Kanzhun (NASDAQ:BZ) Shares Gap Up – Still a Buy?

Kanzhun Limited (NASDAQ:BZ)’s share price gapped up before the market opened on Friday . The stock had previously closed at $14.89, but opened at $15.85. Kanzhun shares last traded at $15.31, with a volume of 259,955 shares.

Wall Street Analyst Weigh In

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

Kanzhun Price Performance

The company has a fifty day moving average price of $14.42 and a two-hundred day moving average price of $17.30. The firm has a market cap of $5.76 billion, a price-to-earnings ratio of 38.85 and a beta of 0.52.

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

Institutional Trading of Kanzhun

A number of large investors have recently added to or reduced their stakes in the business. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Kanzhun by 31.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 150,279 shares of the company’s stock valued at $2,634,000 after acquiring an additional 35,700 shares during the last quarter. Sei Investments Co. increased its stake in Kanzhun by 25.3% in the 1st quarter. Sei Investments Co. now owns 700,049 shares of the company’s stock worth $12,272,000 after purchasing an additional 141,275 shares in the last quarter. Jennison Associates LLC raised its holdings in Kanzhun by 7.5% during the 1st quarter. Jennison Associates LLC now owns 1,177,628 shares of the company’s stock worth $20,644,000 after buying an additional 82,287 shares during the period. Mitsubishi UFJ Trust & Banking Corp raised its holdings in Kanzhun by 1.9% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 329,341 shares of the company’s stock worth $6,028,000 after buying an additional 6,203 shares during the period. Finally, SG Americas Securities LLC lifted its stake in Kanzhun by 29.9% during the first quarter. SG Americas Securities LLC now owns 1,278,522 shares of the company’s stock valued at $22,412,000 after buying an additional 294,026 shares in the last quarter. 60.67% of the stock is currently owned by institutional investors.

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.