Kanzhun (NASDAQ:BZ) Stock Price Down 3.3% – Time to Sell?

Kanzhun Limited (NASDAQ:BZ)’s share price fell 3.3% on Thursday . The company traded as low as $12.91 and last traded at $13.00. 626,080 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 4,078,359 shares. The stock had previously closed at $13.44.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on BZ shares. Daiwa Capital Markets downgraded Kanzhun from a “buy” rating to a “neutral” rating in a research note on Thursday, July 25th. Barclays reduced their price target 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. CLSA started coverage on shares of Kanzhun in a research report on Monday. They issued an “outperform” rating and a $18.00 price objective on the stock. Finally, Daiwa America upgraded shares of 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 six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $22.50.

Kanzhun Stock Down 3.1 %

The company has a market capitalization of $4.94 billion, a PE ratio of 31.26 and a beta of 0.55. The stock’s fifty day moving average price is $15.01 and its two-hundred day moving average price is $16.55.

Kanzhun (NASDAQ:BZ) last announced its earnings results on Wednesday, August 28th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 10.19% and a net margin of 20.90%. On average, equities research analysts forecast that Kanzhun Limited will post 0.47 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in BZ. Crossmark Global Holdings Inc. increased its position in shares of Kanzhun by 5.8% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 13,911 shares of the company’s stock valued at $241,000 after acquiring an additional 759 shares during the period. Atlas Capital Advisors LLC purchased a new stake in Kanzhun in the 2nd quarter worth approximately $25,000. Blue Trust Inc. increased its holdings in shares of 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 in the last quarter. DekaBank Deutsche Girozentrale grew its position in Kanzhun by 6.6% during the first quarter. DekaBank Deutsche Girozentrale now owns 32,066 shares of the company’s stock valued at $565,000 after buying an additional 1,977 shares during the period. Finally, Summit Securities Group LLC purchased a new stake in Kanzhun in the 2nd quarter worth $44,000. Hedge funds and other institutional investors own 60.67% of the company’s stock.

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.