Kanzhun (NASDAQ:BZ) Shares Gap Up Following Better-Than-Expected Earnings

Kanzhun Limited (NASDAQ:BZ) shares gapped up prior to trading on Thursday following a stronger than expected earnings report. The stock had previously closed at $10.95, but opened at $11.81. Kanzhun shares last traded at $11.90, with a volume of 3,021,978 shares.

The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.12 by $0.01. The business had revenue of $263.75 million for the quarter, compared to the consensus estimate of $264.38 million. Kanzhun had a net margin of 20.55% and a return on equity of 9.73%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. UBS Group lifted their price objective on Kanzhun from $22.00 to $23.50 and gave the stock a “neutral” rating in a research note on Wednesday, May 22nd. Daiwa America upgraded shares of Kanzhun to a “hold” rating in a research report on Thursday, July 25th. JPMorgan Chase & Co. boosted their target price on shares of Kanzhun from $23.00 to $24.50 and gave the company an “overweight” rating in a report on Wednesday, May 22nd. HSBC initiated coverage on shares of Kanzhun in a research report on Friday, May 24th. They set a “buy” rating and a $30.00 price target on the stock. Finally, Daiwa Capital Markets lowered Kanzhun from a “buy” rating to a “neutral” rating in a research report on Thursday, July 25th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $25.00.

Institutional Trading of Kanzhun

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Atlas Capital Advisors LLC bought a new stake in shares of Kanzhun in the 2nd quarter worth $25,000. Summit Securities Group LLC purchased a new position in Kanzhun during the second quarter worth about $44,000. Blue Trust Inc. grew its position in Kanzhun by 21.4% in the 2nd quarter. Blue Trust Inc. now owns 7,638 shares of the company’s stock worth $134,000 after purchasing an additional 1,347 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new stake in Kanzhun in the 2nd quarter valued at about $204,000. Finally, SIH Partners LLLP bought a new position in shares of Kanzhun during the 2nd quarter worth approximately $282,000. 60.67% of the stock is owned by institutional investors.

Kanzhun Stock Performance

The stock has a market cap of $4.69 billion, a PE ratio of 31.59 and a beta of 0.48. The business has a 50 day moving average price of $15.79 and a two-hundred day moving average price of $17.88.

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.