Kanzhun (NASDAQ:BZ) Shares Gap Up to $17.18

Kanzhun Limited (NASDAQ:BZ) gapped up prior to trading on Monday . The stock had previously closed at $17.18, but opened at $19.00. Kanzhun shares last traded at $18.73, with a volume of 3,981,491 shares.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Barclays dropped their price target on 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 raised shares of Kanzhun to a “hold” rating in a report 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $23.40.

Kanzhun Stock Performance

The stock’s 50 day moving average price is $13.54 and its 200-day moving average price is $17.44. The company has a market cap of $6.86 billion, a PE ratio of 46.26 and a beta of 0.47.

Kanzhun (NASDAQ:BZ) last posted its quarterly earnings results on Wednesday, August 28th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $264.38 million. On average, analysts anticipate that Kanzhun Limited will post 0.47 EPS for the current year.

Hedge Funds Weigh In On Kanzhun

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Atlas Capital Advisors LLC bought a new stake in Kanzhun in the 2nd quarter worth $25,000. Blue Trust Inc. grew its stake in shares of Kanzhun by 21.4% in the second quarter. Blue Trust Inc. now owns 7,638 shares of the company’s stock worth $134,000 after purchasing an additional 1,347 shares during the last quarter. DekaBank Deutsche Girozentrale grew its stake in shares of Kanzhun by 6.6% in the first quarter. DekaBank Deutsche Girozentrale now owns 32,066 shares of the company’s stock worth $565,000 after purchasing an additional 1,977 shares during the last quarter. Summit Securities Group LLC purchased a new position in Kanzhun during the 2nd quarter valued at about $44,000. Finally, DNB Asset Management AS raised its position in Kanzhun by 21.7% during the 2nd quarter. DNB Asset Management AS now owns 17,544 shares of the company’s stock valued at $330,000 after purchasing an additional 3,123 shares during the last quarter. 60.67% of the stock is currently owned by institutional investors.

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.