Barclays Issues Positive Forecast for Kanzhun (NASDAQ:BZ) Stock Price

Kanzhun (NASDAQ:BZ) had its price target raised by Barclays from $16.00 to $22.00 in a research report released on Thursday,Benzinga reports. They currently have an overweight rating on the stock.

A number of other brokerages have also weighed in on BZ. Sanford C. Bernstein reiterated a “market perform” rating on shares of Kanzhun in a research note on Wednesday. Citigroup decreased their target price on shares of Kanzhun from $17.00 to $16.00 and set a “buy” rating for the company in a research note on Friday, November 29th. Finally, CLSA started coverage on shares of Kanzhun in a research note on Monday, November 18th. They set an “outperform” rating and a $18.00 target price for the company. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $21.29.

Kanzhun Stock Up 1.0 %

Shares of NASDAQ BZ opened at $18.86 on Thursday. Kanzhun has a twelve month low of $10.57 and a twelve month high of $22.74. The firm has a market cap of $7.18 billion, a P/E ratio of 41.91 and a beta of 0.46. The company has a 50 day moving average of $15.35 and a 200 day moving average of $14.61.

Kanzhun (NASDAQ:BZ) last announced its quarterly earnings data on Wednesday, December 11th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.02. Kanzhun had a net margin of 20.65% and a return on equity of 10.31%. As a group, equities analysts expect that Kanzhun will post 0.46 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Kanzhun

Several hedge funds and other institutional investors have recently modified their holdings of BZ. Capital World Investors increased its stake in shares of Kanzhun by 636.3% in the 4th quarter. Capital World Investors now owns 13,828,732 shares of the company’s stock worth $190,837,000 after purchasing an additional 11,950,467 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Kanzhun by 812.5% in 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 buying an additional 6,339,911 shares during the period. Krane Funds Advisors LLC boosted its holdings in Kanzhun by 49.6% in the 4th quarter. Krane Funds Advisors LLC now owns 16,376,890 shares of the company’s stock worth $226,001,000 after buying an additional 5,432,730 shares during the period. Norges Bank bought a new position in Kanzhun in the 4th quarter worth $64,060,000. Finally, National Bank of Canada FI bought a new position in Kanzhun in the 3rd quarter worth $45,482,000. 60.67% of the stock is currently owned by hedge funds and other institutional investors.

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.