Kanzhun Limited (NASDAQ:BZ) Receives $21.00 Average PT from Analysts

Kanzhun Limited (NASDAQ:BZ) has received an average rating of “Moderate Buy” from the eleven analysts that are covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $21.00.

Several equities analysts have recently commented on BZ shares. Sanford C. Bernstein lowered shares of Kanzhun from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $19.00 to $15.00 in a report on Monday, December 9th. Barclays upped their price objective on shares of Kanzhun from $14.00 to $16.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. CLSA initiated coverage on shares of Kanzhun in a report on Monday, November 18th. They set an “outperform” rating and a $18.00 target price on the stock. Finally, Citigroup dropped their price target on shares of Kanzhun from $17.00 to $16.00 and set a “buy” rating for the company in a research note on Friday, November 29th.

Kanzhun Trading Up 3.7 %

Shares of NASDAQ BZ opened at $16.49 on Friday. The company has a 50-day moving average of $14.35 and a 200 day moving average of $14.27. Kanzhun has a 12-month low of $10.57 and a 12-month high of $22.74. The stock has a market cap of $6.28 billion, a PE ratio of 36.65 and a beta of 0.49.

Kanzhun (NASDAQ:BZ) last posted its quarterly earnings results on Wednesday, December 11th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.02. Kanzhun had a net margin of 20.65% and a return on equity of 10.31%. On average, sell-side analysts forecast that Kanzhun will post 0.46 EPS for the current fiscal year.

Institutional Trading of Kanzhun

A number of hedge funds have recently added to or reduced their stakes in BZ. Allspring Global Investments Holdings LLC lifted its position in Kanzhun by 3,918.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,648,976 shares of the company’s stock worth $28,626,000 after acquiring an additional 1,607,941 shares during the period. Assenagon Asset Management S.A. acquired a new stake in shares of Kanzhun in the 3rd quarter valued at approximately $64,220,000. abrdn plc lifted its holdings in shares of Kanzhun by 36.0% in the 3rd quarter. abrdn plc now owns 191,068 shares of the company’s stock valued at $3,344,000 after buying an additional 50,598 shares during the period. Van ECK Associates Corp acquired a new stake in shares of Kanzhun in the 3rd quarter valued at approximately $61,000. Finally, Ground Swell Capital LLC acquired a new stake in shares of Kanzhun in the 3rd quarter valued at approximately $257,000. 60.67% of the stock is owned by institutional investors and hedge funds.

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.