Analysts Sees Double Digit Upside On ZipRecruiter Following Q2 Earnings Beat

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  • Raymond James analyst Aaron Kessler raised the price target on ZipRecruiter Inc ZIP to $40 from $36, implying a 37.7% upside, and reaffirmed a Strong Buy.
  • The rating follows the company's robust Q2 results and raised guidance. 
  • ZipRecruiter's Q2 revenue of $183 million beat the analyst consensus of $160.4 million. It raised the FY21 revenue guidance from $580 million - $600 million to $651 million - $665 million above the analyst consensus of $595.3 million.
  • While ZipRecruiter expects 2H to return to a more normal environment, Kessler notes that the company meaningfully raised full-year revenue and EBITDA guidance to reflect the increased employer demand.
  • Barclays raised the price target to $38 from $30, implying a 30.9% upside, and maintained Overweight.
  • Price Action: ZIP shares traded lower by 0.15% at $28.99 on the last check Friday.
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