Kanzhun (NASDAQ:BZ) Shares Up 4.4% – Here’s Why

Kanzhun Limited (NASDAQ:BZ) shot up 4.4% on Thursday . The company traded as high as $17.99 and last traded at $17.90. 859,954 shares were traded during mid-day trading, a decline of 78% from the average session volume of 3,838,316 shares. The stock had previously closed at $17.14.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on BZ shares. Sanford C. Bernstein cut Kanzhun from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $19.00 to $15.00 in a report on Monday, December 9th. Citigroup reduced their target price on Kanzhun from $17.00 to $16.00 and set a “buy” rating for the company in a report on Friday, November 29th. CLSA began coverage on Kanzhun in a report on Monday, November 18th. They set an “outperform” rating and a $18.00 target price for the company. Finally, Barclays upped their price target on Kanzhun from $14.00 to $16.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $21.00.

Kanzhun Price Performance

The firm has a market capitalization of $6.80 billion, a price-to-earnings ratio of 39.69 and a beta of 0.46. The firm has a 50 day moving average price of $14.98 and a 200-day moving average price of $14.50.

Kanzhun (NASDAQ:BZ) last announced its quarterly earnings data on Wednesday, December 11th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.02. Kanzhun had a return on equity of 10.31% and a net margin of 20.65%. Equities research analysts predict that Kanzhun Limited will post 0.46 earnings per share for the current year.

Institutional Trading of Kanzhun

A number of hedge funds and other institutional investors have recently bought and sold shares of BZ. Capital World Investors increased its position in shares of Kanzhun by 636.3% during the fourth quarter. Capital World Investors now owns 13,828,732 shares of the company’s stock worth $190,837,000 after purchasing an additional 11,950,467 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Kanzhun by 812.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,120,232 shares of the company’s stock worth $123,607,000 after purchasing an additional 6,339,911 shares in the last quarter. Krane Funds Advisors LLC increased its position in shares of Kanzhun by 49.6% during the fourth quarter. Krane Funds Advisors LLC now owns 16,376,890 shares of the company’s stock worth $226,001,000 after purchasing an additional 5,432,730 shares in the last quarter. Norges Bank acquired a new stake in shares of Kanzhun during the fourth quarter worth about $64,060,000. Finally, National Bank of Canada FI acquired a new stake in shares of Kanzhun during the third quarter worth about $45,482,000. 60.67% of the stock is currently owned by institutional investors and hedge funds.

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.