ZipRecruiter (NYSE:ZIP) Stock Rating Raised to Strong-Buy at Zacks Research

ZipRecruiter (NYSE:ZIP) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Wednesday, Zacks reports.

Other equities analysts have also issued reports about the stock. UBS Group boosted their price objective on shares of ZipRecruiter from $4.50 to $5.00 and gave the stock a “neutral” rating in a report on Tuesday. Wall Street Zen downgraded ZipRecruiter from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 7th. Weiss Ratings downgraded ZipRecruiter from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday. Finally, The Goldman Sachs Group lifted their target price on ZipRecruiter from $3.50 to $5.00 and gave the stock a “neutral” rating in a report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $4.33.

ZipRecruiter Stock Down 4.5%

Shares of ZipRecruiter stock opened at $5.65 on Wednesday. ZipRecruiter has a 52-week low of $1.65 and a 52-week high of $6.72. The company has a 50-day simple moving average of $4.15 and a two-hundred day simple moving average of $3.44.

ZipRecruiter (NYSE:ZIP) last issued its earnings results on Monday, November 9th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.17. The firm had revenue of $124.44 million during the quarter. As a group, analysts anticipate that ZipRecruiter will post -0.01 earnings per share for the current fiscal year.

Insider Activity at ZipRecruiter

In other news, CEO Ian Siegel sold 34,978 shares of the firm’s stock in a transaction dated Friday, September 18th. The shares were 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 of the company’s stock, valued at $803,344.65. This trade represents a 13.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Amy Garefis sold 7,879 shares of the firm’s stock in a transaction dated Tuesday, October 20th. The shares were sold at an average price of $4.56, for a total transaction of $35,928.24. Following the sale, the executive vice president directly owned 202,724 shares in the company, valued at approximately $924,421.44. The trade was a 3.74% decrease in their position. 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 a total of 219,255 shares of company stock worth $986,161 over the last quarter. 19.85% of the stock is currently owned by insiders.

Hedge Funds Weigh In On ZipRecruiter

Several institutional investors have recently made changes to their positions in ZIP. Caerus Investment Advisors LLC purchased a new position in shares of ZipRecruiter during the 1st quarter worth $25,000. AXQ Capital LP purchased a new stake in ZipRecruiter in the 2nd quarter worth approximately $38,000. Ritholtz Wealth Management purchased a new stake in ZipRecruiter in the 3rd quarter worth approximately $39,000. Focus Advisor Solutions LLC bought a new stake in ZipRecruiter during the 3rd quarter worth approximately $43,000. Finally, R Squared Ltd purchased a new stake in shares of ZipRecruiter in the third quarter worth $50,000. Institutional investors own 70.55% of the company’s stock.

More ZipRecruiter News

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

• Positive Sentiment: Zacks upgraded ZipRecruiter to Rank #1 (Strong Buy), citing improving earnings prospects. The report also points to solid earnings-estimate revisions as a possible near-term catalyst. ZipRecruiter upgraded to Strong Buy
• Positive Sentiment: Another report noted a lift in its fair-value estimate following an analyst price-target increase, adding to the constructive outlook. Fair value estimate increased
• Negative Sentiment: EVP Boris Shimanovsky sold 67,937 shares, reducing his direct holdings by 16.61%. The sale was executed through a pre-arranged Rule 10b5-1 plan, which may temper concerns that it reflects a new view of the company. SEC filing for insider sale

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.