Kanzhun (NASDAQ:BZ) Stock Price Down 5% – Time to Sell?

Kanzhun Limited (NASDAQ:BZ)’s stock price was down 5% on Wednesday . The company traded as low as $16.35 and last traded at $16.41. Approximately 1,475,896 shares changed hands during trading, a decline of 65% from the average daily volume of 4,179,891 shares. The stock had previously closed at $17.27.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on BZ. Barclays cut their target price on shares of Kanzhun from $27.00 to $14.00 and set an “overweight” rating on the stock in a report on Friday, August 30th. Daiwa America raised shares of Kanzhun to a “hold” rating in a report on Thursday, July 25th. Finally, Daiwa Capital Markets lowered shares of Kanzhun from a “buy” rating to a “neutral” rating in a research note on Thursday, July 25th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Kanzhun has a consensus rating of “Moderate Buy” and a consensus target price of $23.40.

Kanzhun Price Performance

The firm’s fifty day moving average is $14.05 and its two-hundred day moving average is $17.42. The firm has a market cap of $6.32 billion, a price-to-earnings ratio of 44.28 and a beta of 0.52.

Kanzhun (NASDAQ:BZ) last posted its quarterly earnings data on Wednesday, August 28th. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.01. The business had revenue of $263.75 million for the quarter, compared to analyst estimates of $264.38 million. Kanzhun had a net margin of 20.90% and a return on equity of 10.19%. On average, equities analysts forecast that Kanzhun Limited will post 0.47 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Kanzhun

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Atlas Capital Advisors LLC purchased a new position in shares of Kanzhun in the second quarter worth approximately $25,000. UMB Bank n.a. acquired a new stake in Kanzhun during the 3rd quarter valued at $42,000. Summit Securities Group LLC purchased a new stake in shares of Kanzhun in the second quarter valued at $44,000. Blue Trust Inc. boosted its position in shares of Kanzhun by 21.4% in the second quarter. Blue Trust Inc. now owns 7,638 shares of the company’s stock worth $134,000 after buying an additional 1,347 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd purchased a new position in shares of Kanzhun during the second quarter valued at $204,000. Institutional investors and hedge funds 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.