Kanzhun (NASDAQ:BZ) Stock Price Down 3%

Shares of Kanzhun Limited (NASDAQ:BZ) fell 3% during trading on Monday . The company traded as low as $19.44 and last traded at $19.49. 230,619 shares changed hands during mid-day trading, a decline of 93% from the average session volume of 3,362,217 shares. The stock had previously closed at $20.09.

Analysts Set New Price Targets

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

Kanzhun Stock Performance

The company has a market capitalization of $7.51 billion, a price-to-earnings ratio of 60.88 and a beta of 0.59. The company has a 50 day moving average price of $17.89 and a 200 day moving average price of $16.19.

Kanzhun (NASDAQ:BZ) last issued its quarterly earnings results on Tuesday, March 12th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.01. Kanzhun had a return on equity of 8.44% and a net margin of 18.28%. The firm had revenue of $222.57 million during the quarter, compared to analyst estimates of $215.66 million. Research analysts forecast that Kanzhun Limited will post 0.42 EPS for the current year.

Institutional Investors Weigh In On Kanzhun

Hedge funds have recently added to or reduced their stakes in the company. Nordea Investment Management AB purchased a new position in shares of Kanzhun during the 4th quarter worth approximately $4,311,000. Vanguard Group Inc. grew its holdings in shares of Kanzhun by 1.7% during the 3rd quarter. Vanguard Group Inc. now owns 12,615,432 shares of the company’s stock worth $191,376,000 after acquiring an additional 216,558 shares during the period. Bamco Inc. NY grew its holdings in shares of Kanzhun by 23.5% during the 3rd quarter. Bamco Inc. NY now owns 3,050,770 shares of the company’s stock worth $46,280,000 after acquiring an additional 581,094 shares during the period. RWC Asset Management LLP grew its holdings in shares of Kanzhun by 68.5% during the 4th quarter. RWC Asset Management LLP now owns 555,316 shares of the company’s stock worth $9,224,000 after acquiring an additional 225,800 shares during the period. Finally, Swiss National Bank grew its holdings in shares of Kanzhun by 25.8% during the 3rd quarter. Swiss National Bank now owns 515,527 shares of the company’s stock worth $7,821,000 after acquiring an additional 105,600 shares during the period. Institutional investors own 60.67% of the company’s stock.

Kanzhun Company Profile

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.