Kanzhun (NASDAQ:BZ) Trading 7.2% Higher – Should You Buy?

Kanzhun Limited (NASDAQ:BZ) shares rose 7.2% on Friday . The company traded as high as $13.50 and last traded at $13.48. Approximately 2,104,303 shares changed hands during trading, a decline of 49% from the average daily volume of 4,126,284 shares. The stock had previously closed at $12.58.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. CLSA started coverage on shares of Kanzhun in a research note on Monday, November 18th. They issued an “outperform” rating and a $18.00 price target for the company. Barclays lowered their target price on Kanzhun from $27.00 to $14.00 and set an “overweight” rating for the company in a research note on Friday, August 30th. Finally, Citigroup decreased their price objective on Kanzhun from $17.00 to $16.00 and set a “buy” rating for the company in a report on Friday. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $21.57.

Kanzhun Stock Performance

The stock has a 50-day moving average of $15.06 and a two-hundred day moving average of $16.17. The company has a market cap of $5.12 billion, a P/E ratio of 31.40 and a beta of 0.55.

Kanzhun (NASDAQ:BZ) last issued its earnings results on Wednesday, August 28th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.01. The firm had revenue of $263.75 million for 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%. Research analysts predict that Kanzhun Limited will post 0.47 EPS for the current year.

Institutional Trading of Kanzhun

Several institutional investors have recently added to or reduced their stakes in the business. Franklin Resources Inc. lifted its stake in Kanzhun by 12.8% during the 3rd quarter. Franklin Resources Inc. now owns 136,728 shares of the company’s stock valued at $2,201,000 after acquiring an additional 15,497 shares during the period. Tidal Investments LLC purchased a new position in shares of Kanzhun during the third quarter valued at approximately $662,000. Geode Capital Management LLC lifted its position in Kanzhun by 3.3% during the third quarter. Geode Capital Management LLC now owns 1,822,128 shares of the company’s stock valued at $31,404,000 after purchasing an additional 58,065 shares during the period. ABS Direct Equity Fund LLC grew its position in Kanzhun by 84.5% in the 3rd quarter. ABS Direct Equity Fund LLC now owns 104,172 shares of the company’s stock worth $1,808,000 after purchasing an additional 47,700 shares during the period. Finally, M&T Bank Corp grew its position in Kanzhun by 25.8% in the 3rd quarter. M&T Bank Corp now owns 110,783 shares of the company’s stock worth $1,923,000 after purchasing an additional 22,706 shares during the period. 60.67% of the stock is currently owned by hedge funds and other 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.