Kanzhun (NASDAQ:BZ) Shares Gap Down – Should You Sell?

by · The Markets Daily

Kanzhun Limited (NASDAQ:BZ – Get Free Report)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $13.89, but opened at $13.57. Kanzhun shares last traded at $13.43, with a volume of 228,666 shares changing hands.

Wall Street Analysts Forecast Growth

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

Get Our Latest Stock Analysis on Kanzhun

Kanzhun Price Performance

The firm has a 50-day simple moving average of $14.88 and a 200 day simple moving average of $16.78. The company has a market capitalization of $5.14 billion, a PE ratio of 32.30 and a beta of 0.55.

Kanzhun (NASDAQ:BZ – Get Free Report) last released its quarterly earnings results on Wednesday, August 28th. The company reported $0.13 EPS for the quarter, topping the consensus estimate 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 net margin of 20.90% and a return on equity of 10.19%. Equities research analysts expect that Kanzhun Limited will post 0.47 EPS for the current fiscal year.

Hedge Funds Weigh In On Kanzhun

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Northwest & Ethical Investments L.P. acquired a new stake in shares of Kanzhun during the third quarter worth approximately $590,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Kanzhun by 812.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,120,232 shares of the company’s stock worth $123,607,000 after purchasing an additional 6,339,911 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Kanzhun by 18.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 208,964 shares of the company’s stock valued at $3,628,000 after buying an additional 32,806 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Kanzhun by 83.2% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,585,700 shares of the company’s stock valued at $44,888,000 after buying an additional 1,174,000 shares during the period. Finally, Tekne Capital Management LLC raised its position in shares of Kanzhun by 16.0% during the third quarter. Tekne Capital Management LLC now owns 3,482,903 shares of the company’s stock worth $60,463,000 after purchasing an additional 480,083 shares during the period. Institutional investors and hedge funds own 60.67% of the company’s stock.

Kanzhun Company Profile

(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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