ZipRecruiter (NYSE:ZIP) Stock Crosses Above 200-Day Moving Average - Time to Sell?

Key Points

• ZipRecruiter shares rose above their 200-day moving average for the first time in this move, trading as high as $4.23 and last changing hands around $4.18. The stock was up about 5.4% on the day.
• Despite the recent bounce, Wall Street sentiment remains cautious: analysts have an average rating of “Reduce” with a $3.88 price target, and Weiss Ratings reaffirmed a sell rating. The stock currently carries four Hold ratings and one Sell rating.
• Recent earnings beat expectations, with ZipRecruiter reporting a loss of $0.06 per share versus the expected $0.15 loss on revenue of $107.55 million. Insider selling also continued, including shares sold by the CEO and EVP under pre-arranged trading plans.

ZipRecruiter, Inc. (NYSE:ZIP - Get Free Report) shares crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $2.90 and traded as high as $4.23. ZipRecruiter shares last traded at $4.1750, with a volume of 472,706 shares traded.

Wall Street Analysts Forecast Growth

ZIP has been the subject of several research reports. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of ZipRecruiter in a research note on Monday, July 6th. The Goldman Sachs Group raised their target price on shares of ZipRecruiter from $3.00 to $3.50 and gave the stock a "neutral" rating in a research note on Monday, May 11th. Finally, UBS Group boosted their target price on ZipRecruiter from $3.50 to $4.00 and gave the stock a "neutral" rating in a report on Friday, June 26th. Four analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, ZipRecruiter has an average rating of "Reduce" and an average price target of $3.88.

ZipRecruiter Trading Up 5.4%

The company has a market capitalization of $352.41 million, a price-to-earnings ratio of -14.91 and a beta of 1.43. The firm's fifty day simple moving average is $3.54 and its two-hundred day simple moving average is $2.90.

ZipRecruiter (NYSE:ZIP - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.06) EPS for the quarter, beating analysts' consensus estimates of ($0.15) by $0.09. The business had revenue of $107.55 million during the quarter. As a group, analysts forecast that ZipRecruiter, Inc. will post -0.08 EPS for the current fiscal year.

Insider Activity

In related news, EVP Amy Garefis sold 9,113 shares of the business's stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $3.62, for a total value of $32,989.06. Following the sale, the executive vice president directly owned 222,910 shares in the company, valued at approximately $806,934.20. The trade was a 3.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Ian H. Siegel sold 34,978 shares of the business's stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $3.00, for a total transaction of $104,934.00. Following the completion of the sale, the chief executive officer owned 108,423 shares in the company, valued at approximately $325,269. This trade represents a 24.39% decrease in their ownership of the stock. 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 a total of 126,277 shares of company stock valued at $408,216 in the last quarter. Insiders own 19.85% of the company's stock.

Hedge Funds Weigh In On ZipRecruiter

Hedge funds have recently made changes to their positions in the stock. Dynamic Technology Lab Private Ltd raised its holdings in shares of ZipRecruiter by 11.1% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 28,229 shares of the company's stock valued at $119,000 after purchasing an additional 2,824 shares in the last quarter. Jump Financial LLC grew its stake in shares of ZipRecruiter by 46.3% during the second quarter. Jump Financial LLC now owns 15,403 shares of the company's stock worth $77,000 after purchasing an additional 4,872 shares in the last quarter. Legal & General Group Plc grew its stake in shares of ZipRecruiter by 7.5% during the second quarter. Legal & General Group Plc now owns 70,861 shares of the company's stock worth $355,000 after purchasing an additional 4,922 shares in the last quarter. Creative Planning increased its holdings in ZipRecruiter by 20.5% in the second quarter. Creative Planning now owns 29,838 shares of the company's stock valued at $149,000 after buying an additional 5,069 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in ZipRecruiter by 15.8% in the third quarter. BNP Paribas Financial Markets now owns 44,786 shares of the company's stock valued at $189,000 after buying an additional 6,109 shares during the last quarter. 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 job seekers and employers. Its platform provides various solutions, such as job posting, online interviews, job alerts, match scores, and application updates. The company was incorporated in 2010 and is based in Santa Monica, California.

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