Ziprecruiter Inc Stock Price, News & Analysis

ZipRecruiter has released a report revealing that nearly two-thirds of job seekers prefer remote work, even considering pay cuts for the opportunity. The research indicates over 60% of seekers prioritize remote roles, with young workers willing to sacrifice up to 18% of their salary. Commuting costs have surpassed health concerns as the primary motivation for remote work, affecting job searches. The report emphasizes the immense potential for remote roles across various industries, especially technology, where currently only 30% of jobs are advertised as remote.

ZipRecruiter has launched SchoolJobsNearMe.org, an online portal aimed at addressing the nationwide shortage of teachers and school staff. This initiative aligns with President Biden’s call for action in education. The portal features over 120,000 job listings in K-12 education, allowing job seekers to find roles by various criteria. ZipRecruiter aims to enhance its services to attract high-quality professionals into the education sector, responding to a reported loss of 299,000 positions in public schools since the pandemic.

ZipRecruiter, a leading online employment marketplace, has announced its participation in key investor conferences. The company will present at the Evercore ISI 2nd Annual Technology Conference on September 7, 2022, followed by the Citi Global Technology Conference on September 8, 2022, and the Goldman Sachs Communacopia + Technology Conference on September 15, 2022. Each conference presentation will be available via live webcast. ZipRecruiter is recognized for its powerful job matching technology and has consistently been the top-rated job search app on iOS and Android for five years.

ZipRecruiter reported a 31% year-over-year increase in quarterly revenue, reaching $239.9 million. The company has adjusted its revenue guidance for 2022 to between $883 million and $897 million, reflecting a 20% growth over 2021. Additionally, the adjusted EBITDA guidance is raised to $163 million to $177 million, representing a margin of 19%. Despite strong results, CEO Ian Siegel noted signs of a cooling hiring environment in June 2022, prompting a cautious outlook.

ZipRecruiter has appointed Yvonne Hao and Emily McEvilly to its Board of Directors, effective July 29 and September 1, 2022, respectively. Hao, former COO and CFO of PillPack, brings significant experience in e-commerce and private equity. McEvilly, Chief Customer Officer at OneTrust and ex-Chief Customer Officer at Workday, contributes extensive knowledge in customer service within the HR sector. The company expresses gratitude to the departing board member, Brian Lee, for his contributions.

ZipRecruiter will announce its second quarter 2022 financial results on August 15, 2022, for the period ending June 30, 2022. The announcement will be followed by a conference call at 2:00 PM PT (5:00 PM ET) to discuss the results. Investors can access the conference call via telephone or a live webcast. ZipRecruiter has been recognized as the #1 job search app on iOS & Android for five consecutive years and is rated the top employment job site by G2.

ZipRecruiter (NYSE:ZIP) announced its inclusion in the Russell 3000 Index, effective June 27, 2022, marking a significant milestone for the company. This membership is crucial as it enhances investor awareness and positions ZipRecruiter among the largest U.S. stocks, with over $12 trillion in assets benchmarked against Russell indexes. CEO Ian Siegel stated that this addition aligns with ZipRecruiter's mission to connect job seekers with opportunities. The Russell 3000 Index is influential for investment managers and institutional investors.

ZipRecruiter (NYSE:ZIP) has announced a $150 million increase to its share repurchase program, raising the total available for repurchase to $156.6 million. This move reflects the company’s confidence in its growth potential despite prioritizing investments over capital return. Additionally, ZipRecruiter has initiated an accelerated share repurchase (ASR) agreement for $50 million with Goldman Sachs, expecting to complete final settlements by Q3 2022. The repurchase program will be funded through existing cash and operational cash flows.

ZipRecruiter announced its 2022 Grad Report, highlighting a strong job market for new graduates with two job openings for every unemployed person. Key findings include a near 800% increase in signing bonuses and a shift in employer expectations, lowering experience requirements. Additionally, 90,000 job postings now offer student loan repayment assistance. Despite the optimism, only 1% of internships are remote, presenting challenges for graduates. The report emphasizes that college graduates can earn 59% more than high school graduates, reflecting favorable conditions for new entrants.