UBS analysts lowered their price target for ZipRecruiter (NYSE:ZIP) to $11 from $13 while maintaining their Neutral rating on the stock. The analysts’ rating reflects concerns about the U.S. employment market, which they believe may remain subdued in the near term.
This is indicated by a decline in job listings and a decreased willingness among employers to pay for job postings. While ZipRecruiter is well-positioned to benefit when the employment market rebounds, the analysts suggest that the current share price already accounts for these near-term macroeconomic challenges, resulting in a balanced risk/reward profile for the stock.