction of $40,267.85. Following the completion of the sale, the executive vice president directly owned 207,108 shares of the company's stock, valued at $1,066,606.20. This trade represents a 3.64% 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 sold 133,599 shares of company stock valued at $481,830 over the last quarter. Company insiders own 19.85% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Caerus Investment Advisors LLC purchased a new position in ZipRecruiter in the 1st quarter valued at about $25,000. AXQ Capital LP acquired a new position in shares of ZipRecruiter in the second quarter worth about $38,000. Evoke Wealth LLC purchased a new position in ZipRecruiter in the fourth quarter valued at about $40,000. Militia Capital Management LLC acquired a new stake in ZipRecruiter during the 1st quarter valued at approximately $134,000. Finally, Sei Investments Co. acquired a new stake in ZipRecruiter during the 1st quarter valued at approximately $140,000. 70.55% of the stock is currently owned by hedge funds and other institutional investors.

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.

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