ZipRecruiter downgraded to Neutral from Buy at Goldman Sachs

Goldman Sachs downgraded ZipRecruiter to Neutral from Buy with an unchanged price target of $15. The analyst sees a more balanced risk/reward skew in the equity following the over 20% rally since the company’s Q3 earnings results in early November. While a number of long-term themes remain intact in favor of ZipRecruiter over the near-to-medium term, Goldman expects short-term headwinds, largely driven by the broader macro environment, to persist into 2024, the analyst tells investors in a research note.