Kanzhun Limited (NASDAQ:BZ) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Kanzhun Limited (NASDAQ:BZ) have received an average rating of “Moderate Buy” from the nine research firms that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $22.67.

Several analysts have recently weighed in on the company. Macquarie raised Kanzhun from a “neutral” rating to an “outperform” rating in a report on Tuesday, March 12th. HSBC assumed coverage on shares of Kanzhun in a research note on Friday, May 24th. They set a “buy” rating and a $30.00 target price for the company. Barclays upped their price objective on Kanzhun from $22.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, March 13th. JPMorgan Chase & Co. boosted their target price on Kanzhun from $23.00 to $24.50 and gave the company an “overweight” rating in a report on Wednesday, May 22nd. Finally, TheStreet upgraded shares of Kanzhun from a “d+” rating to a “c-” rating in a research report on Wednesday, March 13th.

Institutional Investors Weigh In On Kanzhun

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in Kanzhun by 1.6% during the first quarter. Vanguard Group Inc. now owns 12,875,675 shares of the company’s stock worth $225,711,000 after purchasing an additional 203,594 shares during the period. Brilliance Asset Management Ltd. increased its position in Kanzhun by 1.5% during the 4th quarter. Brilliance Asset Management Ltd. now owns 10,101,933 shares of the company’s stock worth $167,793,000 after purchasing an additional 153,010 shares in the last quarter. Wellington Management Group LLP increased its position in Kanzhun by 21.8% during the 4th quarter. Wellington Management Group LLP now owns 6,976,129 shares of the company’s stock worth $115,874,000 after purchasing an additional 1,247,997 shares in the last quarter. Norges Bank acquired a new position in Kanzhun during the fourth quarter valued at approximately $98,023,000. Finally, Goldman Sachs Group Inc. grew its stake in Kanzhun by 21.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 4,978,186 shares of the company’s stock worth $82,688,000 after buying an additional 877,342 shares during the period. Hedge funds and other institutional investors own 60.67% of the company’s stock.

Kanzhun Stock Performance

NASDAQ BZ opened at $18.89 on Thursday. The firm has a market cap of $7.12 billion, a price-to-earnings ratio of 48.44 and a beta of 0.49. The firm has a 50 day simple moving average of $20.58 and a 200-day simple moving average of $17.84. Kanzhun has a one year low of $12.57 and a one year high of $22.74.

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

Kanzhun Company Profile

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.