Kanzhun (NASDAQ:BZ) Shares Gap Up on Analyst Upgrade

Shares of Kanzhun Limited (NASDAQ:BZ) gapped up prior to trading on Monday after Barclays raised their price target on the stock from $14.00 to $16.00. The stock had previously closed at $13.92, but opened at $14.90. Barclays currently has an overweight rating on the stock. Kanzhun shares last traded at $15.63, with a volume of 2,662,552 shares.

A number of other equities analysts have also commented on the company. Sanford C. Bernstein lowered Kanzhun from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $19.00 to $15.00 in a research note on Monday. CLSA assumed coverage on Kanzhun in a research report on Monday, November 18th. They set an “outperform” rating and a $18.00 target price for the company. Finally, Citigroup reduced their price target on shares of Kanzhun from $17.00 to $16.00 and set a “buy” rating on the stock in a research report on Friday, November 29th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $21.00.

Hedge Funds Weigh In On Kanzhun

A number of large investors have recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Kanzhun by 812.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,120,232 shares of the company’s stock worth $123,607,000 after acquiring an additional 6,339,911 shares during the last quarter. RWC Asset Advisors US LLC increased its stake in Kanzhun by 79.8% in the second quarter. RWC Asset Advisors US LLC now owns 5,700,186 shares of the company’s stock worth $107,220,000 after purchasing an additional 2,529,725 shares during the period. Federated Hermes Inc. lifted its position in shares of Kanzhun by 10.4% during the second quarter. Federated Hermes Inc. now owns 5,368,870 shares of the company’s stock worth $100,988,000 after purchasing an additional 507,337 shares during the last quarter. State Street Corp boosted its stake in shares of Kanzhun by 2.8% during the third quarter. State Street Corp now owns 5,084,631 shares of the company’s stock valued at $88,269,000 after purchasing an additional 138,804 shares during the period. Finally, Assenagon Asset Management S.A. bought a new position in shares of Kanzhun in the third quarter worth about $64,220,000. 60.67% of the stock is owned by hedge funds and other institutional investors.

Kanzhun Trading Up 10.2 %

The company’s 50 day moving average is $14.90 and its 200 day moving average is $15.79. The company has a market cap of $5.82 billion, a PE ratio of 35.68 and a beta of 0.50.

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.