Kanzhun Limited (NASDAQ:BZ) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Kanzhun Limited (NASDAQ:BZ) have been assigned a consensus rating of “Moderate Buy” from the nine research firms that are currently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $23.71.

Several equities analysts recently weighed in on the company. Daiwa Capital Markets downgraded Kanzhun from a “buy” rating to a “neutral” rating in a research report on Thursday, July 25th. JPMorgan Chase & Co. boosted their price objective on Kanzhun from $23.00 to $24.50 and gave the company an “overweight” rating in a research note on Wednesday, May 22nd. Daiwa America upgraded shares of Kanzhun to a “hold” rating in a research note on Thursday, July 25th. 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. Finally, UBS Group lifted their target price on shares of Kanzhun from $22.00 to $23.50 and gave the company a “neutral” rating in a research note on Wednesday, May 22nd.

Kanzhun Price Performance

Shares of BZ opened at $13.40 on Monday. Kanzhun has a one year low of $12.57 and a one year high of $22.74. The business has a fifty day moving average of $18.49 and a 200 day moving average of $17.96. The firm has a market capitalization of $5.10 billion, a P/E ratio of 34.36 and a beta of 0.48.

Kanzhun (NASDAQ:BZ) last issued its quarterly earnings data on Tuesday, May 21st. The company reported $0.07 earnings per share for the quarter, topping 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 firm had revenue of $235.97 million for the quarter, compared to analysts’ expectations of $230.09 million. Analysts expect that Kanzhun will post 0.5 EPS for the current fiscal year.

Hedge Funds Weigh In On Kanzhun

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Kanzhun in the 4th quarter worth $98,023,000. RWC Asset Advisors US LLC increased its stake in 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 acquiring an additional 2,529,725 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in Kanzhun by 308.2% during the first quarter. Assenagon Asset Management S.A. now owns 2,765,211 shares of the company’s stock worth $48,474,000 after acquiring an additional 2,087,745 shares during the last quarter. GGV Capital LLC raised its position in Kanzhun by 350.8% during the first quarter. GGV Capital LLC now owns 2,366,764 shares of the company’s stock valued at $41,489,000 after purchasing an additional 1,841,764 shares during the period. Finally, Thornburg Investment Management Inc. bought a new stake in shares of Kanzhun in the 1st quarter valued at approximately $25,967,000. 60.67% of the stock is owned by 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.