Citigroup Cuts Kanzhun (NASDAQ:BZ) Price Target to $16.00

Kanzhun (NASDAQ:BZ) had its price target decreased by Citigroup from $17.00 to $16.00 in a research report released on Friday,Benzinga reports. Citigroup currently has a buy rating on the stock.

Other research analysts have also issued reports about the stock. Barclays dropped their price objective 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. CLSA started coverage on Kanzhun in a research report on Monday, November 18th. They issued an “outperform” rating and a $18.00 price target on the stock. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Kanzhun has a consensus rating of “Moderate Buy” and a consensus price target of $21.57.

Kanzhun Price Performance

Shares of BZ opened at $13.50 on Friday. The firm has a fifty day moving average price of $15.06 and a 200 day moving average price of $16.13. The stock has a market cap of $5.12 billion, a PE ratio of 31.40 and a beta of 0.55. Kanzhun has a 1-year low of $10.57 and a 1-year high of $22.74.

Institutional Investors Weigh In On Kanzhun

Large investors have recently added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Kanzhun by 812.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,120,232 shares of the company’s stock worth $123,607,000 after buying an additional 6,339,911 shares in the last quarter. RWC Asset Advisors US LLC boosted its holdings in shares of Kanzhun by 79.8% during the second quarter. RWC Asset Advisors US LLC now owns 5,700,186 shares of the company’s stock worth $107,220,000 after purchasing an additional 2,529,725 shares during the last quarter. Federated Hermes Inc. increased its stake in Kanzhun by 10.4% in the second quarter. Federated Hermes Inc. now owns 5,368,870 shares of the company’s stock valued at $100,988,000 after purchasing an additional 507,337 shares during the last quarter. State Street Corp lifted its position in Kanzhun by 2.8% during the third quarter. State Street Corp now owns 5,084,631 shares of the company’s stock worth $88,269,000 after buying an additional 138,804 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new stake in Kanzhun in the 3rd quarter worth about $64,220,000. 60.67% of the stock is owned by institutional investors and hedge funds.

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.