ZipRecruiter (NYSE:ZIP) Stock Passes Above 200-Day Moving Average – What’s Next?

Shares of ZipRecruiter, Inc. (NYSE:ZIP) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-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.

Analysts Set New Price Targets

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

ZipRecruiter Price Performance

The company has a 50 day simple moving average of $3.55 and a 200-day simple moving average of $2.90. The stock has a market cap of $332.15 million, a P/E ratio of -14.05 and a beta of 1.43.

ZipRecruiter (NYSE:ZIP) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.09. The firm had revenue of $107.55 million during the quarter. As a group, research analysts expect that ZipRecruiter, Inc. will post -0.08 earnings per share for the current year.

Insider Buying and Selling

In other ZipRecruiter news, EVP Amy Garefis sold 9,113 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $3.62, for a total value of $32,989.06. Following the completion of the sale, the executive vice president owned 222,910 shares of the company’s stock, valued at $806,934.20. This represents a 3.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 9,722 shares of the stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $3.90, for a total transaction of $37,915.80. Following the transaction, the chief executive officer owned 59,813 shares in the company, valued at $233,270.70. The trade was a 13.98% 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 sold 126,277 shares of company stock worth $408,216 in the last quarter. 19.85% of the stock is owned by insiders.

Institutional Investors Weigh In On ZipRecruiter

Institutional investors have recently made changes to their positions in the business. Quarry LP purchased a new position in ZipRecruiter in the 3rd quarter worth $42,000. Evoke Wealth LLC purchased a new stake in ZipRecruiter during the fourth quarter valued at about $40,000. nVerses Capital LLC purchased a new stake in ZipRecruiter during the fourth quarter valued at about $41,000. Mercer Global Advisors Inc. ADV bought a new position in shares of ZipRecruiter during the third quarter valued at about $44,000. Finally, Kemnay Advisory Services Inc. bought a new position in shares of ZipRecruiter during the fourth quarter valued at about $43,000. 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 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.