Refile: BUZZ-Ziprecruiter drops after weak rev forecast

ZipRecruiter

16/08/2022 16:04

(Corrects days of week in bullet 1 to Tues and Mon from Weds
and Tues. Corrects day of week in bullet 2 to Mon from Tues)
** Shares of Ziprecruiter Inc  ZIP.N  down ~8% on Tues after the
online employee recruitment platform's forecast late on Mon
disappointed investors
    ** At least four analysts cut their price targets after ZIP
late on Mon cut its 2022 rev outlook  urn:newsml:reuters.com:*:nASA03LRV 
    ** "Employers, particularly on the (small and medium
business) side, began pulling back on job postings in the back
half of June, possibly pointing to a steeper descent back to a
more normalized labor environment," Barclays analyst Trevor
Young wrote in a client note, cutting his PT to $25 from $30
    ** 6 analysts cover ZIP, on avg rating it 'buy'. Median PT
now $25.50, which is ~32% above its current price of $19.30. A
month ago median PT was $28, per Refinitiv
    ** ZIP down ~23% YTD vs S&P 500's  .SPX  10% decrease

 (Reporting by Noel Randewich)
 ((noel.randewich@tr.com; Twitter: @randewich;))