Barclays Issues Positive Forecast for Kanzhun (NASDAQ:BZ) Stock Price

Kanzhun (NASDAQ:BZ) had its price target lifted by Barclays from $14.00 to $16.00 in a research note issued to investors on Monday,Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities research analysts have also weighed in on the company. Sanford C. Bernstein lowered Kanzhun from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $19.00 to $15.00 in a research note on Monday. Citigroup lowered their price objective on Kanzhun from $17.00 to $16.00 and set a “buy” rating for the company in a research report on Friday, November 29th. Finally, CLSA started coverage on shares of Kanzhun in a report on Monday, November 18th. They issued an “outperform” rating and a $18.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $21.00.

Kanzhun Trading Up 10.2 %

Shares of Kanzhun stock opened at $15.34 on Monday. The business’s 50-day moving average price is $14.90 and its 200-day moving average price is $15.79. The firm has a market capitalization of $5.82 billion, a PE ratio of 35.68 and a beta of 0.50. Kanzhun has a 12 month low of $10.57 and a 12 month high of $22.74.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in BZ. California State Teachers Retirement System increased its stake in Kanzhun by 80.5% during the 1st quarter. California State Teachers Retirement System now owns 62,681 shares of the company’s stock valued at $1,099,000 after purchasing an additional 27,954 shares in the last quarter. Deltec Asset Management LLC purchased a new position in Kanzhun in the 2nd quarter worth approximately $934,000. Blue Trust Inc. lifted its position in Kanzhun by 21.4% in the 2nd quarter. Blue Trust Inc. now owns 7,638 shares of the company’s stock valued at $134,000 after acquiring an additional 1,347 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Kanzhun by 12.3% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 584,510 shares of the company’s stock valued at $10,995,000 after purchasing an additional 63,843 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its holdings in shares of Kanzhun by 78.5% in the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 116,000 shares of the company’s stock worth $2,182,000 after purchasing an additional 51,000 shares in 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.