Kanzhun (NASDAQ:BZ) Stock Price Down 5.2% – Here’s Why

Kanzhun Limited (NASDAQ:BZ) was down 5.2% on Tuesday . The company traded as low as $15.15 and last traded at $15.26. Approximately 610,828 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 4,165,572 shares. The stock had previously closed at $16.10.

Analysts Set New Price Targets

A number of analysts recently weighed in on BZ shares. Daiwa Capital Markets cut shares of Kanzhun from a “buy” rating to a “neutral” rating in a report on Thursday, July 25th. Daiwa America raised Kanzhun to a “hold” rating in a research note on Thursday, July 25th. Finally, Barclays cut their target price on Kanzhun from $27.00 to $14.00 and set an “overweight” rating on the stock in a research report on Friday, August 30th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $23.40.

Kanzhun Stock Performance

The firm’s 50-day simple moving average is $14.38 and its 200-day simple moving average is $17.35. The company has a market capitalization of $5.85 billion, a price-to-earnings ratio of 39.41 and a beta of 0.52.

Kanzhun (NASDAQ:BZ) last issued its earnings results on Wednesday, August 28th. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.01. The business had revenue of $263.75 million during the quarter, compared to analyst estimates of $264.38 million. Kanzhun had a return on equity of 10.19% and a net margin of 20.90%. Equities research analysts forecast that Kanzhun Limited will post 0.47 earnings per share for the current year.

Institutional Trading of Kanzhun

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Atlas Capital Advisors LLC acquired a new stake in Kanzhun in the second quarter worth about $25,000. UMB Bank n.a. bought a new position in shares of Kanzhun in the 3rd quarter valued at about $42,000. Summit Securities Group LLC acquired a new stake in shares of Kanzhun during the 2nd quarter worth approximately $44,000. Blue Trust Inc. lifted its holdings in Kanzhun by 21.4% in the second quarter. Blue Trust Inc. now owns 7,638 shares of the company’s stock valued at $134,000 after buying an additional 1,347 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd bought a new position in Kanzhun in the second quarter valued at approximately $204,000. 60.67% of the stock is currently owned by institutional investors and hedge funds.

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.