Kanzhun Limited (NASDAQ:BZ) Receives $20.38 Consensus Target Price from Brokerages

Shares of Kanzhun Limited (NASDAQ:BZ) have earned an average rating of “Moderate Buy” from the eight analysts that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $20.38.

BZ has been the topic of a number of recent analyst reports. New Street Research raised shares of Kanzhun from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $17.00 to $25.00 in a research note on Wednesday, March 13th. Barclays raised their target price on Kanzhun from $22.00 to $27.00 and gave the company an “overweight” rating in a report on Wednesday, March 13th. TheStreet raised Kanzhun from a “d+” rating to a “c-” rating in a report on Wednesday, March 13th. Finally, Macquarie raised Kanzhun from a “neutral” rating to an “outperform” rating in a research note on Tuesday, March 12th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Kanzhun in the fourth quarter worth $98,023,000. Assenagon Asset Management S.A. grew its position in shares of Kanzhun by 308.2% in the 1st quarter. Assenagon Asset Management S.A. now owns 2,765,211 shares of the company’s stock valued at $48,474,000 after buying an additional 2,087,745 shares during the last quarter. Matthews International Capital Management LLC increased its stake in shares of Kanzhun by 159.1% in the fourth quarter. Matthews International Capital Management LLC now owns 2,132,656 shares of the company’s stock valued at $35,423,000 after buying an additional 1,309,699 shares during the period. Wellington Management Group LLP raised its position in shares of Kanzhun by 21.8% during the fourth quarter. Wellington Management Group LLP now owns 6,976,129 shares of the company’s stock worth $115,874,000 after acquiring an additional 1,247,997 shares during the last quarter. Finally, IvyRock Asset Management HK Ltd acquired a new position in shares of Kanzhun in the third quarter worth approximately $14,632,000. Institutional investors and hedge funds own 60.67% of the company’s stock.

Kanzhun Stock Performance

Shares of NASDAQ BZ opened at $20.09 on Friday. The stock has a market capitalization of $7.54 billion, a P/E ratio of 60.88 and a beta of 0.59. The stock’s fifty day moving average is $17.89 and its 200 day moving average is $16.19. Kanzhun has a 52 week low of $12.57 and a 52 week high of $21.32.

Kanzhun (NASDAQ:BZ) last announced its quarterly earnings data on Tuesday, March 12th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The firm had revenue of $222.57 million for the quarter, compared to the consensus estimate of $215.66 million. Kanzhun had a net margin of 18.28% and a return on equity of 8.44%. Equities research analysts forecast that Kanzhun will post 0.42 earnings per share for the current year.

About Kanzhun

Kanzhun Limited engages in the provision of online recruitment solutions in the People's Republic of China. The company offers its recruitment solutions through a mobile app under the BOSS Zhipin brand name. Its recruitment platform assists the recruitment process between job seekers and employers for enterprises, and corporations.