UBS Group Raises Kanzhun (NASDAQ:BZ) Price Target to $23.50

Kanzhun (NASDAQ:BZ) had its price target hoisted by UBS Group from $22.00 to $23.50 in a research report released on Wednesday, Benzinga reports. UBS Group currently has a neutral rating on the stock.

Other equities analysts also recently issued research reports about the stock. Barclays increased their price target on shares of Kanzhun from $22.00 to $27.00 and gave the stock an overweight rating in a report on Wednesday, March 13th. Macquarie upgraded Kanzhun from a neutral rating to an outperform rating in a report on Tuesday, March 12th. TheStreet raised Kanzhun from a d+ rating to a c- rating in a research report on Wednesday, March 13th. JPMorgan Chase & Co. raised their price objective on Kanzhun from $23.00 to $24.50 and gave the stock an overweight rating in a research report on Wednesday. Finally, New Street Research raised Kanzhun from a neutral rating to a buy rating and lifted their target price for the company from $17.00 to $25.00 in a research report on Wednesday, March 13th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $22.67.

Kanzhun Price Performance

Kanzhun stock opened at $21.21 on Wednesday. The stock has a market cap of $7.96 billion, a P/E ratio of 54.38 and a beta of 0.50. Kanzhun has a 1 year low of $12.57 and a 1 year high of $22.74. The firm’s 50 day moving average price is $19.58 and its 200-day moving average price is $16.94.

Kanzhun (NASDAQ:BZ) last released its quarterly earnings results on Tuesday, March 12th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Kanzhun had a net margin of 20.55% and a return on equity of 9.73%. The company had revenue of $222.57 million for the quarter, compared to the consensus estimate of $215.66 million. As a group, equities analysts expect that Kanzhun will post 0.48 EPS for the current year.

Institutional Investors Weigh In On Kanzhun

A number of hedge funds have recently bought and sold shares of BZ. Vanguard Group Inc. lifted its holdings in shares of Kanzhun by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 12,875,675 shares of the company’s stock worth $225,711,000 after purchasing an additional 203,594 shares during the last quarter. Brilliance Asset Management Ltd. grew its holdings in shares of Kanzhun by 1.5% in the 4th quarter. Brilliance Asset Management Ltd. now owns 10,101,933 shares of the company’s stock worth $167,793,000 after acquiring an additional 153,010 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Kanzhun by 21.8% during the fourth quarter. Wellington Management Group LLP now owns 6,976,129 shares of the company’s stock valued at $115,874,000 after buying an additional 1,247,997 shares in the last quarter. Norges Bank purchased a new position in shares of Kanzhun during the fourth quarter valued at $98,023,000. Finally, Goldman Sachs Group Inc. boosted its position in Kanzhun by 21.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 4,978,186 shares of the company’s stock valued at $82,688,000 after purchasing an additional 877,342 shares during the last quarter. Institutional investors and hedge funds own 60.67% of the company’s stock.

Kanzhun Company Profile

Kanzhun Limited engages in the provision of online recruitment solutions in the People's Republic of China. The company offers its recruitment solutions through a mobile app under the BOSS Zhipin brand name. Its recruitment platform assists the recruitment process between job seekers and employers for enterprises, and corporations.