Kanzhun (NASDAQ:BZ) Shares Gap Down – Should You Sell?

Kanzhun Limited (NASDAQ:BZ)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $20.56, but opened at $19.59. Kanzhun shares last traded at $20.29, with a volume of 870,135 shares trading hands.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Sanford C. Bernstein restated a “market perform” rating and set a $18.00 price target on shares of Kanzhun in a research note on Wednesday, March 12th. Citigroup cut their price target on shares of Kanzhun from $17.00 to $16.00 and set a “buy” rating on the stock in a research note on Friday, November 29th. Finally, Barclays upped their price target on shares of Kanzhun from $16.00 to $22.00 and gave the company an “overweight” rating in a research note on Thursday, March 13th. Four 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, Kanzhun has a consensus rating of “Moderate Buy” and a consensus price target of $21.71.

Kanzhun Price Performance

The stock’s fifty day moving average is $15.89 and its 200-day moving average is $14.84. The stock has a market capitalization of $7.77 billion, a PE ratio of 45.25 and a beta of 0.46.

Institutional Investors Weigh In On Kanzhun

A number of hedge funds have recently modified their holdings of the business. Nomura Asset Management Co. Ltd. boosted its stake in Kanzhun by 7,012.9% during the third quarter. Nomura Asset Management Co. Ltd. now owns 2,325,929 shares of the company’s stock worth $40,378,000 after buying an additional 2,293,229 shares during the period. Barclays PLC boosted its stake in Kanzhun by 58.7% during the third quarter. Barclays PLC now owns 450,663 shares of the company’s stock worth $7,824,000 after buying an additional 166,683 shares during the period. Monolith Management Ltd purchased a new position in Kanzhun during the third quarter worth about $4,340,000. Union Bancaire Privee UBP SA purchased a new position in Kanzhun during the fourth quarter worth about $333,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in Kanzhun by 112.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 200,710 shares of the company’s stock worth $2,769,000 after buying an additional 106,226 shares during the period. 60.67% of the stock is currently owned by institutional investors and hedge funds.

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.