ZipRecruiter jumps on strong Q2, upbeat outlook

ZipRecruiter

13/08/2021 13:34

** Shares of online jobs marketplace ZipRecruiter  ZIP.N  up
9.4% at $31.76 premarket
    ** ZIP on Thursday reported better-than-expected quarterly
revenue of $183 mln, which rose 109% y/y  urn:newsml:reuters.com:*:nBw7TKDc1a
 urn:newsml:reuters.com:*:nASA02IXN
    ** Co also expects a robust hiring environment to drive
strong growth in the second half of 2021
    ** At least five brokerages raise their PTs on co in the
range between $35 and $40
    ** J.P.Morgan raises PT to $35 from $24; believes ZIP is
well positioned to benefit in the near term from strong demand
for talent as the economy recovers, and in the long term from
recruitment spend shifting more to online channels
    ** Evercore ISI believes that as a leading player in the
online recruitment market, ZIP is set to fully participate in
the multi-year secular trends in the sector; raises PT to $40
from $31
    ** 5 of 6 brokerages rate the stock "buy" or higher and 1
"hold'; their median PT is $39 - Refinitiv
    ** Shares up 37.6% since their market debut on May 26

 (Reporting by Tapanjana Rudra)
 ((Tapanjana.Rudra@thomsonreuters.com;))