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

Kanzhun Limited (NASDAQ:BZ)’s stock price 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 changing hands.

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

Institutional Trading of Kanzhun

Hedge funds have recently made changes to their positions in the company. Atlas Capital Advisors LLC acquired a new position in Kanzhun during the second quarter worth $25,000. Summit Securities Group LLC acquired a new position in shares of Kanzhun in the second quarter valued at approximately $44,000. UMB Bank n.a. acquired a new stake in Kanzhun during the third quarter worth approximately $42,000. Van ECK Associates Corp purchased a new position in shares of Kanzhun during the 3rd quarter worth $61,000. Finally, Blue Trust Inc. grew its position in shares of Kanzhun by 21.4% in 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 during the period. Institutional investors and hedge funds own 60.67% of the company’s stock.

Kanzhun Stock Down 8.0 %

The stock has a market capitalization of $5.35 billion, a price-to-earnings ratio of 32.81 and a beta of 0.50. The company has a 50 day moving average of $14.82 and a 200 day moving average of $15.74.

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.