Kanzhun (NASDAQ:BZ) Trading Down 3%

Shares of Kanzhun Limited (NASDAQ:BZ) traded down 3% on Wednesday . The company traded as low as $13.80 and last traded at $13.81. 122,309 shares traded hands during mid-day trading, a decline of 97% from the average session volume of 3,757,263 shares. The stock had previously closed at $14.24.

Analysts Set New Price Targets

A number of research firms have commented on BZ. Daiwa America upgraded shares of Kanzhun to a “hold” rating in a report on Thursday, July 25th. JPMorgan Chase & Co. increased their price target on Kanzhun from $23.00 to $24.50 and gave the company an “overweight” rating in a report on Wednesday, May 22nd. HSBC started coverage on Kanzhun in a research note on Friday, May 24th. They set a “buy” rating and a $30.00 price objective on the stock. UBS Group raised their target price on Kanzhun from $22.00 to $23.50 and gave the stock a “neutral” rating in a research note on Wednesday, May 22nd. Finally, Daiwa Capital Markets lowered shares of Kanzhun from a “buy” rating to a “neutral” rating in a research report on Thursday, July 25th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $23.71.

Kanzhun Stock Performance

The business has a 50-day simple moving average of $17.15 and a 200-day simple moving average of $17.91. The company has a market cap of $5.55 billion, a price-to-earnings ratio of 36.15 and a beta of 0.48.

Kanzhun (NASDAQ:BZ) last announced its quarterly earnings data on Tuesday, May 21st. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.03. The company had revenue of $235.97 million for the quarter, compared to the consensus estimate of $230.09 million. Kanzhun had a net margin of 20.55% and a return on equity of 9.73%. Research analysts anticipate that Kanzhun Limited will post 0.5 EPS for the current year.

Institutional Trading of Kanzhun

Hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Kanzhun in the 4th quarter valued at approximately $98,023,000. RWC Asset Advisors US LLC grew its position in Kanzhun by 79.8% in the 2nd quarter. RWC Asset Advisors US LLC now owns 5,700,186 shares of the company’s stock valued at $107,220,000 after buying an additional 2,529,725 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in Kanzhun by 308.2% in the 1st quarter. Assenagon Asset Management S.A. now owns 2,765,211 shares of the company’s stock valued at $48,474,000 after buying an additional 2,087,745 shares during the period. GGV Capital LLC raised its position in Kanzhun by 350.8% during the 1st quarter. GGV Capital LLC now owns 2,366,764 shares of the company’s stock worth $41,489,000 after buying an additional 1,841,764 shares during the last quarter. Finally, AQR Capital Management LLC acquired a new stake in shares of Kanzhun in the 2nd quarter worth $28,705,000. Institutional investors and hedge funds 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.