Kanzhun (NASDAQ:BZ) Stock Price Down 3.4%

Kanzhun Limited (NASDAQ:BZ)’s stock price was down 3.4% on Friday . The company traded as low as $18.02 and last traded at $18.25. Approximately 117,318 shares changed hands during trading, a decline of 97% from the average daily volume of 3,646,767 shares. The stock had previously closed at $18.89.

Analyst Ratings Changes

BZ has been the subject of a number of research analyst reports. TheStreet upgraded shares of Kanzhun from a “d+” rating to a “c-” rating in a report on Wednesday, March 13th. UBS Group increased their price target on shares of Kanzhun from $22.00 to $23.50 and gave the company a “neutral” rating in a report on Wednesday, May 22nd. JPMorgan Chase & Co. increased their price target on shares of Kanzhun from $23.00 to $24.50 and gave the company an “overweight” rating in a report on Wednesday, May 22nd. New Street Research upgraded shares of Kanzhun from a “neutral” rating to a “buy” rating and raised their target price for the company from $17.00 to $25.00 in a report on Wednesday, March 13th. Finally, Macquarie upgraded shares of Kanzhun from a “neutral” rating to an “outperform” rating in a report on Tuesday, March 12th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $22.67.

Kanzhun Price Performance

The company’s 50-day moving average is $20.57 and its 200-day moving average is $17.85. The firm has a market capitalization of $6.78 billion, a price-to-earnings ratio of 45.69 and a beta of 0.49.

Kanzhun (NASDAQ:BZ) last issued its earnings results on Tuesday, May 21st. The company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $230.09 million. Sell-side analysts anticipate that Kanzhun Limited will post 0.52 earnings per share for the current year.

Hedge Funds Weigh In On Kanzhun

Institutional investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. raised its position in Kanzhun by 32.0% in the third quarter. PNC Financial Services Group Inc. now owns 3,670 shares of the company’s stock valued at $56,000 after purchasing an additional 890 shares during the last quarter. Schwab Charitable Fund purchased a new stake in Kanzhun in the 4th quarter worth approximately $182,000. DNB Asset Management AS bought a new position in Kanzhun during the 4th quarter valued at approximately $207,000. Quadrature Capital Ltd purchased a new position in Kanzhun during the fourth quarter valued at $348,000. Finally, Daiwa Securities Group Inc. lifted its position in shares of Kanzhun by 16.9% in the fourth quarter. Daiwa Securities Group Inc. now owns 23,973 shares of the company’s stock worth $398,000 after buying an additional 3,470 shares in the last quarter. 60.67% of the stock is currently owned by institutional investors and hedge funds.

Kanzhun Company Profile

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.