Kanzhun (NASDAQ:BZ) Sees Large Volume Increase – Should You Buy?

Shares of Kanzhun Limited (NASDAQ:BZ) saw strong trading volume on Tuesday . 2,415,620 shares were traded during mid-day trading, a decline of 16% from the previous session’s volume of 2,888,078 shares.The stock last traded at $14.04 and had previously closed at $13.33.

Analyst Ratings Changes

BZ has been the topic of several research reports. Citigroup cut their price objective on Kanzhun from $17.00 to $16.00 and set a “buy” rating on the stock in a research report on Friday, November 29th. CLSA began coverage on shares of Kanzhun in a report on Monday, November 18th. They issued an “outperform” rating and a $18.00 price objective on the stock. Sanford C. Bernstein lowered shares of Kanzhun from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $19.00 to $15.00 in a report on Monday, December 9th. Finally, Barclays raised their price objective on Kanzhun from $14.00 to $16.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Four equities 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 stock presently has a consensus rating of “Moderate Buy” and an average price target of $21.00.

Kanzhun Price Performance

The firm has a market capitalization of $5.32 billion, a P/E ratio of 31.20 and a beta of 0.49. The stock’s 50-day simple moving average is $13.77 and its two-hundred day simple moving average is $14.58.

Kanzhun (NASDAQ:BZ) last posted its quarterly earnings results on Wednesday, December 11th. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.02. Kanzhun had a return on equity of 10.48% and a net margin of 20.65%. On average, analysts forecast that Kanzhun Limited will post 0.47 earnings per share for the current fiscal year.

Institutional Trading of Kanzhun

A number of institutional investors and hedge funds have recently bought and sold shares of BZ. Assenagon Asset Management S.A. lifted its position in Kanzhun by 2.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 3,777,991 shares of the company’s stock worth $52,136,000 after buying an additional 78,697 shares during the last quarter. Nordea Investment Management AB raised its stake in shares of Kanzhun by 13.8% in the fourth quarter. Nordea Investment Management AB now owns 282,510 shares of the company’s stock valued at $3,928,000 after acquiring an additional 34,284 shares during the period. Franklin Resources Inc. boosted its stake in shares of Kanzhun by 12.8% during the 3rd quarter. Franklin Resources Inc. now owns 136,728 shares of the company’s stock worth $2,201,000 after purchasing an additional 15,497 shares during the period. Tidal Investments LLC bought a new stake in Kanzhun in the third quarter worth about $662,000. Finally, Geode Capital Management LLC grew its stake in shares of 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 buying an additional 58,065 shares during the last quarter. 60.67% of the stock is currently owned by 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.