Kanzhun (NASDAQ:BZ) Stock Price Down 5% – Should You Sell?

Kanzhun Limited (NASDAQ:BZ) dropped 5% during mid-day trading on Wednesday . The company traded as low as $16.35 and last traded at $16.41. Approximately 1,475,896 shares changed hands during mid-day trading, a decline of 65% from the average daily volume of 4,179,891 shares. The stock had previously closed at $17.27.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on BZ shares. Daiwa Capital Markets lowered shares of Kanzhun from a “buy” rating to a “neutral” rating in a research note on Thursday, July 25th. Daiwa America raised shares of Kanzhun to a “hold” rating in a report on Thursday, July 25th. Finally, Barclays dropped their price objective on shares of Kanzhun from $27.00 to $14.00 and set an “overweight” rating on the stock in a research report on Friday, August 30th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $23.40.

Kanzhun Trading Down 3.8 %

The firm has a 50 day moving average price of $14.05 and a 200-day moving average price of $17.42. The firm has a market cap of $6.32 billion, a price-to-earnings ratio of 44.28 and a beta of 0.52.

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

Institutional Investors Weigh In On Kanzhun

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. lifted its holdings in shares of Kanzhun by 21.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 4,978,186 shares of the company’s stock valued at $82,688,000 after acquiring an additional 877,342 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Kanzhun by 31.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 150,279 shares of the company’s stock worth $2,634,000 after buying an additional 35,700 shares during the period. Sei Investments Co. grew its stake in shares of Kanzhun by 25.3% in the first quarter. Sei Investments Co. now owns 700,049 shares of the company’s stock valued at $12,272,000 after buying an additional 141,275 shares in the last quarter. Jennison Associates LLC lifted its position in Kanzhun by 7.5% during the 1st quarter. Jennison Associates LLC now owns 1,177,628 shares of the company’s stock worth $20,644,000 after acquiring an additional 82,287 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp grew its position in Kanzhun by 1.9% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 329,341 shares of the company’s stock valued at $6,028,000 after acquiring an additional 6,203 shares in the last quarter. 60.67% of the stock is currently 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.