Kanzhun (NASDAQ:BZ) Shares Up 5.5% – What’s Next?

Kanzhun Limited (NASDAQ:BZ)’s share price shot up 5.5% during trading on Friday . The stock traded as high as $14.55 and last traded at $14.62. 334,959 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 3,096,209 shares. The stock had previously closed at $13.86.

Analyst Ratings Changes

BZ has been the subject of several research analyst reports. Citigroup decreased their target price on Kanzhun from $17.00 to $16.00 and set a “buy” rating for the company in a research report on Friday, November 29th. CLSA assumed coverage on shares of Kanzhun in a research report on Monday, November 18th. They issued an “outperform” rating and a $18.00 price objective for the company. Sanford C. Bernstein downgraded shares of Kanzhun from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $19.00 to $15.00 in a research note on Monday, December 9th. Finally, Barclays lifted their price target on shares of Kanzhun from $14.00 to $16.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $21.00.

Kanzhun Stock Up 5.4 %

The stock has a market capitalization of $5.54 billion, a P/E ratio of 32.46 and a beta of 0.49. The stock’s 50 day moving average price is $13.70 and its 200-day moving average price is $14.54.

Kanzhun (NASDAQ:BZ) last announced its earnings results 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%. Analysts anticipate that Kanzhun Limited will post 0.46 earnings per share for the current year.

Institutional Investors Weigh In On Kanzhun

Hedge funds and other institutional investors have recently bought and sold shares of the company. UMB Bank n.a. acquired a new stake in Kanzhun in the third quarter worth about $42,000. Van ECK Associates Corp purchased a new position in shares of Kanzhun in the 3rd quarter valued at approximately $61,000. Premier Fund Managers Ltd boosted its stake in Kanzhun by 38.0% in the 3rd quarter. Premier Fund Managers Ltd now owns 10,470 shares of the company’s stock worth $180,000 after purchasing an additional 2,884 shares in the last quarter. DRW Securities LLC acquired a new stake in Kanzhun in the 3rd quarter worth approximately $203,000. Finally, Hancock Whitney Corp purchased a new stake in Kanzhun during the 3rd quarter worth approximately $228,000. Hedge funds and other institutional investors own 60.67% of the company’s stock.

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.