Jobs platform ZipRecruiter stock went public at the end of May. It was good timing as the market recovers from the Covid pandemic and millions of job seekers are trying to match up with the millions of unfilled job openings. On Thursday the Relative Strength (RS) Rating for ZipRecruiter (ZIP) climbed into a new percentile Thursday, as it rose from 69 to 73.
The 73 RS Rating means that ZipRecruiter stock has outperformed 73% of all stocks on key metrics over the past year.
ZipRecruiter Stock Direction Clarifies
History shows that the market’s biggest winners often have an 80 or higher RS Rating in the early stages of their moves. See if Santa Monica, Calif.-based ZipRecruiter stock can continue to rebound and hit that benchmark.
It’s hard to gauge the direction a recent IPO like ZipRecruiter stock will take. But as it emerges from its IPO base it’s putting up some powerful profit and sales figures. It assists companies matching job seekers with gaping holes in some companies’ staffs.
Among other key ratings, ZipRecruiter stock has an 87 IBD Composite Rating. IBD’s Composite Rating combines five separate proprietary ratings of fundamental and technical performance into one easy-to-use rating. The best growth stocks have a Composite Rating of 90 or better
Meanwhile, earnings per share popped 218% year over year, its fourth quarter in a row of triple-digit profit growth. Revenue for the small-cap was up 11% to $125.4 million. ZipRecruiter will hold a press conference after the market close on Aug. 12 to discuss its second quarter financial results.
Others In Staffing Companies Group
Additionally, the company earns the No. 8 rank among its peers in the Commercial Services-Staffing industry group. Cross Country Healthcare (CCRN) and Headhunter Group (HHR) are among the group’s highest-rated stocks.
ZipRecruiter stock broke out earlier, but has fallen back below the prior 24.93 entry from a IPO base. If a stock you’re tracking climbs above a buy point then retreats 7% or more below the original entry price, it’s considered a failed base. It’s best to wait for the stock to form a new pattern and breakout. Also keep in mind that the most recent consolidation is a later-stage base, and those involve more risk.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
This exclusive rating from Investor’s Business Daily identifies share price performance with a 1 (worst) to 99 (best) score. The grade shows how a stock’s price behavior over the trailing 52 weeks compares to all the other stocks in our database.
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