Kanzhun (NASDAQ:BZ) Downgraded by Daiwa Capital Markets

Daiwa Capital Markets downgraded shares of Kanzhun (NASDAQ:BZ) from a buy rating to a neutral rating in a research report report published on Thursday, Marketbeat reports.

Several other brokerages have also commented on BZ. HSBC began coverage on shares of Kanzhun in a research note on Friday, May 24th. They issued a buy rating and a $30.00 price target on the stock. JPMorgan Chase & Co. raised their price target on shares of Kanzhun from $23.00 to $24.50 and gave the company an overweight rating in a research note on Wednesday, May 22nd. Finally, UBS Group raised their price objective on shares of Kanzhun from $22.00 to $23.50 and gave the company a neutral rating in a research note on Wednesday, May 22nd. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $23.71.

Kanzhun Trading Down 0.1 %

Shares of NASDAQ:BZ opened at $13.71 on Thursday. The firm’s 50 day moving average is $19.33 and its two-hundred day moving average is $18.00. Kanzhun has a 52 week low of $12.57 and a 52 week high of $22.74. The firm has a market capitalization of $5.22 billion, a P/E ratio of 35.15 and a beta of 0.49.

Kanzhun (NASDAQ:BZ) last announced its quarterly earnings results on Tuesday, May 21st. The company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.04 by $0.03. Kanzhun had a net margin of 20.55% and a return on equity of 9.73%. The company had revenue of $235.97 million for the quarter, compared to analyst estimates of $230.09 million. Analysts predict that Kanzhun will post 0.5 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Blue Trust Inc. grew its position in 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 buying an additional 1,347 shares during the last quarter. DekaBank Deutsche Girozentrale grew its position in 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 buying an additional 1,977 shares during the last quarter. Summit Securities Group LLC acquired a new position in Kanzhun in the second quarter worth approximately $44,000. DNB Asset Management AS boosted its stake in Kanzhun by 21.7% in the 2nd quarter. DNB Asset Management AS now owns 17,544 shares of the company’s stock worth $330,000 after purchasing an additional 3,123 shares during the period. Finally, Daiwa Securities Group Inc. raised its stake in Kanzhun by 16.9% during the 4th quarter. Daiwa Securities Group Inc. now owns 23,973 shares of the company’s stock valued at $398,000 after purchasing an additional 3,470 shares during the period. Institutional investors and hedge funds own 60.67% of the company’s stock.

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.