Kanzhun (NASDAQ:BZ) Lowered to “Neutral” at Daiwa Capital Markets

Kanzhun (NASDAQ:BZ) was downgraded by equities researchers at Daiwa Capital Markets from a “buy” rating to a “neutral” rating in a report issued on Thursday, Briefing.com reports.

Other equities research analysts have also recently issued research reports about the stock. HSBC began coverage on shares of Kanzhun in a research report on Friday, May 24th. They issued a “buy” rating and a $30.00 price target for the company. UBS Group upped their price target on shares of Kanzhun from $22.00 to $23.50 and gave the stock a “neutral” rating in a research report on Wednesday, May 22nd. Finally, JPMorgan Chase & Co. upped their price target on shares of Kanzhun from $23.00 to $24.50 and gave the stock an “overweight” rating in a research report on Wednesday, May 22nd. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $23.71.

Kanzhun Price Performance

Kanzhun stock opened at $14.08 on Thursday. The stock has a market cap of $5.36 billion, a price-to-earnings ratio of 36.10 and a beta of 0.49. Kanzhun has a 1 year low of $12.57 and a 1 year high of $22.74. The firm has a 50-day moving average of $19.67 and a two-hundred day moving average of $17.99.

Kanzhun (NASDAQ:BZ) last released its quarterly earnings data on Tuesday, May 21st. The company reported $0.07 earnings per share (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 during the quarter, compared to analysts’ expectations of $230.09 million. Research analysts expect that Kanzhun will post 0.52 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BZ. Vanguard Group Inc. increased its stake in Kanzhun by 1.7% during the 3rd quarter. Vanguard Group Inc. now owns 12,615,432 shares of the company’s stock valued at $191,376,000 after purchasing an additional 216,558 shares in the last quarter. GAM Holding AG acquired a new position in Kanzhun during the 4th quarter valued at approximately $2,326,000. Schwab Charitable Fund acquired a new position in Kanzhun during the 4th quarter valued at approximately $182,000. Asset Management One Co. Ltd. increased its stake in Kanzhun by 62.0% during the 4th quarter. Asset Management One Co. Ltd. now owns 50,885 shares of the company’s stock valued at $830,000 after purchasing an additional 19,483 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Kanzhun by 20.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 178,796 shares of the company’s stock worth $2,970,000 after acquiring an additional 29,744 shares during the period. Institutional investors and hedge funds own 60.67% of the company’s stock.

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.