Wall Street Zen Downgrades ZipRecruiter (NYSE:ZIP) to Buy

ZipRecruiter (NYSE:ZIP) was downgraded by equities researchers at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued on Sunday, Wall Street Zen reports.

A number of other research analysts have also weighed in on ZIP. UBS Group raised their price objective 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 report 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 report on Thursday, August 6th. Four analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $4.17.

ZipRecruiter Stock Down 1.0%

NYSE ZIP opened at $3.48 on Friday. ZipRecruiter has a 52 week low of $1.65 and a 52 week high of $5.61. The business has a 50 day moving average price of $4.21 and a 200-day moving average price of $3.48. The company has a market cap of $285.75 million, a price-to-earnings ratio of 9.93 and a beta of 1.44.

ZipRecruiter (NYSE:ZIP) last issued its earnings results on Wednesday, August 5th. The company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.59. The firm had revenue of $118.06 million during the quarter. On average, equities research analysts anticipate that ZipRecruiter will post 0.16 earnings per share for the current year.

Insider Activity at ZipRecruiter

In other ZipRecruiter news, President David Travers sold 24,705 shares of the firm’s stock in a transaction on Friday, September 18th. The stock was sold at an average price of $3.66, for a total transaction of $90,420.30. Following the transaction, the president directly owned 1,252,219 shares in the company, valued at approximately $4,583,121.54. This trade represents a 1.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Amy Garefis sold 7,837 shares of the firm’s stock in a transaction on Monday, September 21st. The shares were sold at an average price of $3.80, for a total value of $29,780.60. Following the transaction, the executive vice president owned 210,603 shares in the company, valued at approximately $800,291.40. This trade represents a 3.59% 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. In the last three months, insiders sold 141,435 shares of company stock valued at $558,174. 19.85% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. AXQ Capital LP purchased a new stake in ZipRecruiter in the 2nd quarter worth about $38,000. Caerus Investment Advisors LLC purchased a new stake in ZipRecruiter during the first quarter valued at about $25,000. Varde Management L.P. lifted its holdings in ZipRecruiter by 6.9% during the second quarter. Varde Management L.P. now owns 371,456 shares of the company’s stock valued at $1,393,000 after purchasing an additional 23,929 shares during the last quarter. Alpine Global Management LLC bought a new position in ZipRecruiter during the fourth quarter worth about $169,000. Finally, Hsbc Holdings PLC boosted its position in ZipRecruiter by 30.6% during the fourth quarter. Hsbc Holdings PLC now owns 208,392 shares of the company’s stock worth $808,000 after purchasing an additional 48,881 shares during the period. 70.55% of the stock is owned by 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.