Kanzhun Limited (NASDAQ:BZ) Receives $23.40 Average Price Target from Brokerages

Kanzhun Limited (NASDAQ:BZ) has been given a consensus recommendation of “Moderate Buy” by the eight analysts that are currently covering the company, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $23.40.

Several equities research analysts recently weighed in on the company. Daiwa America raised Kanzhun to a “hold” rating in a research note on Thursday, July 25th. HSBC assumed coverage on shares of Kanzhun in a research report on Friday, May 24th. They issued a “buy” rating and a $30.00 target price on the stock. Barclays lowered their price target on shares of Kanzhun from $27.00 to $14.00 and set an “overweight” rating for the company in a research report on Friday, August 30th. Finally, Daiwa Capital Markets cut shares of Kanzhun from a “buy” rating to a “neutral” rating in a report on Thursday, July 25th.

Hedge Funds Weigh In On Kanzhun

Institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank purchased a new position in Kanzhun during the fourth quarter valued at approximately $98,023,000. UBS Group AG lifted its stake in shares of Kanzhun by 1.7% during the 4th quarter. UBS Group AG now owns 399,061 shares of the company’s stock valued at $6,628,000 after buying an additional 6,747 shares in the last quarter. Hsbc Holdings PLC boosted its holdings in Kanzhun by 338.1% in the 4th quarter. Hsbc Holdings PLC now owns 1,106,067 shares of the company’s stock worth $18,359,000 after buying an additional 853,587 shares during the period. Qtron Investments LLC purchased a new stake in Kanzhun in the 4th quarter worth $692,000. Finally, Crestline Management LP bought a new stake in Kanzhun during the fourth quarter valued at about $8,305,000. 60.67% of the stock is currently owned by hedge funds and other institutional investors.

Kanzhun Trading Up 7.4 %

Shares of Kanzhun stock opened at $12.99 on Tuesday. The company’s fifty day simple moving average is $13.80 and its two-hundred day simple moving average is $17.59. Kanzhun has a 12-month low of $10.57 and a 12-month high of $22.74. The company has a market cap of $4.94 billion, a P/E ratio of 33.31 and a beta of 0.47.

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.