Ziprecruiter Stock Pops After Slew of Fresh Analyst Coverage

Today's pop has helped ZIP conquer a key resistance level

Digital Content Manager
Jun 21, 2021 at 10:25 AM
facebook twitter linkedin

The shares of Ziprecruiter Inc (NYSE:ZIP) are up 4.2% to trade at $22.16 at last check, after at least five brokerage firms initiated coverage on the security this morning. For one, J.P. Morgan Securities started with a "neutral" rating, as well as a $24 price target, noting it expects revenue growth driven by a strong job market after Covid-19. Raymond James was even more optimistic, beginning with a "strong buy" rating and a $36 price target, as it cheered ZIP's leadership position in a recruiting market that is shifting online. Echoing this, William Blair and Evercore started with an "outperform" rating, while Goldman Sachs initiated with a "buy."

Analysts are still making up their minds on ZIP, with this slew of fresh analyst coverage coming after the company's market debut on May 26, when it went public with an initial public offering (IPO) price of $18 per share.

Today's pop has Ziprecruiter stock pacing for its best session in more than two weeks. The security had been taking a breather from a June 3, all-time high of $24.83, guided lower by the 10-day moving average, though shares seem to have now conquered that level. Week-to-date, ZIP is up 4.3%.

What's more, the equity's recent positive price action has stretched its 14-Day Relative Strength Index (RSI) up to 58. In other words, Ziprecruiter stock may be inching towards "overbought" territory.



Now is the time to join our thriving community of Event Traders who consistently profit from every earnings season. With this discounted subscription opportunity, you'll stay ahead of the curve and seize opportunities others miss. Do not let Q3 earnings season pass you by – subscribe now and supercharge your portfolio with expert insights that turn market reactions into profit-generating opportunities!! Don't waste another second... join us right now before the next trade targeting +200% is released!