Kanzhun (NASDAQ:BZ) Shares Gap Down to $19.51

Kanzhun Limited (NASDAQ:BZ)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $19.51, but opened at $19.06. Kanzhun shares last traded at $18.98, with a volume of 105,614 shares.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. HSBC assumed coverage on Kanzhun in a research report on Friday, May 24th. They issued a “buy” rating and a $30.00 target price for the company. TheStreet raised Kanzhun from a “d+” rating to a “c-” rating in a research note on Wednesday, March 13th. Macquarie raised Kanzhun from a “neutral” rating to an “outperform” rating in a research note on Tuesday, March 12th. New Street Research raised Kanzhun from a “neutral” rating to a “buy” rating and increased their target price for the stock from $17.00 to $25.00 in a research note on Wednesday, March 13th. Finally, Barclays upped their price target on Kanzhun from $22.00 to $27.00 and gave the stock an “overweight” rating in a report on Wednesday, March 13th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $22.67.

Kanzhun Price Performance

The company has a market capitalization of $7.19 billion, a price-to-earnings ratio of 50.03 and a beta of 0.53. The stock’s fifty day simple moving average is $20.54 and its two-hundred day simple moving average is $17.73.

Kanzhun (NASDAQ:BZ) last released its quarterly earnings results on Tuesday, May 21st. The company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.04 by $0.03. The business had revenue of $235.97 million during the quarter, compared to analyst estimates of $230.09 million. Kanzhun had a net margin of 20.55% and a return on equity of 9.73%. On average, sell-side analysts predict that Kanzhun Limited will post 0.52 EPS for the current year.

Hedge Funds Weigh In On Kanzhun

A number of hedge funds and other institutional investors have recently modified their holdings of BZ. PNC Financial Services Group Inc. boosted its holdings in Kanzhun by 32.0% in the third quarter. PNC Financial Services Group Inc. now owns 3,670 shares of the company’s stock worth $56,000 after purchasing an additional 890 shares in the last quarter. DekaBank Deutsche Girozentrale increased its stake in Kanzhun by 6.6% during the first quarter. DekaBank Deutsche Girozentrale now owns 32,066 shares of the company’s stock valued at $565,000 after acquiring an additional 1,977 shares during the period. Daiwa Securities Group Inc. grew its stake in shares of Kanzhun by 16.9% in the 4th quarter. Daiwa Securities Group Inc. now owns 23,973 shares of the company’s stock valued at $398,000 after purchasing an additional 3,470 shares during the period. Swiss National Bank grew its stake in shares of Kanzhun by 0.9% in the 1st quarter. Swiss National Bank now owns 478,427 shares of the company’s stock valued at $8,387,000 after purchasing an additional 4,400 shares during the period. Finally, Royal London Asset Management Ltd. grew its stake in shares of Kanzhun by 1.6% in the 4th quarter. Royal London Asset Management Ltd. now owns 342,900 shares of the company’s stock valued at $5,696,000 after purchasing an additional 5,300 shares during the period. Institutional investors and hedge funds 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.