Kanzhun (NASDAQ:BZ) Shares Gap Up – Still a Buy?

by · The Cerbat Gem

Kanzhun Limited (NASDAQ:BZ – Get Free Report)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $17.41, but opened at $19.05. Kanzhun shares last traded at $17.91, with a volume of 1,272,006 shares.

Analyst Ratings Changes

A number of brokerages have recently commented on BZ. CLSA initiated coverage on shares of Kanzhun in a research report on Monday, November 18th. They issued an “outperform” rating and a $18.00 price objective for the company. Barclays lifted their target price on Kanzhun from $14.00 to $16.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Sanford C. Bernstein cut Kanzhun from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $19.00 to $15.00 in a research note on Monday, December 9th. Finally, Citigroup decreased their price objective on shares of Kanzhun from $17.00 to $16.00 and set a “buy” rating on the stock in a report on Friday, November 29th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $21.00.

View Our Latest Analysis on Kanzhun

Kanzhun Stock Up 2.8 %

The business’s 50 day simple moving average is $15.06 and its 200-day simple moving average is $14.53. The stock has a market capitalization of $6.82 billion, a price-to-earnings ratio of 39.79 and a beta of 0.46.

Kanzhun (NASDAQ:BZ – Get Free Report) last issued its earnings results on Tuesday, March 11th. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.07). Kanzhun had a net margin of 20.65% and a return on equity of 10.31%. On average, analysts expect that Kanzhun Limited will post 0.46 earnings per share for the current year.

Institutional Trading of Kanzhun

A number of hedge funds have recently added to or reduced their stakes in BZ. Van ECK Associates Corp bought a new stake in shares of Kanzhun during the third quarter worth about $61,000. Crossmark Global Holdings Inc. grew its holdings in Kanzhun by 5.8% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 13,911 shares of the company’s stock worth $241,000 after acquiring an additional 759 shares during the last quarter. State of New Jersey Common Pension Fund D increased its position in Kanzhun by 6.1% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 209,950 shares of the company’s stock valued at $3,645,000 after acquiring an additional 11,978 shares during the period. WCM Investment Management LLC lifted its holdings in shares of Kanzhun by 109.3% during the third quarter. WCM Investment Management LLC now owns 3,157,794 shares of the company’s stock worth $54,251,000 after purchasing an additional 1,649,411 shares during the period. Finally, GSA Capital Partners LLP lifted its holdings in Kanzhun by 4.7% during the 3rd quarter. GSA Capital Partners LLP now owns 64,978 shares of the company’s stock worth $1,128,000 after buying an additional 2,919 shares during the period. Institutional investors and hedge funds own 60.67% of the company’s stock.

About Kanzhun

(Get Free Report)

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.

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