Kanzhun (NASDAQ:BZ) Trading Up 6.8% – Still a Buy?

Kanzhun Limited (NASDAQ:BZ)’s stock price was up 6.8% during trading on Wednesday . The stock traded as high as $15.56 and last traded at $15.70. Approximately 2,190,911 shares were traded during trading, a decline of 27% from the average daily volume of 2,998,927 shares. The stock had previously closed at $14.70.

Analysts Set New Price Targets

Several research firms have weighed in on BZ. Citigroup dropped their price objective on Kanzhun from $17.00 to $16.00 and set a “buy” rating for the company in a report on Friday, November 29th. CLSA started coverage on shares of Kanzhun in a report on Monday, November 18th. They issued an “outperform” rating and a $18.00 price objective for the company. Barclays upped their target price on Kanzhun from $14.00 to $16.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Finally, Sanford C. Bernstein lowered Kanzhun from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $19.00 to $15.00 in a research report on Monday, December 9th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Kanzhun presently has an average rating of “Moderate Buy” and an average target price of $21.00.

Kanzhun Stock Performance

The firm has a market cap of $6.07 billion, a P/E ratio of 35.41 and a beta of 0.49. The business’s 50-day simple moving average is $14.20 and its 200 day simple moving average is $14.21.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. PNC Financial Services Group Inc. raised its position in Kanzhun by 107.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,976 shares of the company’s stock valued at $41,000 after purchasing an additional 1,542 shares during the period. UMB Bank n.a. purchased a new position in shares of Kanzhun during the third quarter valued at approximately $42,000. Van ECK Associates Corp purchased a new stake in shares of Kanzhun in the third quarter worth approximately $61,000. China Universal Asset Management Co. Ltd. purchased a new position in Kanzhun during the 4th quarter valued at $63,000. Finally, Virtu Financial LLC bought a new position in Kanzhun in the 4th quarter valued at $162,000. 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.