Citigroup Issues Pessimistic Forecast for Kanzhun (NASDAQ:BZ) Stock Price

Kanzhun (NASDAQ:BZ) had its price objective reduced by Citigroup from $17.00 to $16.00 in a report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price objective indicates a potential upside of 18.52% from the company’s current price.

A number of other research firms also recently commented on BZ. CLSA started coverage on Kanzhun in a report on Monday, November 18th. They set an “outperform” rating and a $18.00 target price on the stock. Barclays dropped their price target on Kanzhun from $27.00 to $14.00 and set an “overweight” rating on the stock in a research report on Friday, August 30th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $21.57.

Kanzhun Trading Up 7.3 %

NASDAQ:BZ opened at $13.50 on Friday. The firm has a 50-day moving average price of $15.06 and a two-hundred day moving average price of $16.17. The company has a market capitalization of $5.12 billion, a P/E ratio of 31.40 and a beta of 0.55. Kanzhun has a twelve month low of $10.57 and a twelve month high of $22.74.

Kanzhun (NASDAQ:BZ) last released its earnings results on Wednesday, August 28th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.12 by $0.01. Kanzhun had a return on equity of 10.19% and a net margin of 20.90%. The company had revenue of $263.75 million during the quarter, compared to analysts’ expectations of $264.38 million. On average, equities research analysts predict that Kanzhun will post 0.47 earnings per share for the current year.

Institutional Trading of Kanzhun

A number of hedge funds and other institutional investors have recently modified their holdings of BZ. Franklin Resources Inc. boosted its position in shares of Kanzhun by 12.8% during the 3rd quarter. Franklin Resources Inc. now owns 136,728 shares of the company’s stock valued at $2,201,000 after purchasing an additional 15,497 shares in the last quarter. Tidal Investments LLC bought a new stake in Kanzhun during the third quarter worth approximately $662,000. Geode Capital Management LLC boosted its holdings in Kanzhun by 3.3% during the third quarter. Geode Capital Management LLC now owns 1,822,128 shares of the company’s stock worth $31,404,000 after buying an additional 58,065 shares in the last quarter. ABS Direct Equity Fund LLC grew its position in Kanzhun by 84.5% in the third quarter. ABS Direct Equity Fund LLC now owns 104,172 shares of the company’s stock worth $1,808,000 after buying an additional 47,700 shares during the last quarter. Finally, M&T Bank Corp increased its holdings in shares of Kanzhun by 25.8% in the third quarter. M&T Bank Corp now owns 110,783 shares of the company’s stock valued at $1,923,000 after buying an additional 22,706 shares in the last quarter. 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.