Kanzhun Limited (NASDAQ:BZ) Receives $21.00 Average Target Price from Analysts

Shares of Kanzhun Limited (NASDAQ:BZ) have received an average rating of “Moderate Buy” from the eleven research firms that are presently covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $21.00.

A number of brokerages have recently commented on BZ. Sanford C. Bernstein lowered shares of Kanzhun from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $19.00 to $15.00 in a report on Monday, December 9th. Citigroup reduced their price target on Kanzhun from $17.00 to $16.00 and set a “buy” rating on the stock in a research report on Friday, November 29th. Barclays lifted their price objective on Kanzhun from $14.00 to $16.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Finally, CLSA started coverage on Kanzhun in a report on Monday, November 18th. They issued an “outperform” rating and a $18.00 target price on the stock.

Kanzhun Price Performance

Shares of BZ opened at $13.80 on Thursday. The firm has a 50 day simple moving average of $13.99 and a two-hundred day simple moving average of $14.99. The company has a market cap of $5.23 billion, a P/E ratio of 30.67 and a beta of 0.50. Kanzhun has a one year low of $10.57 and a one year high of $22.74.

Kanzhun (NASDAQ:BZ) last posted its earnings results on Wednesday, December 11th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.02. Kanzhun had a net margin of 20.65% and a return on equity of 10.48%. On average, analysts expect that Kanzhun will post 0.47 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Kanzhun

A number of large investors have recently modified their holdings of the company. Bank of New York Mellon Corp raised its holdings in shares of Kanzhun by 265.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,326,817 shares of the company’s stock worth $24,957,000 after acquiring an additional 964,110 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Kanzhun during the second quarter valued at approximately $772,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Kanzhun by 144.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 176,158 shares of the company’s stock worth $3,314,000 after buying an additional 104,220 shares in the last quarter. Principal Financial Group Inc. purchased a new stake in Kanzhun in the 2nd quarter valued at $684,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in Kanzhun by 3.0% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,038,103 shares of the company’s stock valued at $19,527,000 after acquiring an additional 30,491 shares in the last quarter. 60.67% of the stock is currently 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.