Benzinga | Aug 13, 2021 02:49PM EDT

Analysts Sees Double Digit Upside On ZipRecruiter Following Q2 Earnings Beat

* Raymond James analyst Aaron Kessler raised the price target on ZipRecruiter Inc (NYSE:ZIP) to $40 from $36, implying a 37.7% upside, and reaffirmed a Strong Buy.

* The rating follows the company's robust Q2 results and raised guidance.

* ZipRecruiter's Q2 revenue of $183 million beat the analyst consensus of $160.4 million. It raised the FY21 revenue guidance from $580 million - $600 million to $651 million - $665 million above the analyst consensus of $595.3 million.

* While ZipRecruiter expects 2H to return to a more normal environment, Kessler notes that the company meaningfully raised full-year revenue and EBITDA guidance to reflect the increased employer demand.

* Barclays raised the price target to $38 from $30, implying a 30.9% upside, and maintained Overweight.

* Price Action: ZIP shares traded lower by 0.15% at $28.99 on the last check Friday.