Kanzhun (NASDAQ:BZ) Shares Up 6.8% – Here’s Why

Kanzhun Limited (NASDAQ:BZ)’s stock price rose 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 changed hands during mid-day trading, a decline of 27% from the average daily volume of 2,998,927 shares. The stock had previously closed at $14.70.

Analyst Ratings Changes

BZ has been the topic of a number of research reports. CLSA initiated coverage on Kanzhun in a report on Monday, November 18th. They issued an “outperform” rating and a $18.00 price objective on the stock. Citigroup lowered their price target on shares of Kanzhun from $17.00 to $16.00 and set a “buy” rating on the stock in a research report on Friday, November 29th. Barclays boosted their price objective on shares of Kanzhun from $14.00 to $16.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Finally, Sanford C. Bernstein cut shares of Kanzhun from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $19.00 to $15.00 in a 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 company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.00.

Kanzhun Trading Up 8.4 %

The business has a 50-day moving average of $14.20 and a 200 day moving average of $14.21. The firm has a market capitalization of $6.07 billion, a PE ratio of 35.41 and a beta of 0.49.

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%. On average, sell-side analysts expect that Kanzhun Limited will post 0.46 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of BZ. UMB Bank n.a. bought a new position in shares of Kanzhun in the third quarter valued at approximately $42,000. PNC Financial Services Group Inc. boosted its holdings in Kanzhun by 107.5% in the 4th 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. Van ECK Associates Corp purchased a new position in shares of Kanzhun during the 3rd quarter valued at $61,000. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Kanzhun in the fourth quarter worth $63,000. Finally, Premier Fund Managers Ltd boosted its stake in Kanzhun by 38.0% during the third quarter. Premier Fund Managers Ltd now owns 10,470 shares of the company’s stock valued at $180,000 after buying an additional 2,884 shares during the period. 60.67% of the stock is 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.