Kanzhun (NASDAQ:BZ) Sees Large Volume Increase – What’s Next?

Kanzhun Limited (NASDAQ:BZ) shares saw an uptick in trading volume on Tuesday . 2,415,620 shares were traded during 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.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Barclays upped their price objective on Kanzhun from $14.00 to $16.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. Citigroup cut their price objective on Kanzhun from $17.00 to $16.00 and set a “buy” rating for the company in a report on Friday, November 29th. Sanford C. Bernstein downgraded shares of Kanzhun from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $19.00 to $15.00 in a report on Monday, December 9th. Finally, CLSA began coverage on shares of Kanzhun in a research note on Monday, November 18th. They set an “outperform” rating and a $18.00 price objective on the stock. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Kanzhun currently has an average rating of “Moderate Buy” and an average price target of $21.00.

Kanzhun Stock 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 firm has a 50 day simple moving average of $13.77 and a two-hundred day simple moving average of $14.58.

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

Institutional Trading of Kanzhun

A number of large investors have recently modified their holdings of BZ. Assenagon Asset Management S.A. lifted its stake 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 purchasing an additional 78,697 shares during the last quarter. Nordea Investment Management AB grew its holdings in Kanzhun by 13.8% in the 4th quarter. Nordea Investment Management AB now owns 282,510 shares of the company’s stock worth $3,928,000 after acquiring an additional 34,284 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Kanzhun by 12.8% in the third quarter. Franklin Resources Inc. now owns 136,728 shares of the company’s stock valued at $2,201,000 after acquiring an additional 15,497 shares during the period. Tidal Investments LLC purchased a new stake in shares of Kanzhun during the third quarter worth about $662,000. Finally, Geode Capital Management LLC grew its stake in shares of Kanzhun by 3.3% in the third quarter. Geode Capital Management LLC now owns 1,822,128 shares of the company’s stock worth $31,404,000 after purchasing an additional 58,065 shares during the last quarter. Institutional investors own 60.67% of the company’s stock.

Kanzhun Company Profile

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.