ZipRecruiter price target lowered to $11 from $13 at UBS

UBS lowered the firm’s price target on ZipRecruiter to $11 from $13 and keeps a Neutral rating on the shares. The U.S. employment market could remain subdued in the near-term, as signified by lower job listings and compounded by reduced employer willingness to pay for job listings, the analyst tells investors in a research note. While ZipRecruiter is a well-established online marketplace that should capitalize when the employment cycle improves, shares appear to appropriately price in near-term macro challenges with near-term risk/reward balanced, UBS says.