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Investing.com – Ziprecruiter (NYSE:ZIP) shares were up over 3% in Monday’s premarket trading as several brokerages put out reports showing their confidence in the company operating a jobs website.
Goldman Sachs called it a ‘buy’ while both William Blair and Evercore ISI put out an ‘outperform’ rating on the stock.
Raymond James analyst Aaron Kessler has initiated coverage with a ‘strong buy’ and a target of $36, a 69.3% upside from the stock’s Friday closing of $21.26.
Kessler said their confidence stemmed from a large addressable market that is increasingly shifting online with ZipRecruiter commanding a strong brand recognition.
According to the analyst, ZipRecruiter’s unique AI-powered matching technology drives better outcomes for both employers and job seekers. He expects the company’s long-term revenue to grow at more than 15% with EBITDA margins being 30% plus.
