Kanzhun (NASDAQ:BZ) Shares Down 5.2% – What’s Next?

Shares of Kanzhun Limited (NASDAQ:BZ) were down 5.2% during trading on Tuesday . The company traded as low as $15.15 and last traded at $15.26. Approximately 610,828 shares traded hands during trading, a decline of 85% from the average daily volume of 4,165,572 shares. The stock had previously closed at $16.10.

Analyst Upgrades and Downgrades

BZ has been the subject of a number of research reports. Daiwa Capital Markets cut Kanzhun from a “buy” rating to a “neutral” rating in a report on Thursday, July 25th. Daiwa America raised shares of Kanzhun to a “hold” rating in a research report on Thursday, July 25th. Finally, Barclays reduced their target price on shares of Kanzhun from $27.00 to $14.00 and set an “overweight” rating on the stock in a report on Friday, August 30th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Kanzhun presently has an average rating of “Moderate Buy” and an average price target of $23.40.

Kanzhun Price Performance

The company has a fifty day moving average of $14.38 and a two-hundred day moving average of $17.35. The stock has a market capitalization of $5.85 billion, a P/E ratio of 39.41 and a beta of 0.52.

Kanzhun (NASDAQ:BZ) last announced its quarterly earnings data on Wednesday, August 28th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.01. The firm had revenue of $263.75 million for the quarter, compared to analysts’ expectations of $264.38 million. Kanzhun had a return on equity of 10.19% and a net margin of 20.90%. As a group, equities research analysts predict that Kanzhun Limited will post 0.47 EPS for the current fiscal year.

Hedge Funds Weigh In On Kanzhun

Institutional investors have recently made changes to their positions in the stock. Atlas Capital Advisors LLC bought a new stake in Kanzhun in the 2nd quarter valued at about $25,000. Summit Securities Group LLC acquired a new position in shares of Kanzhun during the second quarter worth approximately $44,000. UMB Bank n.a. bought a new position in Kanzhun in the 3rd quarter worth approximately $42,000. Blue Trust Inc. increased its position in Kanzhun by 21.4% in the 2nd quarter. Blue Trust Inc. now owns 7,638 shares of the company’s stock valued at $134,000 after acquiring an additional 1,347 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd bought a new stake in Kanzhun during the 2nd quarter valued at $204,000. 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.