Kanzhun (NASDAQ:BZ) Shares Gap Up on Analyst Upgrade

Shares of Kanzhun Limited (NASDAQ:BZGet Free Report) gapped up prior to trading on Monday after Barclays raised their price target on the stock from $14.00 to $16.00. The stock had previously closed at $13.92, but opened at $14.90. Barclays currently has an overweight rating on the stock. Kanzhun shares last traded at $15.63, with a volume of 2,662,552 shares.

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

Check Out Our Latest Stock Report on BZ

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. California State Teachers Retirement System raised its stake in shares of Kanzhun by 80.5% in the first quarter. California State Teachers Retirement System now owns 62,681 shares of the company’s stock worth $1,099,000 after buying an additional 27,954 shares during the period. Deltec Asset Management LLC bought a new position in shares of Kanzhun in the second quarter worth approximately $934,000. Blue Trust Inc. increased its stake in shares of Kanzhun by 21.4% in the second quarter. Blue Trust Inc. now owns 7,638 shares of the company’s stock worth $134,000 after purchasing an additional 1,347 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Kanzhun by 12.3% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 584,510 shares of the company’s stock worth $10,995,000 after purchasing an additional 63,843 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its stake in shares of Kanzhun by 78.5% during the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 116,000 shares of the company’s stock valued at $2,182,000 after buying an additional 51,000 shares in the last quarter. 60.67% of the stock is currently owned by institutional investors.

Kanzhun Stock Performance

The company has a market cap of $5.82 billion, a P/E ratio of 35.68 and a beta of 0.50. The firm’s fifty day moving average is $14.90 and its two-hundred day moving average is $15.79.

Kanzhun Company Profile

(Get Free Report)

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.

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