Kanzhun (NASDAQ:BZ) Stock Price Down 4.4%

Kanzhun Limited (NASDAQ:BZ)’s stock price was down 4.4% during trading on Wednesday . The stock traded as low as $14.36 and last traded at $14.52. Approximately 998,969 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 3,904,094 shares. The stock had previously closed at $15.19.

Analyst Upgrades and Downgrades

Several analysts have issued reports on BZ shares. Barclays lowered their price objective 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. Daiwa Capital Markets lowered shares of Kanzhun from a “buy” rating to a “neutral” rating in a report on Thursday, July 25th. Finally, Daiwa America upgraded Kanzhun to a “hold” rating in a research note on Thursday, July 25th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $23.40.

Kanzhun Stock Performance

The firm has a market capitalization of $6.13 billion, a P/E ratio of 41.33 and a beta of 0.47. The business has a fifty day moving average of $13.48 and a 200-day moving average of $17.51.

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Atlas Capital Advisors LLC purchased a new position in shares of Kanzhun in the second quarter worth approximately $25,000. Blue Trust Inc. raised its stake in Kanzhun by 21.4% during the 2nd 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. DekaBank Deutsche Girozentrale lifted its holdings in shares of Kanzhun by 6.6% in the first quarter. DekaBank Deutsche Girozentrale now owns 32,066 shares of the company’s stock valued at $565,000 after purchasing an additional 1,977 shares in the last quarter. Summit Securities Group LLC acquired a new stake in shares of Kanzhun in the second quarter worth $44,000. Finally, DNB Asset Management AS raised its position in Kanzhun by 21.7% during the second quarter. DNB Asset Management AS now owns 17,544 shares of the company’s stock valued at $330,000 after buying an additional 3,123 shares during the period. Institutional investors own 60.67% of the company’s stock.

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.