Kanzhun (NASDAQ:BZ) Stock Price Up 7.2% – Time to Buy?

Kanzhun Limited (NASDAQ:BZ)’s stock price was up 7.2% during mid-day trading on Friday . The company traded as high as $13.50 and last traded at $13.48. Approximately 2,104,303 shares traded hands during trading, a decline of 49% from the average daily volume of 4,126,284 shares. The stock had previously closed at $12.58.

Analysts Set New Price Targets

A number of research analysts recently issued reports on BZ shares. CLSA began coverage on Kanzhun in a research note on Monday, November 18th. They set an “outperform” rating and a $18.00 price objective for the company. Citigroup lowered their price target on Kanzhun from $17.00 to $16.00 and set a “buy” rating on the stock in a report on Friday. Finally, Barclays lowered their price target on Kanzhun from $27.00 to $14.00 and set an “overweight” rating on the stock in a report on Friday, August 30th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $21.57.

Kanzhun Stock Performance

The firm has a market capitalization of $5.12 billion, a PE ratio of 31.35 and a beta of 0.55. The company has a fifty day moving average price of $15.05 and a 200-day moving average price of $16.26.

Kanzhun (NASDAQ:BZ) last issued its quarterly earnings data 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. Kanzhun had a return on equity of 10.19% and a net margin of 20.90%. The business had revenue of $263.75 million for the quarter, compared to analysts’ expectations of $264.38 million. On average, equities analysts predict that Kanzhun Limited will post 0.47 earnings per share for the current year.

Institutional Trading of Kanzhun

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Crossmark Global Holdings Inc. raised its holdings in Kanzhun by 5.8% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 13,911 shares of the company’s stock valued at $241,000 after buying an additional 759 shares during the period. Atlas Capital Advisors LLC purchased a new stake in Kanzhun during the 2nd quarter valued at $25,000. Blue Trust Inc. raised its holdings in 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 buying an additional 1,347 shares during the period. DekaBank Deutsche Girozentrale raised its holdings in Kanzhun by 6.6% during the 1st 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 during the 2nd quarter valued at $44,000. Hedge funds and other institutional investors 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.