Kanzhun (NASDAQ:BZ) Stock Price Up 7.2% – Time to Buy?

Kanzhun Limited (NASDAQ:BZ)’s share price rose 7.2% during trading on Friday . The stock traded as high as $13.50 and last traded at $13.48. Approximately 2,104,303 shares traded 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.

Analyst Upgrades and Downgrades

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

Kanzhun Stock Performance

The stock has a 50-day simple moving average of $15.05 and a two-hundred day simple moving average of $16.26. The firm has a market cap of $5.12 billion, a PE ratio of 31.35 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 for the quarter, topping analysts’ consensus estimates of $0.12 by $0.01. Kanzhun had a return on equity of 10.19% and a net margin of 20.90%. The business had revenue of $263.75 million during the quarter, compared to analyst estimates of $264.38 million. As a group, sell-side analysts anticipate that Kanzhun Limited will post 0.47 EPS for the current fiscal year.

Institutional Investors Weigh In On Kanzhun

Large investors have recently made changes to their positions in the company. Swedbank AB bought a new stake in shares of Kanzhun during the 1st quarter valued at about $861,000. Monolith Management Ltd bought a new position in shares of Kanzhun during the 3rd quarter valued at approximately $4,340,000. WCM Investment Management LLC grew its stake in shares of Kanzhun by 109.3% during the 3rd quarter. WCM Investment Management LLC now owns 3,157,794 shares of the company’s stock valued at $54,251,000 after acquiring an additional 1,649,411 shares during the period. Deltec Asset Management LLC bought a new position in shares of Kanzhun during the 2nd quarter valued at approximately $934,000. Finally, DekaBank Deutsche Girozentrale grew its stake in shares of Kanzhun by 128.9% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 73,408 shares of the company’s stock valued at $1,377,000 after acquiring an additional 41,342 shares during the period. 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.