Citigroup Cuts Kanzhun (NASDAQ:BZ) Price Target to $16.00

Kanzhun (NASDAQ:BZ) had its price target decreased by Citigroup from $17.00 to $16.00 in a report released on Friday morning,Benzinga reports. Citigroup currently has a buy rating on the stock.

Several other equities research analysts also recently issued reports on the stock. Barclays decreased their price objective on shares of Kanzhun from $27.00 to $14.00 and set an “overweight” rating for the company in a research note on Friday, August 30th. CLSA assumed coverage on Kanzhun in a report on Monday, November 18th. They issued an “outperform” rating and a $18.00 price target for the company. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Kanzhun currently has an average rating of “Moderate Buy” and a consensus target price of $21.57.

Kanzhun Stock Performance

Shares of NASDAQ:BZ opened at $13.50 on Friday. The stock has a 50-day simple moving average of $15.06 and a 200-day simple moving average of $16.13. The stock has a market capitalization of $5.12 billion, a P/E ratio of 31.40 and a beta of 0.55. Kanzhun has a 1 year low of $10.57 and a 1 year high of $22.74.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BZ. Atlas Capital Advisors LLC acquired a new stake in Kanzhun in the second quarter valued at $25,000. UMB Bank n.a. bought a new position in shares of Kanzhun during the third quarter worth about $42,000. Summit Securities Group LLC acquired a new position in Kanzhun in the second quarter worth about $44,000. Van ECK Associates Corp bought a new stake in Kanzhun in the third quarter valued at about $61,000. Finally, Blue Trust Inc. raised its stake in Kanzhun by 21.4% during the second quarter. Blue Trust Inc. now owns 7,638 shares of the company’s stock valued at $134,000 after buying an additional 1,347 shares in the last quarter. 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.