Brokerages Set Kanzhun Limited (NASDAQ:BZ) PT at $23.40

Shares of Kanzhun Limited (NASDAQ:BZ) have received an average recommendation of “Moderate Buy” from the eight analysts that are covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $23.40.

BZ has been the subject of several recent analyst reports. Barclays reduced their price objective on shares of Kanzhun from $27.00 to $14.00 and set an “overweight” rating for the company in a research note on Friday, August 30th. Daiwa Capital Markets downgraded Kanzhun from a “buy” rating to a “neutral” rating in a research report on Thursday, July 25th. Finally, Daiwa America raised Kanzhun to a “hold” rating in a research report on Thursday, July 25th.

Institutional Trading of Kanzhun

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. acquired a new stake in Kanzhun during the third quarter worth about $64,220,000. RWC Asset Advisors US LLC grew its stake in shares of Kanzhun by 79.8% during the 2nd quarter. RWC Asset Advisors US LLC now owns 5,700,186 shares of the company’s stock worth $107,220,000 after purchasing an additional 2,529,725 shares during the period. GGV Capital LLC increased its holdings in shares of Kanzhun by 350.8% during the 1st quarter. GGV Capital LLC now owns 2,366,764 shares of the company’s stock valued at $41,489,000 after purchasing an additional 1,841,764 shares in the last quarter. WCM Investment Management LLC lifted its stake in shares of Kanzhun by 109.3% in the 3rd quarter. WCM Investment Management LLC now owns 3,157,794 shares of the company’s stock valued at $54,251,000 after purchasing an additional 1,649,411 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its position in Kanzhun by 3,918.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,648,976 shares of the company’s stock valued at $28,626,000 after buying an additional 1,607,941 shares during the period. Institutional investors and hedge funds own 60.67% of the company’s stock.

Kanzhun Trading Down 2.9 %

Shares of NASDAQ BZ opened at $14.89 on Wednesday. The stock has a market capitalization of $5.67 billion, a PE ratio of 34.63 and a beta of 0.55. Kanzhun has a 12-month low of $10.57 and a 12-month high of $22.74. The stock’s fifty day simple moving average is $14.77 and its two-hundred day simple moving average is $16.91.

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

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.