Kanzhun (NASDAQ:BZ) Sees Large Volume Increase – What’s Next?

Kanzhun Limited (NASDAQ:BZ) saw unusually-strong trading volume on Wednesday . Approximately 1,353,739 shares changed hands during mid-day trading, a decline of 67% from the previous session’s volume of 4,086,739 shares.The stock last traded at $12.42 and had previously closed at $12.18.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on BZ shares. Barclays lowered their target price on Kanzhun from $27.00 to $14.00 and set an “overweight” rating for the company in a research note on Friday, August 30th. CLSA began coverage on shares of Kanzhun in a research note on Monday, November 18th. They set an “outperform” rating and a $18.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $22.50.

Kanzhun Price Performance

The business’s 50-day moving average price is $15.05 and its two-hundred day moving average price is $16.26. The firm has a market cap of $4.77 billion, a price-to-earnings ratio of 29.26 and a beta of 0.55.

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Atlas Capital Advisors LLC acquired a new stake in shares of Kanzhun during the 2nd quarter valued at approximately $25,000. UMB Bank n.a. bought a new stake in Kanzhun during the third quarter valued at $42,000. Summit Securities Group LLC acquired a new stake in shares of Kanzhun during the second quarter worth $44,000. Van ECK Associates Corp acquired a new position in shares of Kanzhun in the 3rd quarter valued at about $61,000. Finally, Blue Trust Inc. grew its position in shares of Kanzhun by 21.4% during the 2nd quarter. Blue Trust Inc. now owns 7,638 shares of the company’s stock valued at $134,000 after buying an additional 1,347 shares during the last quarter. Institutional investors own 60.67% of the company’s stock.

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.