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ZipRecruiter, Inc. (ZIP) Surges 11.3%: Is This an Indication of Further Gains?

Zacks Equity Research
·2 min read

ZipRecruiter, Inc. (ZIP) shares rallied 11.3% in the last trading session to close at $17.04. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 17.7% loss over the past four weeks.

The company’s board of directors has announced $150 million increase in its share repurchase program. This is in addition to the previously announced share repurchase amount of $100 million. As of Jun 15, 2022, the company had nearly $6.6 million shares of its Class A common stock available for repurchases under its share repurchase program. Such shareholder-friendly moves indicate the company’s commitment to create value for shareholders and underline its confidence in its business. These initiatives not only instill investor confidence, but also positively impact the company’s earnings per share.

 

This company is expected to post quarterly earnings of $0.06 per share in its upcoming report, which represents a year-over-year change of +110.9%. Revenues are expected to be $234.58 million, up 28.2% from the year-ago quarter.

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While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

For ZipRecruiter, Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on ZIP going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

ZipRecruiter, Inc. is part of the Zacks Business - Services industry. Bowman Consulting (BWMN), another stock in the same industry, closed the last trading session 0.4% higher at $12.15. BWMN has returned -25.9% in the past month.

For Bowman Consulting , the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.08. This represents a change of -42.9% from what the company reported a year ago. Bowman Consulting currently has a Zacks Rank of #1 (Strong Buy).


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Zacks Investment Research