Kanzhun Limited (NASDAQ:BZ) Given Average Recommendation of “Moderate Buy” by Analysts

Kanzhun Limited (NASDAQ:BZ) has been given an average rating of “Moderate Buy” by the ten brokerages that are covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $21.57.

A number of research analysts have commented on the company. Citigroup reduced their target price on Kanzhun from $17.00 to $16.00 and set a “buy” rating on the stock in a report on Friday, November 29th. Barclays reduced their price objective on Kanzhun from $27.00 to $14.00 and set an “overweight” rating on the stock in a research note on Friday, August 30th. Finally, CLSA assumed 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.

Kanzhun Stock Performance

NASDAQ:BZ opened at $13.92 on Friday. The company has a market capitalization of $5.28 billion, a price-to-earnings ratio of 32.37 and a beta of 0.50. Kanzhun has a one year low of $10.57 and a one year high of $22.74. The stock has a 50-day simple moving average of $14.94 and a 200 day simple moving average of $15.88.

Hedge Funds Weigh In On Kanzhun

Several institutional investors have recently modified their holdings of BZ. California State Teachers Retirement System boosted its position in shares of Kanzhun by 80.5% during the first quarter. California State Teachers Retirement System now owns 62,681 shares of the company’s stock worth $1,099,000 after buying an additional 27,954 shares during the period. Swedbank AB bought a new position in shares of Kanzhun in the first quarter worth $861,000. DekaBank Deutsche Girozentrale increased its holdings in shares of Kanzhun by 6.6% during the first quarter. DekaBank Deutsche Girozentrale now owns 32,066 shares of the company’s stock valued at $565,000 after purchasing an additional 1,977 shares during the period. DNB Asset Management AS raised its stake in shares of Kanzhun by 21.7% during the second quarter. DNB Asset Management AS now owns 17,544 shares of the company’s stock valued at $330,000 after purchasing an additional 3,123 shares in the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. lifted its holdings in Kanzhun by 20.5% in the second quarter. E Fund Management Hong Kong Co. Ltd. now owns 210,998 shares of the company’s stock worth $3,969,000 after purchasing an additional 35,871 shares during the period. Institutional investors own 60.67% of the company’s stock.

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.