Kanzhun Limited (NASDAQ:BZ) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Kanzhun Limited (NASDAQ:BZ) has been assigned a consensus rating of “Moderate Buy” from the eight brokerages that are presently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $23.40.

Several research analysts have recently commented on the company. Daiwa America upgraded Kanzhun to a “hold” rating in a report on Thursday, July 25th. Barclays reduced their price objective on Kanzhun from $27.00 to $14.00 and set an “overweight” rating on the stock in a research note on Friday, August 30th. Finally, Daiwa Capital Markets lowered Kanzhun from a “buy” rating to a “neutral” rating in a research report on Thursday, July 25th.

Kanzhun Stock Performance

Shares of BZ opened at $12.55 on Tuesday. The business’s 50-day moving average is $13.67 and its two-hundred day moving average is $17.57. The company has a market capitalization of $4.77 billion, a P/E ratio of 32.18 and a beta of 0.47. Kanzhun has a fifty-two week low of $10.57 and a fifty-two week high of $22.74.

Kanzhun (NASDAQ:BZ) last released its quarterly earnings results on Wednesday, August 28th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.01. Kanzhun had a net margin of 20.90% and a return on equity of 10.19%. The firm had revenue of $263.75 million for the quarter, compared to analysts’ expectations of $264.38 million. Analysts forecast that Kanzhun will post 0.47 EPS for the current year.

Hedge Funds Weigh In On Kanzhun

A number of hedge funds and other institutional investors have recently bought and sold shares of BZ. SIH Partners LLLP acquired a new stake in shares of Kanzhun during the 2nd quarter valued at approximately $282,000. The Manufacturers Life Insurance Company raised its holdings in Kanzhun by 127.6% in the second quarter. The Manufacturers Life Insurance Company now owns 2,579,427 shares of the company’s stock valued at $48,519,000 after buying an additional 1,446,033 shares during the period. MBB Public Markets I LLC acquired a new position in Kanzhun during the 2nd quarter worth approximately $308,000. AQR Capital Management LLC purchased a new position in Kanzhun in the second quarter valued at about $28,705,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in Kanzhun by 17.8% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 104,100 shares of the company’s stock valued at $1,958,000 after acquiring an additional 15,700 shares in the last quarter. 60.67% of the stock is currently owned by hedge funds and other institutional investors.

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.