Kanzhun (NASDAQ:BZ) Shares Gap Down – Should You Sell?

Shares of Kanzhun Limited (NASDAQ:BZ) gapped down before the market opened on Thursday . The stock had previously closed at $20.56, but opened at $19.59. Kanzhun shares last traded at $20.29, with a volume of 870,135 shares.

Analysts Set New Price Targets

A number of equities analysts recently commented on BZ shares. Barclays lifted their price target on shares of Kanzhun from $16.00 to $22.00 and gave the stock an “overweight” rating in a research note on Thursday, March 13th. Sanford C. Bernstein reissued a “market perform” rating and issued a $18.00 price objective on shares of Kanzhun in a research report on Wednesday, March 12th. Finally, Citigroup lowered their price objective on shares of Kanzhun from $17.00 to $16.00 and set a “buy” rating for the company in a research report on Friday, November 29th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Kanzhun has a consensus rating of “Moderate Buy” and a consensus price target of $21.71.

Kanzhun Stock Performance

The firm has a market cap of $7.77 billion, a P/E ratio of 45.25 and a beta of 0.46. The firm’s fifty day moving average price is $15.89 and its 200 day moving average price is $14.84.

Institutional Investors Weigh In On Kanzhun

Several large investors have recently modified their holdings of the business. Quadrant Capital Group LLC raised its stake in shares of Kanzhun by 403.1% during the 4th quarter. Quadrant Capital Group LLC now owns 1,781 shares of the company’s stock worth $25,000 after acquiring an additional 1,427 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Kanzhun by 107.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,976 shares of the company’s stock worth $41,000 after acquiring an additional 1,542 shares in the last quarter. China Universal Asset Management Co. Ltd. bought a new position in shares of Kanzhun during the 4th quarter worth approximately $63,000. Townsquare Capital LLC bought a new position in shares of Kanzhun during the 4th quarter worth approximately $157,000. Finally, Tudor Investment Corp ET AL bought a new position in shares of Kanzhun during the 4th quarter worth approximately $160,000. Institutional investors 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.