Kanzhun (NASDAQ:BZ) Research Coverage Started at CLSA

CLSA started coverage on shares of Kanzhun (NASDAQ:BZ) in a report issued on Monday morning, Marketbeat.com reports. The firm issued an outperform rating and a $18.00 price objective on the stock.

Other analysts have also issued reports about the stock. Daiwa America upgraded shares of Kanzhun to a “hold” rating in a research note on Thursday, July 25th. Daiwa Capital Markets lowered shares of Kanzhun from a “buy” rating to a “neutral” rating in a research note on Thursday, July 25th. Finally, Barclays cut their target price on shares of Kanzhun from $27.00 to $14.00 and set an “overweight” rating on the stock in a research note on Friday, August 30th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.50.

Kanzhun Trading Down 1.1 %

BZ opened at $13.44 on Monday. Kanzhun has a 12-month low of $10.57 and a 12-month high of $22.74. The firm has a market capitalization of $5.10 billion, a PE ratio of 31.60 and a beta of 0.55. The firm has a 50 day moving average of $14.98 and a two-hundred day moving average of $16.57.

Kanzhun (NASDAQ:BZ) last posted its earnings results on Wednesday, August 28th. The company reported $0.13 earnings per share for the quarter, beating 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 net margin of 20.90% and a return on equity of 10.19%. As a group, analysts predict that Kanzhun will post 0.47 EPS for the current fiscal year.

Institutional Investors Weigh In On Kanzhun

Several hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC boosted its position in Kanzhun by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,822,128 shares of the company’s stock valued at $31,404,000 after purchasing an additional 58,065 shares during the period. ABS Direct Equity Fund LLC lifted its position in shares of Kanzhun by 84.5% in the third quarter. ABS Direct Equity Fund LLC now owns 104,172 shares of the company’s stock worth $1,808,000 after buying an additional 47,700 shares during the last quarter. M&T Bank Corp increased its stake in shares of Kanzhun by 25.8% in the third quarter. M&T Bank Corp now owns 110,783 shares of the company’s stock worth $1,923,000 after purchasing an additional 22,706 shares during the period. Barclays PLC increased its stake in shares of Kanzhun by 58.7% in the third quarter. Barclays PLC now owns 450,663 shares of the company’s stock worth $7,824,000 after purchasing an additional 166,683 shares during the period. Finally, Public Employees Retirement System of Ohio bought a new position in Kanzhun during the third quarter valued at about $1,430,000. 60.67% of the stock is currently owned by hedge funds and other institutional investors.

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.