Kanzhun (NASDAQ:BZ) Shares Gap Down to $19.51

Shares of Kanzhun Limited (NASDAQ:BZ) gapped down before the market opened on Thursday . The stock had previously closed at $19.51, but opened at $19.06. Kanzhun shares last traded at $18.98, with a volume of 105,614 shares.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. HSBC assumed coverage on Kanzhun in a research report on Friday, May 24th. They set a “buy” rating and a $30.00 target price for the company. JPMorgan Chase & Co. lifted their target price on Kanzhun from $23.00 to $24.50 and gave the company an “overweight” rating in a research report on Wednesday, May 22nd. UBS Group lifted their target price on Kanzhun from $22.00 to $23.50 and gave the company a “neutral” rating in a research report on Wednesday, May 22nd. TheStreet raised Kanzhun from a “d+” rating to a “c-” rating in a research report on Wednesday, March 13th. Finally, Macquarie raised Kanzhun from a “neutral” rating to an “outperform” rating in a research report on Tuesday, March 12th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $22.67.

Kanzhun Stock Performance

The company has a 50 day moving average of $20.59 and a two-hundred day moving average of $17.77. The stock has a market capitalization of $7.09 billion, a PE ratio of 48.23 and a beta of 0.53.

Kanzhun (NASDAQ:BZ) last announced its earnings results on Tuesday, May 21st. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.03. Kanzhun had a return on equity of 9.73% and a net margin of 20.55%. The firm had revenue of $235.97 million for the quarter, compared to the consensus estimate of $230.09 million. As a group, research analysts predict that Kanzhun Limited will post 0.52 EPS for the current fiscal year.

Institutional Trading of Kanzhun

Large investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. grew its stake in Kanzhun by 32.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 3,670 shares of the company’s stock valued at $56,000 after purchasing an additional 890 shares during the last quarter. Schwab Charitable Fund purchased a new stake in Kanzhun during the 4th quarter valued at about $182,000. DNB Asset Management AS purchased a new stake in Kanzhun during the 4th quarter valued at about $207,000. Quadrature Capital Ltd purchased a new stake in Kanzhun during the 4th quarter valued at about $348,000. Finally, Daiwa Securities Group Inc. grew its stake in Kanzhun by 16.9% during the 4th quarter. Daiwa Securities Group Inc. now owns 23,973 shares of the company’s stock valued at $398,000 after purchasing an additional 3,470 shares during the last quarter. Hedge funds and other institutional investors own 60.67% of the company’s stock.

About Kanzhun

Kanzhun Limited, together with its subsidiaries, provides online recruitment services in the People's Republic of China. The company offers its recruitment services through a mobile app under the BOSS Zhipin brand name. Its services allow enterprise customers to access and interact with job seekers and manage their recruitment process.