ZipRecruiter (ZIP) Stock: $19 Target From JPMorgan

By Amit Chowdhry ● Jul 11, 2022
  • The shares of ZipRecruiter Inc (NYSE: ZIP) recently received a $19 price target from JPMorgan. These are the details.

The shares of ZipRecruiter Inc (NYSE: ZIP) recently received a $19 price target from JPMorgan. And JPMorgan analyst Doug Anmuth is maintaining a “Neutral” rating on the shares.

Anmuth adjusted the rating while reducing the estimates and price targets on 26 companies across his interest coverage universe based on macro pressures, currency moves, and company-specific dynamics. And the overall macro environment has dropped since the first-quarter earnings with inflation reaching a 40-year high in May, fuel costs up 45% since early February, and Chase credit card data indicating slowing consumer spending and lower consumer confidence.

Plus JPMorgan models suggest a 66% chance of a recession over the next 2 years and an 83% chance over the next 3 years. And Anmuth believes that the Internet sector continues to have secular growth, but added that it is far more mature than in 2008-2009, and the ability to offset broader and macro trends is more limited.

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