Kanzhun (NASDAQ:BZ) Shares Down 3%

Kanzhun Limited (NASDAQ:BZ)’s share price dropped 3% during trading on Monday . The company traded as low as $19.44 and last traded at $19.49. Approximately 230,619 shares changed hands during trading, a decline of 93% from the average daily volume of 3,362,217 shares. The stock had previously closed at $20.09.

Analyst Upgrades and Downgrades

Several brokerages have commented on BZ. TheStreet raised shares of Kanzhun from a “d+” rating to a “c-” rating in a research note on Wednesday, March 13th. New Street Research raised Kanzhun from a “neutral” rating to a “buy” rating and raised their price target for the stock from $17.00 to $25.00 in a research report on Wednesday, March 13th. Macquarie upgraded Kanzhun from a “neutral” rating to an “outperform” rating in a research report on Tuesday, March 12th. Finally, Barclays raised their target price on shares of Kanzhun from $22.00 to $27.00 and gave the stock an “overweight” rating in a report on Wednesday, March 13th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $20.38.

Kanzhun Stock Performance

The stock has a 50-day moving average of $18.10 and a 200-day moving average of $16.25. The firm has a market cap of $7.43 billion, a price-to-earnings ratio of 59.97 and a beta of 0.59.

Kanzhun (NASDAQ:BZ) last released its earnings results on Tuesday, March 12th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Kanzhun had a return on equity of 8.44% and a net margin of 18.28%. The business had revenue of $222.57 million for the quarter, compared to the consensus estimate of $215.66 million. Sell-side analysts predict that Kanzhun Limited will post 0.42 EPS for the current fiscal year.

Institutional Trading of Kanzhun

Several institutional investors and hedge funds have recently added to or reduced their stakes in BZ. China Universal Asset Management Co. Ltd. bought a new position in Kanzhun during the first quarter worth about $1,139,000. Assenagon Asset Management S.A. boosted its stake in shares of Kanzhun by 308.2% during the 1st quarter. Assenagon Asset Management S.A. now owns 2,765,211 shares of the company’s stock worth $48,474,000 after acquiring an additional 2,087,745 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Kanzhun by 1.9% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 520,667 shares of the company’s stock valued at $9,127,000 after acquiring an additional 9,891 shares during the period. Renaissance Capital LLC lifted its holdings in Kanzhun by 4.4% during the 1st quarter. Renaissance Capital LLC now owns 214,728 shares of the company’s stock valued at $3,764,000 after purchasing an additional 9,073 shares during the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in Kanzhun during the first quarter worth $600,000. 60.67% of the stock is owned by institutional investors.

About Kanzhun

Kanzhun Limited engages in the provision of online recruitment solutions in the People's Republic of China. The company offers its recruitment solutions through a mobile app under the BOSS Zhipin brand name. Its recruitment platform assists the recruitment process between job seekers and employers for enterprises, and corporations.