Kanzhun (NASDAQ:BZ) Rating Increased to Hold at Daiwa America

Kanzhun (NASDAQ:BZ) was upgraded by stock analysts at Daiwa America to a “hold” rating in a report released on Thursday, Zacks.com reports.

Several other analysts have also weighed in on BZ. Daiwa Capital Markets cut shares of Kanzhun from a “buy” rating to a “neutral” rating in a research note on Thursday. JPMorgan Chase & Co. upped 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 began coverage on Kanzhun in a report on Friday, May 24th. They set a “buy” rating and a $30.00 price objective for the company. Finally, UBS Group boosted their price target on Kanzhun from $22.00 to $23.50 and gave the stock a “neutral” rating in a research report on Wednesday, May 22nd. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Kanzhun presently has an average rating of “Moderate Buy” and a consensus price target of $23.71.

Kanzhun Trading Down 0.1 %

Kanzhun stock opened at $13.71 on Thursday. The stock has a 50 day moving average of $19.33 and a 200-day moving average of $17.95. The stock has a market cap of $5.22 billion, a P/E ratio of 35.15 and a beta of 0.49. Kanzhun has a 52 week low of $12.57 and a 52 week high of $22.74.

Kanzhun (NASDAQ:BZ) last issued its earnings results on Tuesday, May 21st. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.03. The firm had revenue of $235.97 million for the quarter, compared to analyst estimates of $230.09 million. Kanzhun had a return on equity of 9.73% and a net margin of 20.55%. As a group, equities analysts predict that Kanzhun will post 0.52 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Summit Securities Group LLC acquired a new position in shares of Kanzhun in the second quarter valued at $44,000. Allspring Global Investments Holdings LLC bought a new stake in Kanzhun in the second quarter valued at $772,000. Bank of New York Mellon Corp lifted 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 purchasing an additional 964,110 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in Kanzhun by 78.5% during the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 116,000 shares of the company’s stock valued at $2,182,000 after acquiring an additional 51,000 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Kanzhun by 12.3% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 584,510 shares of the company’s stock valued at $10,995,000 after acquiring an additional 63,843 shares in the last quarter. 60.67% of the stock is owned by institutional investors and hedge funds.

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.