ZipRecruiter (ZIP)
Market Price (11/8/2026): $3.75 | Market Cap: $308.3 MilSector: Communication Services | Industry: Interactive Media & Services
ZipRecruiter (ZIP)
Market Price (11/8/2026): $3.75Market Cap: $308.3 MilSector: Communication ServicesIndustry: Interactive Media & Services
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 9.1%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 4.9% Megatrend and thematic driversMegatrends include Artificial Intelligence, Cloud Computing, and E-commerce & Digital Retail. Themes include AI Software Platforms, Show more. | Weak multi-year price returns2Y Excs Rtn is -88%, 3Y Excs Rtn is -139% | Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -16% Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 97% Key risksZIP key risks include [1] limited competitive differentiation due to its AI strategy and lack of an Applicant Tracking System (ATS), Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 9.1%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 4.9% |
| Megatrend and thematic driversMegatrends include Artificial Intelligence, Cloud Computing, and E-commerce & Digital Retail. Themes include AI Software Platforms, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -88%, 3Y Excs Rtn is -139% |
| Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -16% |
| Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 97% |
| Key risksZIP key risks include [1] limited competitive differentiation due to its AI strategy and lack of an Applicant Tracking System (ATS), Show more. |
Qualitative Assessment
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ZipRecruiter (ZIP) stock has lost about 5% since 7/31/2026 because of the following key factors:
1. Subdued Labor Market and Macroeconomic Headwinds Dampened Investor Confidence.
The overarching macroeconomic environment significantly impacted investor sentiment for ZipRecruiter. The September Employment Report, released on October 2, 2026, indicated a slowdown in job growth with only 29,000 jobs added and downward revisions to previous months, alongside a deceleration in wage growth. This tighter fiscal environment, characterized by higher Treasury yields and Federal Reserve rate hikes making borrowing more expensive, negatively affected hiring and expansion plans, creating a challenging backdrop for online employment marketplaces like ZipRecruiter.
2. Investor Skepticism Despite Strong Fiscal Q2 2026 Performance.
Despite reporting strong fiscal Q2 2026 results (ended June 30, 2026) on August 5, 2026, the stock declined 5.35% on the announcement day. ZipRecruiter's revenue of $118.1 million surpassed analyst forecasts by approximately 5.5%, and its adjusted EBITDA margin expanded to 12% from 8% year-over-year. However, investors remained cautious, weighing the sustainability of the recovery against persistent challenges, including a subdued labor market, declining revenue per employer, and competitive pressures.
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ZipRecruiter (ZIP) stock has lost about 5% since 7/31/2026 because of the following key factors:
1. Subdued Labor Market and Macroeconomic Headwinds Dampened Investor Confidence.
The overarching macroeconomic environment significantly impacted investor sentiment for ZipRecruiter. The September Employment Report, released on October 2, 2026, indicated a slowdown in job growth with only 29,000 jobs added and downward revisions to previous months, alongside a deceleration in wage growth. This tighter fiscal environment, characterized by higher Treasury yields and Federal Reserve rate hikes making borrowing more expensive, negatively affected hiring and expansion plans, creating a challenging backdrop for online employment marketplaces like ZipRecruiter.
2. Investor Skepticism Despite Strong Fiscal Q2 2026 Performance.
Despite reporting strong fiscal Q2 2026 results (ended June 30, 2026) on August 5, 2026, the stock declined 5.35% on the announcement day. ZipRecruiter's revenue of $118.1 million surpassed analyst forecasts by approximately 5.5%, and its adjusted EBITDA margin expanded to 12% from 8% year-over-year. However, investors remained cautious, weighing the sustainability of the recovery against persistent challenges, including a subdued labor market, declining revenue per employer, and competitive pressures.
3. Cautious Analyst Outlook and Price Targets.
Throughout the specified period, the consensus among analysts for ZipRecruiter remained a "Hold" rating. By November 4, 2026, the average analyst price target was $4.17, which represented a forecasted downside of 7.06% from the stock's price of $4.48 at that time. This conservative analyst sentiment contributed to the lack of upward momentum for the stock.
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Stock Movement Drivers
Fundamental Drivers
The -4.6% change in ZIP stock from 7/31/2026 to 11/7/2026 was primarily driven by a -8.1% change in the company's P/S Multiple.| (LTM values as of) | 7312026 | 11072026 | Change |
|---|---|---|---|
| Stock Price ($) | 3.94 | 3.76 | -4.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 446 | 452 | 1.3% |
| P/S Multiple | 0.7 | 0.7 | -8.1% |
| Shares Outstanding (Mil) | 84 | 82 | 2.5% |
| Cumulative Contribution | -4.6% |
Market Drivers
7/31/2026 to 11/7/2026| Return | Correlation | |
|---|---|---|
| ZIP | -4.6% | |
| Market (SPY) | -1.6% | 44.4% |
| Sector (XLC) | -3.2% | 32.8% |
Fundamental Drivers
The 28.8% change in ZIP stock from 4/30/2026 to 11/7/2026 was primarily driven by a 23.3% change in the company's P/S Multiple.| (LTM values as of) | 4302026 | 11072026 | Change |
|---|---|---|---|
| Stock Price ($) | 2.92 | 3.76 | 28.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 449 | 452 | 0.7% |
| P/S Multiple | 0.6 | 0.7 | 23.3% |
| Shares Outstanding (Mil) | 85 | 82 | 3.7% |
| Cumulative Contribution | 28.8% |
Market Drivers
4/30/2026 to 11/7/2026| Return | Correlation | |
|---|---|---|
| ZIP | 28.8% | |
| Market (SPY) | 2.6% | 28.1% |
| Sector (XLC) | -9.8% | 29.3% |
Fundamental Drivers
The -19.1% change in ZIP stock from 10/31/2025 to 11/7/2026 was primarily driven by a -27.4% change in the company's P/S Multiple.| (LTM values as of) | 10312025 | 11072026 | Change |
|---|---|---|---|
| Stock Price ($) | 4.65 | 3.76 | -19.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 450 | 452 | 0.4% |
| P/S Multiple | 0.9 | 0.7 | -27.4% |
| Shares Outstanding (Mil) | 91 | 82 | 10.9% |
| Cumulative Contribution | -19.1% |
Market Drivers
10/31/2025 to 11/7/2026| Return | Correlation | |
|---|---|---|
| ZIP | -19.1% | |
| Market (SPY) | 8.7% | 32.3% |
| Sector (XLC) | -7.9% | 29.1% |
Fundamental Drivers
The -64.7% change in ZIP stock from 10/31/2023 to 11/7/2026 was primarily driven by a -42.9% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 10312023 | 11072026 | Change |
|---|---|---|---|
| Stock Price ($) | 10.65 | 3.76 | -64.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 792 | 452 | -42.9% |
| Net Income Margin (%) | 7.5% | 6.2% | -17.3% |
| P/E Multiple | 18.0 | 11.0 | -39.1% |
| Shares Outstanding (Mil) | 100 | 82 | 22.7% |
| Cumulative Contribution | -64.7% |
Market Drivers
10/31/2023 to 11/7/2026| Return | Correlation | |
|---|---|---|
| ZIP | -64.7% | |
| Market (SPY) | 81.9% | 34.5% |
| Sector (XLC) | 67.1% | 32.0% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| ZIP Return | 104% | -34% | -15% | -48% | -46% | -4% | -69% |
| Peers Return | 65% | -31% | 14% | -10% | -16% | 52% | 48% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 12% | 105% |
Monthly Win Rates [3] | |||||||
| ZIP Win Rate | 42% | 25% | 50% | 25% | 42% | 64% | |
| Peers Win Rate | 70% | 33% | 45% | 40% | 45% | 62% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 45% | |
Max Drawdowns [4] | |||||||
| ZIP Max Drawdown | -29% | -42% | -57% | -54% | -57% | -57% | |
| Peers Max Drawdown | -24% | -47% | -35% | -32% | -47% | -37% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: MSFT, UPWK, DHX, RHI, MAN.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 11/6/2026 (YTD)
How Low Can It Go
| Event | ZIP | S&P 500 |
|---|---|---|
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -13.4% | -7.8% |
| % Gain to Breakeven | 15.4% | 8.5% |
| Time to Breakeven | 9 days | 18 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -23.5% | -17.9% |
| % Gain to Breakeven | 30.7% | 21.8% |
| Time to Breakeven | 3525 days | 123 days |
In The Past
ZipRecruiter's stock fell -13.4% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 15.4% gain to breakeven.
Preserve Wealth
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Asset Allocation
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| Event | ZIP | S&P 500 |
|---|---|---|
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -23.5% | -17.9% |
| % Gain to Breakeven | 30.7% | 21.8% |
| Time to Breakeven | 3525 days | 123 days |
In The Past
ZipRecruiter's stock fell -13.4% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 15.4% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About ZipRecruiter (ZIP)
ZipRecruiter (NASDAQ: ZIP) operates an online employment marketplace that efficiently connects job seekers with employers. The company's core business centers on providing a digital platform that streamlines the hiring process, enabling businesses to post open positions and individuals to discover and apply for job opportunities.
The platform functions as a two-sided marketplace. For employers, ZipRecruiter offers services to easily post job openings and access a wide pool of potential candidates, along with other features designed to facilitate their recruitment efforts. For job seekers, the company provides a user-friendly experience to browse available jobs and apply quickly, often with a single click, thereby simplifying their job search process.
ZipRecruiter's primary customers are businesses of varying sizes seeking to hire new employees across diverse industries and roles. On the other side, its market comprises individuals actively looking for employment opportunities. The company essentially serves the broad labor market, acting as an intermediary that matches the demand for talent from employers with the supply of workers from job seekers.
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Here are 1-3 brief analogies for ZipRecruiter:
The Amazon Marketplace for jobs
eBay for job listings
Uber for job searching
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- Job Posting and Employer Solutions: A platform that enables employers to post job openings, manage candidates, and access tools for recruiting and hiring.
- Job Search and Application Platform: A service for job seekers to discover job opportunities and apply to them with a single click.
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ZipRecruiter (ZIP) primarily sells its services to other companies, specifically employers looking to hire job seekers.
Due to the nature of its business as a job marketplace, ZipRecruiter serves a highly diverse and fragmented customer base of employers across numerous industries and organizational sizes. Its platform is utilized by a wide spectrum of businesses, including:
- Small and Medium-sized Businesses (SMBs)
- Large Enterprises
ZipRecruiter does not publicly disclose specific "major customers" by name in its financial filings or other public statements. This is typical for companies operating a job marketplace, as their revenue is derived from a vast number of individual employers rather than a concentrated base of a few large clients. No single employer or a small group of employers is known to constitute a significant portion of ZipRecruiter's overall revenue.
Therefore, while its customers are indeed other companies (employers), specific names of major customers are not publicly identifiable.
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- Amazon.com, Inc. (AMZN)
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Ian Siegel, Chief Executive Officer & Co-Founder
Ian Siegel co-founded ZipRecruiter in 2010 and serves as its Chief Executive Officer. Prior to founding ZipRecruiter, he held executive product and technology leadership roles at companies including CitySearch, Stamps.com, Rent.com (an eBay company), Pictage, and MyLife.com. Siegel has a proven track record of building and scaling successful internet businesses.
Timothy Yarbrough, EVP, Chief Financial Officer
Timothy Yarbrough is the EVP, Chief Financial Officer at ZipRecruiter, where he leads Accounting, Finance, Business Planning & Operations, and Revenue Operations. He played a key role in guiding ZipRecruiter's growth from a startup to a publicly traded company. Before joining ZipRecruiter, Tim was the Finance Director at Convertro, Inc. through its acquisition by AOL.com, and held various managerial and strategic finance roles at Qualcomm, Inc.
David Travers, President
David Travers is the President of ZipRecruiter. Prior to his current role, he was the Co-Founder and Co-Managing Partner of Basepoint Ventures and a Partner at Rustic Canyon Partners, both venture capital firms. He also worked in Corporate Strategy at The Walt Disney Company and served as an Executive Assistant to the National Security Advisor in the White House. His initial belief in ZipRecruiter stemmed from his time as a venture capital investor.
Boris Shimanovsky, EVP, Chief Technology Officer
Boris Shimanovsky serves as the EVP, Chief Technology Officer at ZipRecruiter, leading all engineering and technology functions. He is responsible for empowering his technology team and enabling ZipRecruiter's goals through scalable systems, data, and machine learning/Artificial Intelligence practices. Before joining ZipRecruiter in June 2020, he was SVP of Engineering at Foursquare and Chief Technology Officer at Factual, Inc. He also co-founded Chronos Software Group.
Amy Garefis, EVP, Chief Accounting Officer & Chief People Officer
Amy Garefis is the EVP, Chief Accounting Officer & Chief People Officer at ZipRecruiter, overseeing the People Team, and previously leading Accounting, Tax, Internal Audit, Payroll & Benefits. Prior to ZipRecruiter, she was the Vice President and Controller for a large broker-dealer and held management roles at a boutique technology investment bank and Sony Pictures.
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Here are the key risks to ZipRecruiter's business:
- Sensitivity to Economic Cycles and Hiring Demand: ZipRecruiter's business is highly dependent on the overall health of the economy and the demand for hiring. A weaker job market, characterized by slower hiring and reduced job seeker churn, directly translates to declining revenue and profitability for the company. The company's significant exposure to small and medium-sized businesses further exacerbates this vulnerability during economic downturns.
- Intense Competition and Rapid Technological Advancements: The online recruitment market in which ZipRecruiter operates is highly competitive and fragmented, with numerous players including large rivals like Indeed, LinkedIn, Google, and Meta. While ZipRecruiter leverages AI for its matching technology, the rapid evolution of AI and the potential for companies to adopt their own internal hiring solutions or AI-based tools could threaten ZipRecruiter's market share and growth. The need to continuously innovate and adapt to technological changes and competitive pressures is crucial for its sustained success.
- Technology and Uptime Risks, including Data Security and Privacy: ZipRecruiter relies entirely on cloud infrastructure, making it susceptible to technology failures and service disruptions. Furthermore, the company faces risks associated with evolving global regulations on privacy, data protection, AI, and cybersecurity. Past data security incidents indicate an ongoing need for robust cybersecurity measures, as breaches could lead to reputational damage, financial losses, and regulatory penalties.
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The clear emerging threat to ZipRecruiter is the proliferation and increasing adoption of **AI-driven proactive talent acquisition platforms and internal talent marketplaces**. These platforms leverage artificial intelligence to dynamically match candidates (both internal to organizations and external) with opportunities based on skills, experience, and potential, often bypassing the traditional model of employers posting jobs and job seekers manually applying. As companies increasingly adopt these sophisticated systems for talent intelligence, internal mobility, and direct sourcing, the reliance on external job boards for sourcing and application management may diminish, similar to how streaming services disrupted physical media rentals.
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ZipRecruiter operates within the U.S. employment and recruiting sector, which has a total addressable market (TAM) exceeding $300 billion. Within this broader market, online recruitment sites, representing ZipRecruiter's core service, constitute a segment exceeding $15 billion.
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Expected Drivers of Future Revenue Growth for ZipRecruiter (ZIP)
Over the next 2-3 years, ZipRecruiter (ZIP) is expected to drive future revenue growth through several key initiatives and market trends:
- Advancements in AI-Powered Solutions and Product Innovation: ZipRecruiter is actively investing in and launching new artificial intelligence (AI)-powered tools to enhance the experience for both job seekers and employers. Recently introduced features like the "Be Seen First" tool, which makes candidates nearly twice as likely to start a conversation with employers, and improvements to its AI-powered career advisor "Phil," are designed to increase candidate engagement and improve matching efficiency. These innovations aim to drive deeper platform engagement and capture greater market share by offering a more streamlined and effective hiring process.
- Expansion of Enterprise and Performance Marketing Revenue: The company is seeing growth in its performance marketing revenue and its enterprise segment. Performance marketing revenue accelerated in Q4 2025, and the combination of performance marketing and enterprise accounts now constitutes a growing portion of total revenue, indicating a strategic shift towards more stable and higher-value customer relationships. ZipRecruiter has also rolled out an Enterprise Plan specifically tailored with features to meet the recruitment needs of larger businesses.
- Market Share Gains and Labor Market Normalization: Despite a currently challenging and subdued hiring environment, ZipRecruiter's management anticipates gaining market share and is confident in its position to capitalize on growth as labor market conditions eventually normalize. The company achieved a return to year-over-year revenue growth in Q4 2025, a significant milestone amid prevailing economic headwinds, suggesting resilience and potential for further recovery when the overall hiring demand strengthens.
- Increased Job Seeker Traffic Driven by AI and Large Language Models: ZipRecruiter's platform is expanding its reach, with overall job seeker traffic outperforming its largest competitors throughout 2025. Notably, site visits originating from AI and large language model engines more than doubled year-over-year in Q4 2025. This indicates a successful strategy in optimizing discovery within these emerging generative AI channels, which is expected to lead to a higher volume of job applications and increased employer interest, thereby contributing to revenue growth.
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Share Repurchases
- As of December 31, 2025, ZipRecruiter had $121.2 million remaining for future share repurchases under its active program.
- In 2025, the company repurchased 18.9 million shares for $101.9 million.
- On August 11, 2025, the board authorized a $100 million increase to the share repurchase program, bringing the total program size to $750.0 million.
Capital Expenditures
- Capital expenditures for the trailing twelve months ended September 2025 were -$7.87 million.
- ZipRecruiter plans to continue investing in technology and marketing to drive growth and improve its marketplace.
- The company made significant investments in research and development, accounting for 28% of total revenue in both 2025 and 2024, primarily to improve matching technology and user experience.
Peer Outperformance in Interactive Media & Services
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Wireless Telecommunication Services | 3 | -10.4% | 16.2% | 38.9% | ECHO 262% · TMUS 39% |
| Publishing | 6 | 25.1% | 14.8% | 8.2% | NYT 44% · NWSA 13% · WLY 10% |
| Integrated Telecommunication Services | 21 | -13.2% | 18.4% | -23.8% | GSAT 237% · AD 102% · TDS 94% |
| Movies & Entertainment | 22 | 11.6% | 45.2% | -29.4% | IMAX 130% · FWONA 94% · BATRA 81% |
| Interactive Media & Services ← | 33 | -35.8% | -39.4% | -71.0% | GOOGL 93% · META 81% · CARG -8% |
| Broadcasting | 14 | -15.1% | -21.3% | -71.3% | FOXA 71% · NXST 34% · SIRI -39% |
| Alternative Carriers | 4 | -40.8% | 15.9% | -73.3% | IRDM 10% · LUMN -69% |
| Advertising | 18 | -36.2% | -11.4% | -73.3% | APP 297% · OMC 50% · MGNI 21% |
| Interactive Home Entertainment | 8 | -43.6% | -61.0% | -73.5% | TTWO 15% · RBLX -37% · PINS -59% |
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 25.95 |
| Mkt Cap | 1.7 |
| Rev LTM | 3,035 |
| Op Inc LTM | 98 |
| FCF LTM | 91 |
| FCF 3Y Avg | 97 |
| CFO LTM | 121 |
| CFO 3Y Avg | 123 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | -0.4% |
| Rev Chg 3Y Avg | -3.5% |
| Rev Chg Q | 2.4% |
| QoQ Delta Rev Chg LTM | 0.6% |
| Op Inc Chg LTM | 27.0% |
| Op Inc Chg 3Y Avg | 6.8% |
| Op Mgn LTM | 7.1% |
| Op Mgn 3Y Avg | 5.8% |
| QoQ Delta Op Mgn LTM | 0.6% |
| CFO/Rev LTM | 14.1% |
| CFO/Rev 3Y Avg | 13.4% |
| FCF/Rev LTM | 10.6% |
| FCF/Rev 3Y Avg | 8.6% |
Price Behavior
| Market Price | $3.76 | |
| Market Cap ($ Bil) | 0.3 | |
| First Trading Date | 04/14/2011 | |
| Distance from 52W High | -31.5% | |
| 50 Days | 200 Days | |
| DMA Price | $4.05 | $3.38 |
| DMA Trend | down | up |
| Distance from DMA | -7.1% | 11.2% |
| 3M | 1YR | |
| Volatility | 77.8% | 91.9% |
| Downside Capture | 130.99 | 238.27 |
| Upside Capture | -19.11 | 207.46 |
| Correlation (S&P 500) | 40.0% | 32.7% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.88 | 1.96 | 1.63 | 1.15 | 1.96 | 1.50 |
| Up Beta | -6.30 | -0.69 | 3.62 | -0.56 | 1.30 | 1.39 |
| Down Beta | 6.10 | 3.37 | 3.05 | 2.08 | 1.46 | 1.17 |
| Up Capture | 243% | 211% | 85% | 174% | 379% | 259% |
| Bmk +ve Days | 12 | 18 | 28 | 62 | 130 | 427 |
| Stock +ve Days | 13 | 20 | 30 | 61 | 119 | 347 |
| Down Capture | -65% | 177% | 55% | 91% | 164% | 112% |
| Bmk -ve Days | 10 | 25 | 36 | 64 | 121 | 325 |
| Stock -ve Days | 9 | 22 | 32 | 63 | 127 | 389 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ZIP | |
|---|---|---|---|---|
| ZIP | -7.6% | 91.9% | 0.32 | - |
| Sector ETF (XLC) | -6.8% | 16.6% | -0.61 | 28.6% |
| Equity (SPY) | 9.5% | 13.6% | 0.40 | 32.7% |
| Gold (GLD) | 1.6% | 28.7% | 0.05 | 4.2% |
| Commodities (DBC) | 38.4% | 21.2% | 1.42 | 0.1% |
| Real Estate (VNQ) | 11.3% | 14.2% | 0.51 | 13.7% |
| Bitcoin (BTCUSD) | -27.2% | 43.6% | -0.61 | 19.7% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ZIP | |
|---|---|---|---|---|
| ZIP | -33.0% | 65.1% | -0.35 | - |
| Sector ETF (XLC) | 6.5% | 21.1% | 0.22 | 40.0% |
| Equity (SPY) | 11.3% | 17.3% | 0.48 | 42.3% |
| Gold (GLD) | 17.5% | 19.1% | 0.74 | 2.9% |
| Commodities (DBC) | 8.1% | 19.6% | 0.30 | 7.8% |
| Real Estate (VNQ) | 1.3% | 18.9% | -0.04 | 30.6% |
| Bitcoin (BTCUSD) | 4.0% | 51.6% | 0.26 | 25.9% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ZIP | |
|---|---|---|---|---|
| ZIP | -15.9% | 64.4% | -0.23 | - |
| Sector ETF (XLC) | 8.5% | 22.1% | 0.42 | 39.4% |
| Equity (SPY) | 15.0% | 18.0% | 0.70 | 41.6% |
| Gold (GLD) | 11.9% | 16.5% | 0.59 | 2.9% |
| Commodities (DBC) | 7.5% | 18.1% | 0.33 | 8.6% |
| Real Estate (VNQ) | 5.9% | 20.7% | 0.24 | 29.9% |
| Bitcoin (BTCUSD) | 60.0% | 66.3% | 1.00 | 24.7% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 11/2/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/5/2026 | 10.1% | 15.8% | -1.4% |
| 5/7/2026 | 16.8% | 16.8% | 3.5% |
| 2/25/2026 | -23.5% | -16.3% | -27.1% |
| 11/5/2025 | 4.9% | 17.0% | 31.2% |
| 8/11/2025 | 10.9% | 26.7% | 35.9% |
| 5/8/2025 | -23.6% | -7.0% | 11.6% |
| 2/25/2025 | -15.9% | -13.5% | -8.8% |
| 11/6/2024 | 11.8% | 1.7% | -17.9% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 12 | 12 | 10 |
| # Negative | 10 | 10 | 12 |
| Median Positive | 11.6% | 13.3% | 19.8% |
| Median Negative | -10.8% | -13.0% | -12.2% |
| Max Positive | 16.8% | 26.7% | 68.1% |
| Max Negative | -23.6% | -26.6% | -36.4% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/5/2026 | 10.1% | 15.8% | -1.4% |
| 5/7/2026 | 16.8% | 16.8% | 3.5% |
| 2/25/2026 | -23.5% | -16.3% | -27.1% |
| 11/5/2025 | 4.9% | 17.0% | 31.2% |
| 8/11/2025 | 10.9% | 26.7% | 35.9% |
| 5/8/2025 | -23.6% | -7.0% | 11.6% |
| 2/25/2025 | -15.9% | -13.5% | -8.8% |
| 11/6/2024 | 11.8% | 1.7% | -17.9% |
| 8/7/2024 | 13.7% | 12.1% | 25.7% |
| 5/9/2024 | -11.3% | -8.3% | -12.5% |
| 2/22/2024 | -6.0% | -7.8% | -14.2% |
| 11/8/2023 | 0.3% | 8.9% | 18.2% |
| 8/8/2023 | -10.3% | -6.2% | -14.3% |
| 5/9/2023 | -3.2% | -12.5% | -5.4% |
| 2/21/2023 | -22.6% | -26.6% | -36.4% |
| 11/9/2022 | 16.4% | 13.4% | 10.7% |
| 8/15/2022 | -5.4% | -22.4% | -8.8% |
| 5/11/2022 | 14.5% | 13.2% | 3.5% |
| 3/1/2022 | 11.5% | 2.1% | 21.4% |
| 11/10/2021 | 12.8% | 19.2% | -0.5% |
| 8/12/2021 | -0.5% | -18.0% | -11.9% |
| 5/17/2021 | 0.0% | 0.0% | 68.1% |
| SUMMARY STATS | |||
| # Positive | 12 | 12 | 10 |
| # Negative | 10 | 10 | 12 |
| Median Positive | 11.6% | 13.3% | 19.8% |
| Median Negative | -10.8% | -13.0% | -12.2% |
| Max Positive | 16.8% | 26.7% | 68.1% |
| Max Negative | -23.6% | -26.6% | -36.4% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/05/2026 | 10-Q |
| 03/31/2026 | 05/07/2026 | 10-Q |
| 12/31/2025 | 02/25/2026 | 10-K |
| 09/30/2025 | 11/05/2025 | 10-Q |
| 06/30/2025 | 08/11/2025 | 10-Q |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 02/25/2025 | 10-K |
| 09/30/2024 | 11/06/2024 | 10-Q |
| 06/30/2024 | 08/07/2024 | 10-Q |
| 03/31/2024 | 05/09/2024 | 10-Q |
| 12/31/2023 | 02/28/2024 | 10-K |
| 09/30/2023 | 11/08/2023 | 10-Q |
| 06/30/2023 | 08/08/2023 | 10-Q |
| 03/31/2023 | 05/09/2023 | 10-Q |
| 12/31/2022 | 02/27/2023 | 10-K |
| 09/30/2022 | 11/09/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/05/2026 | 10-Q |
| 03/31/2026 | 05/07/2026 | 10-Q |
| 12/31/2025 | 02/25/2026 | 10-K |
| 09/30/2025 | 11/05/2025 | 10-Q |
| 06/30/2025 | 08/11/2025 | 10-Q |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 02/25/2025 | 10-K |
| 09/30/2024 | 11/06/2024 | 10-Q |
| 06/30/2024 | 08/07/2024 | 10-Q |
| 03/31/2024 | 05/09/2024 | 10-Q |
| 12/31/2023 | 02/28/2024 | 10-K |
| 09/30/2023 | 11/08/2023 | 10-Q |
| 06/30/2023 | 08/08/2023 | 10-Q |
| 03/31/2023 | 05/09/2023 | 10-Q |
| 12/31/2022 | 02/27/2023 | 10-K |
| 09/30/2022 | 11/09/2022 | 10-Q |
| 06/30/2022 | 08/15/2022 | 10-Q |
| 03/31/2022 | 05/13/2022 | 10-Q |
| 12/31/2021 | 03/03/2022 | 10-K |
| 09/30/2021 | 11/12/2021 | 10-Q |
| 06/30/2021 | 08/13/2021 | 10-Q |
| 03/31/2021 | 05/26/2021 | 424B4 |
Insider Activity
Updated 11/6/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Shimanovsky, Boris F | EVP, Chief Technology Officer | Direct | Sell | 11062026 | 4.70 | 30,000 | 140,877 | 1,920,506 | Form |
| 2 | Sakamoto, Ryan T | EVP, Chief Legal Officer | Direct | Sell | 10272026 | 4.54 | 2,978 | 13,505 | 560,975 | Form |
| 3 | Garefis, Amy | EVP, Chief People Officer | Direct | Sell | 10212026 | 4.56 | 7,879 | 35,950 | 924,969 | Form |
| 4 | Siegel, Ian H | CHIEF EXECUTIVE OFFICER | Direct | Sell | 10052026 | 3.59 | 9,722 | 34,921 | 611,664 | Form |
| 5 | Siegel, Ian H | CHIEF EXECUTIVE OFFICER | Direct | Sell | 10052026 | 3.55 | 9,722 | 34,474 | 638,305 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Shimanovsky, Boris F | EVP, Chief Technology Officer | Direct | Sell | 11062026 | 4.70 | 30,000 | 140,877 | 1,920,506 | Form |
| 2 | Sakamoto, Ryan T | EVP, Chief Legal Officer | Direct | Sell | 10272026 | 4.54 | 2,978 | 13,505 | 560,975 | Form |
| 3 | Garefis, Amy | EVP, Chief People Officer | Direct | Sell | 10212026 | 4.56 | 7,879 | 35,950 | 924,969 | Form |
| 4 | Siegel, Ian H | CHIEF EXECUTIVE OFFICER | Direct | Sell | 10052026 | 3.59 | 9,722 | 34,921 | 611,664 | Form |
| 5 | Siegel, Ian H | CHIEF EXECUTIVE OFFICER | Direct | Sell | 10052026 | 3.55 | 9,722 | 34,474 | 638,305 | Form |
| 6 | Siegel, Ian H | CHIEF EXECUTIVE OFFICER | Direct | Sell | 10052026 | 3.48 | 9,722 | 33,880 | 661,187 | Form |
| 7 | Sakamoto, Ryan T | EVP, Chief Legal Officer | Direct | Sell | 9282026 | 3.49 | 2,978 | 10,395 | 442,191 | Form |
| 8 | Siegel, Ian H | CHIEF EXECUTIVE OFFICER | Direct | Sell | 9222026 | 3.74 | 9,722 | 36,374 | 746,226 | Form |
| 9 | Garefis, Amy | EVP, Chief People Officer | Direct | Sell | 9222026 | 3.80 | 7,837 | 29,773 | 800,081 | Form |
| 10 | Siegel, Ian H | CHIEF EXECUTIVE OFFICER | Direct | Sell | 9222026 | 3.80 | 9,722 | 36,962 | 795,255 | Form |
| 11 | Travers, David | President | Direct | Sell | 9222026 | 3.66 | 24,705 | 90,524 | 4,588,381 | Form |
| 12 | Siegel, Ian H | CHIEF EXECUTIVE OFFICER | Direct | Sell | 9222026 | 3.67 | 34,978 | 128,390 | 803,476 | Form |
| 13 | Sakamoto, Ryan T | EVP, Chief Legal Officer | Direct | Sell | 8262026 | 4.39 | 2,978 | 13,075 | 522,961 | Form |
| 14 | Garefis, Amy | EVP, Chief People Officer | Direct | Sell | 8212026 | 5.15 | 7,819 | 40,291 | 1,067,228 | Form |
| 15 | Siegel, Ian H | CHIEF EXECUTIVE OFFICER | Direct | Sell | 8062026 | 4.55 | 9,722 | 44,255 | 139,505 | Form |
| 16 | Siegel, Ian H | CHIEF EXECUTIVE OFFICER | Direct | Sell | 8062026 | 4.31 | 9,722 | 41,940 | 174,148 | Form |
| 17 | Siegel, Ian H | CHIEF EXECUTIVE OFFICER | Direct | Sell | 8062026 | 4.42 | 9,722 | 43,001 | 221,558 | Form |
| 18 | Sakamoto, Ryan T | EVP, Chief Legal Officer | Direct | Sell | 7272026 | 3.91 | 3,547 | 13,882 | 477,836 | Form |
| 19 | Garefis, Amy | EVP, Chief People Officer | Direct | Sell | 7212026 | 3.95 | 7,983 | 31,542 | 849,198 | Form |
| 20 | Siegel, Ian H | CHIEF EXECUTIVE OFFICER | Direct | Sell | 7082026 | 3.90 | 9,722 | 37,886 | 233,085 | Form |
| 21 | Siegel, Ian H | CHIEF EXECUTIVE OFFICER | Direct | Sell | 7082026 | 4.00 | 9,722 | 38,903 | 278,244 | Form |
| 22 | Siegel, Ian H | CHIEF EXECUTIVE OFFICER | Direct | Sell | 7082026 | 3.95 | 9,722 | 38,403 | 313,073 | Form |
| 23 | Sakamoto, Ryan T | EVP, Chief Legal Officer | Direct | Sell | 6262026 | 3.86 | 2,978 | 11,499 | 485,110 | Form |
| 24 | Siegel, Ian H | CHIEF EXECUTIVE OFFICER | Direct | Sell | 6232026 | 3.12 | 9,722 | 30,286 | 277,187 | Form |
| 25 | Siegel, Ian H | CHIEF EXECUTIVE OFFICER | Direct | Sell | 6232026 | 3.01 | 9,722 | 29,258 | 297,041 | Form |
| 26 | Siegel, Ian H | CHIEF EXECUTIVE OFFICER | Direct | Sell | 6232026 | 3.00 | 34,978 | 104,937 | 325,280 | Form |
| 27 | Travers, David | President and interim CFO | Direct | Sell | 6232026 | 2.99 | 24,706 | 73,938 | 3,728,195 | Form |
| 28 | Garefis, Amy | EVP, Chief People Officer | Direct | Sell | 6172026 | 3.62 | 9,113 | 33,000 | 807,202 | Form |
| 29 | Sakamoto, Ryan T | EVP, Chief Legal Officer | Direct | Sell | 5282026 | 3.17 | 2,914 | 9,245 | 374,595 | Form |
| 30 | Siegel, Ian H | CHIEF EXECUTIVE OFFICER | Direct | Sell | 5072026 | 3.23 | 9,722 | 31,388 | 358,865 | Form |
| 31 | Siegel, Ian H | CHIEF EXECUTIVE OFFICER | Direct | Sell | 5072026 | 3.06 | 9,722 | 29,794 | 370,430 | Form |
| 32 | Siegel, Ian H | CHIEF EXECUTIVE OFFICER | Direct | Sell | 5072026 | 3.09 | 9,722 | 30,081 | 404,077 | Form |
| 33 | Sakamoto, Ryan T | EVP, Chief Legal Officer | Direct | Sell | 4272026 | 2.91 | 2,978 | 8,665 | 352,033 | Form |
| 34 | Siegel, Ian H | CHIEF EXECUTIVE OFFICER | Direct | Sell | 4072026 | 2.07 | 9,722 | 20,151 | 290,837 | Form |
| 35 | Siegel, Ian H | CHIEF EXECUTIVE OFFICER | Direct | Sell | 4072026 | 27.61 | 17,482 | 482,661 | 4,702,696 | Form |
| 36 | Siegel, Ian H | CHIEF EXECUTIVE OFFICER | Direct | Sell | 4032026 | 1.86 | 9,722 | 18,127 | 350,179 | Form |
| 37 | Siegel, Ian H | CHIEF EXECUTIVE OFFICER | Direct | Sell | 4032026 | 1.90 | 9,722 | 18,485 | 375,595 | Form |
| 38 | Siegel, Ian H | CHIEF EXECUTIVE OFFICER | Direct | Sell | 3202026 | 2.17 | 9,722 | 21,061 | 448,983 | Form |
| 39 | Siegel, Ian H | CHIEF EXECUTIVE OFFICER | Direct | Sell | 3202026 | 2.38 | 9,722 | 23,166 | 517,020 | Form |
| 40 | Garefis, Amy | EVP, Chief People Officer | Direct | Sell | 3202026 | 2.56 | 2,532 | 6,492 | 565,852 | Form |
| 41 | Siegel, Ian H | CHIEF EXECUTIVE OFFICER | Direct | Sell | 3202026 | 2.57 | 34,364 | 88,291 | 582,465 | Form |
| 42 | Sakamoto, Ryan T | EVP, Chief Legal Officer | Direct | Sell | 3202026 | 2.56 | 2,495 | 6,399 | 317,943 | Form |
| 43 | Travers, David | President and interim CFO | Direct | Sell | 3202026 | 2.53 | 23,656 | 59,864 | 3,136,190 | Form |
| 44 | Sakamoto, Ryan T | EVP, Chief Legal Officer | Direct | Sell | 2192026 | 1.93 | 2,978 | 5,748 | 223,181 | Form |
| 45 | Yarbrough, Timothy G | EVP, Chief Financial Officer | See footnote | Sell | 2092026 | 1.97 | 3,034 | 5,981 | 130,779 | Form |
| 46 | Siegel, Ian H | CHIEF EXECUTIVE OFFICER | See footnote | Sell | 2052026 | 1.97 | 9,722 | 19,146 | 66,204 | Form |
| 47 | Siegel, Ian H | CHIEF EXECUTIVE OFFICER | See footnote | Sell | 2052026 | 2.11 | 9,722 | 20,493 | 91,356 | Form |
| 48 | Siegel, Ian H | CHIEF EXECUTIVE OFFICER | See footnote | Sell | 2052026 | 2.25 | 9,722 | 21,827 | 119,129 | Form |
| 49 | Garefis, Amy | EVP, Chief People Officer | Direct | Sell | 1212026 | 2.64 | 2,847 | 7,521 | 558,926 | Form |
| 50 | Shimanovsky, Boris F | EVP, Chief Technology Officer | Direct | Sell | 1212026 | 2.61 | 5,650 | 14,739 | 877,238 | Form |
| 51 | Sakamoto, Ryan T | EVP, Chief Legal Officer | Direct | Sell | 1212026 | 2.62 | 2,169 | 5,673 | 310,181 | Form |
| 52 | Yarbrough, Timothy G | EVP, Chief Financial Officer | See footnote | Sell | 1062026 | 3.69 | 3,035 | 11,202 | 256,064 | Form |
| 53 | Shimanovsky, Boris F | EVP, Chief Technology Officer | Direct | Sell | 12232025 | 4.55 | 3,889 | 17,680 | 1,554,480 | Form |
| 54 | Siegel, Ian H | CHIEF EXECUTIVE OFFICER | See footnote | Sell | 12222025 | 4.55 | 9,722 | 44,201 | 418,087 | Form |
| 55 | Siegel, Ian H | CHIEF EXECUTIVE OFFICER | See footnote | Sell | 12222025 | 4.65 | 9,722 | 45,184 | 472,568 | Form |
| 56 | Siegel, Ian H | CHIEF EXECUTIVE OFFICER | See footnote | Sell | 12222025 | 4.74 | 22,762 | 107,855 | 527,867 | Form |
| 57 | Garefis, Amy | EVP, Chief People Officer | Direct | Sell | 12222025 | 4.74 | 2,532 | 12,005 | 1,016,675 | Form |
| 58 | Travers, David | President | Direct | Sell | 12222025 | 4.75 | 15,878 | 75,373 | 5,456,790 | Form |
| 59 | Sakamoto, Ryan T | EVP, Chief Legal Officer | Direct | Sell | 12172025 | 4.77 | 2,495 | 11,913 | 576,626 | Form |
| 60 | Yarbrough, Timothy G | EVP, Chief Financial Officer | See footnote | Sell | 12082025 | 5.39 | 5,803 | 31,270 | 390,210 | Form |
| 61 | Shimanovsky, Boris F | EVP, Chief Technology Officer | Direct | Sell | 11202025 | 4.00 | 7,330 | 29,346 | 1,305,094 | Form |
| 62 | Sakamoto, Ryan T | EVP, Chief Legal Officer | Direct | Sell | 11202025 | 4.10 | 2,441 | 10,002 | 474,552 | Form |
| 63 | Garefis, Amy | EVP, Chief People Officer | Direct | Sell | 11202025 | 3.99 | 2,847 | 11,357 | 832,741 | Form |
| 64 | Yarbrough, Timothy G | EVP, Chief Financial Officer | See footnote | Sell | 11052025 | 4.05 | 6,069 | 24,609 | 317,162 | Form |
| 65 | Siegel, Ian H | CHIEF EXECUTIVE OFFICER | See footnote | Sell | 11052025 | 4.06 | 9,722 | 39,448 | 1,026,475 | Form |
| 66 | Siegel, Ian H | CHIEF EXECUTIVE OFFICER | See footnote | Sell | 11052025 | 4.10 | 9,722 | 39,879 | 1,077,561 | Form |
| 67 | Siegel, Ian H | CHIEF EXECUTIVE OFFICER | See footnote | Sell | 11052025 | 4.23 | 9,722 | 41,144 | 1,152,881 | Form |
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