Kanzhun (NASDAQ:BZ) Trading 7% Higher

Kanzhun Limited (NASDAQ:BZ) shares traded up 7% during trading on Friday . The company traded as high as $17.39 and last traded at $17.25. 1,600,713 shares changed hands during trading, a decline of 60% from the average session volume of 4,018,650 shares. The stock had previously closed at $16.12.

Analyst Ratings Changes

Several research firms have weighed in on BZ. Daiwa Capital Markets downgraded Kanzhun from a “buy” rating to a “neutral” rating in a research note on Thursday, July 25th. Daiwa America upgraded Kanzhun to a “hold” rating in a research report on Thursday, July 25th. Finally, Barclays reduced their price target on shares of Kanzhun from $27.00 to $14.00 and set an “overweight” rating for the company in a research report on Friday, August 30th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $23.40.

Kanzhun Price Performance

The firm has a fifty day moving average of $13.51 and a 200 day moving average of $17.50. The stock has a market capitalization of $6.54 billion, a price-to-earnings ratio of 44.05 and a beta of 0.47.

Kanzhun (NASDAQ:BZ) last issued its quarterly earnings data on Wednesday, August 28th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.01. Kanzhun had a net margin of 20.90% and a return on equity of 10.19%. The business had revenue of $263.75 million for the quarter, compared to analysts’ expectations of $264.38 million. Research analysts predict that Kanzhun Limited will post 0.47 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Atlas Capital Advisors LLC acquired a new position in shares of Kanzhun during the 2nd quarter worth approximately $25,000. Summit Securities Group LLC acquired a new position in Kanzhun during the second quarter worth $44,000. Blue Trust Inc. lifted its holdings in Kanzhun by 21.4% during the second quarter. Blue Trust Inc. now owns 7,638 shares of the company’s stock valued at $134,000 after purchasing an additional 1,347 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd acquired a new stake in shares of Kanzhun in the second quarter valued at about $204,000. Finally, SIH Partners LLLP purchased a new stake in shares of Kanzhun during the second quarter worth about $282,000. Hedge funds and other institutional investors own 60.67% of the company’s stock.

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.