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Boris Shimanovsky, the Executive Vice President and Chief Technology Officer of ZipRecruiter, Inc. (NYSE:ZIP), recently sold shares of the company as disclosed in a filing with the Securities and Exchange Commission. The company, which maintains impressive gross profit margins of 89.4% and a Fair overall financial health rating according to InvestingPro, has seen its stock decline nearly 40% over the past six months. On March 20, Shimanovsky sold 3,840 shares of ZipRecruiter’s Class A common stock at an average price of $5.9346 per share, amounting to a total transaction value of approximately $22,788.
The sale was executed under a Rule 10b5-1 trading plan, which Shimanovsky had adopted on December 10, 2024. Following this transaction, Shimanovsky retains ownership of 311,257 shares in the company. The shares were sold in multiple transactions at prices ranging from $5.84 to $6.06 per share.
In other recent news, ZipRecruiter reported its fourth-quarter 2024 financial results, exceeding revenue forecasts with $111 million against an expected $107.77 million. Despite this positive outcome, the company experienced a net loss of $12.9 million for the year. Analysts from Barclays (LON:BARC) downgraded ZipRecruiter shares from Overweight to Equal Weight, adjusting the price target to $6.00 from $10.00, following the company’s earnings report and guidance for 2025. Evercore ISI also reduced its price target to $10.00 from $13.00, maintaining an In Line rating, noting a mixed outcome with a year-over-year revenue decline of 18%.
Goldman Sachs adjusted its outlook, decreasing the price target from $9.00 to $8.00 while maintaining a Neutral rating. The firm highlighted ZipRecruiter’s outperformance in adjusted EBITDA for the fourth quarter but noted lower-than-expected guidance for the first quarter of 2025. S&P Global Ratings downgraded ZipRecruiter’s credit rating to ’B’ from ’B+’ due to persistent industry challenges and a significant decline in revenue over the past two years. The company’s revenue is projected to further decrease by about 6% in 2025, although there is cautious optimism for slight revenue growth by the fourth quarter of that year.
ZipRecruiter’s strategic initiatives, including increased marketing investments and product launches, aim to capture market share and drive future growth. The company remains optimistic about potential revenue growth by the fourth quarter of 2025, despite ongoing challenges in the labor market. Analysts continue to express concerns over the company’s valuation and the unclear trajectory towards positive revenue growth.
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