ZipRecruiter (NYSE:ZIP) Stock Price Crosses Above 50 Day Moving Average Following Insider Selling

ZipRecruiter, Inc. (NYSE:ZIP) shares passed above its 50-day moving average during trading on Monday after an insider bought additional shares in the company. The stock has a 50-day moving average of $4.04 and traded as high as $4.31. ZipRecruiter shares last traded at $4.2950, with a volume of 1,089,040 shares changing hands.

Wall Street Analysts Forecast Growth

ZIP has been the subject of several recent analyst reports. UBS Group upped their price objective on shares of ZipRecruiter from $4.00 to $4.50 and gave the stock a “neutral” rating in a report on Wednesday, July 22nd. The Goldman Sachs Group lifted 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. Weiss Ratings raised shares of ZipRecruiter from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, October 27th. Finally, Wall Street Zen lowered shares of ZipRecruiter from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Four analysts have rated the stock with a Hold rating. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $4.17.

ZipRecruiter Stock Performance

The firm has a 50 day moving average of $4.04 and a two-hundred day moving average of $3.39. The stock has a market cap of $353.18 million, a P/E ratio of 12.27 and a beta of 1.54.

ZipRecruiter (NYSE:ZIP) last released its earnings results on Monday, November 9th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.17. The business had revenue of $124.44 million during the quarter. On average, sell-side analysts anticipate that ZipRecruiter, Inc. will post -0.26 EPS for the current fiscal year.

Institutional Investors Weigh In On ZipRecruiter

Hedge funds have recently modified their holdings of the business. Militia Capital Management LLC bought a new stake in shares of ZipRecruiter in the 1st quarter worth about $399,000. Readystate Asset Management LP bought a new position in ZipRecruiter during the 1st quarter valued at about $347,000. State of Wyoming lifted its holdings in ZipRecruiter by 458.9% during the 3rd quarter. State of Wyoming now owns 123,918 shares of the company’s stock valued at $435,000 after purchasing an additional 101,748 shares during the last quarter. Sei Investments Co. bought a new position in ZipRecruiter during the 1st quarter valued at about $140,000. Finally, Public Employees Retirement System of Ohio acquired a new position in ZipRecruiter in the second quarter valued at about $241,000. 70.55% of the stock is owned by institutional investors.

About ZipRecruiter

ZipRecruiter, Inc operates an online employment marketplace that connects businesses with job seekers. Its platform enables employers to create and distribute job postings across a broad network of online channels, while helping candidates search for available positions and apply for roles.

The company uses technology and matching tools to recommend relevant candidates to employers and suitable job opportunities to job seekers. Its services are designed for businesses of various sizes, including small and midsize employers, as well as staffing firms and larger organizations.

ZipRecruiter was founded in 2010 by Ian Siegel, Joe Edmonds, Ward Poulos and Will Kinnear.