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ZipRecruiter Shares Rally Premarket As Revenue Rises

Sam Boughedda trader
Updated 13 Aug 2021

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ZipRecruiter (NYSE: ZIP)

Shares of ZipRecruiter (NYSE: ZIP) have surged over 13% Friday morning after reporting its second-quarter financial results on Thursday after the markets close.

The company reported a 55 cents per share loss, although revenue soared to $182.9m, coming in $22m ahead of consensus. Revenue also beat the $87.6m reported in the previous year's quarter.

“ZipRecruiter delivered record revenue in Q2, our first quarter as a public company. We are seeing high levels of activity on both sides of our marketplace and ZipRecruiter is helping America get back to work by actively connecting people to their next great opportunity,” said Ian Siegel, ZIP CEO.

Sales for the third quarter are forecast at $182m and $188m, up from the previous consensus of $158m.

The firm previously predicted full-year guidance of between $580m and $600m; however, after a strong performance, this has been raised to $651m to $665m.

ZipRecruiter's stock has been boosted by Raymond James, who raised the company's price target to $40 from $36. As a result, the share price is currently at $33.05, gaining 13.81%.

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Sam is a trader and lead stock market writer at AskTraders. After starting his career in the forex market, Sam now focuses on stocks, specifically consumer staples.