By Sam Boughedda
Investong.com — Shares of Recruiter.Com Group Inc (NASDAQ: RCRT ) are up 21% to $4.55 Thursday on heavy volume after Maxim (NASDAQ: MXIM ) analyst Allen Klee initiated coverage of the stock with a buy rating.
Recruiter.com, which operates an on-demand recruiting platform, has been given a bullish rating by Klee as he is optimistic about the company's full solution for hiring.
"The company layers faster-growing and more profitable software and marketplace solutions to its job search business base," explained Klee.
In a research note, the analyst told investors that Recruiter has a large total addressable market with the demand for recruiters and employees stimulating growth.
"We project high double-digit to triple-digit y/y revenue growth in 2021-2024, improving bottom-line performance, and adjusted EBITDA turning positive in 2023.," the analyst added, also mentioning that the shares are currently trading at a discount valuation.
On Tuesday, Recruiter.com announced a partnership with Deel, a financial technology company.
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