Kanzhun (NASDAQ:BZ) Trading Down 4% – What’s Next?

Kanzhun Limited (NASDAQ:BZ) shares traded down 4% on Friday . The stock traded as low as $14.71 and last traded at $14.76. 269,863 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 2,795,829 shares. The stock had previously closed at $15.37.

Analyst Ratings Changes

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

Kanzhun Stock Down 5.7 %

The firm has a market capitalization of $5.52 billion, a PE ratio of 32.21 and a beta of 0.49. The stock has a 50-day moving average price of $13.85 and a 200 day moving average price of $14.27.

Kanzhun (NASDAQ:BZ) last issued its earnings results on Wednesday, December 11th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.02. Kanzhun had a net margin of 20.65% and a return on equity of 10.31%. As a group, equities analysts predict that Kanzhun Limited will post 0.46 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Kanzhun

A number of institutional investors and hedge funds have recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Kanzhun by 812.5% during the 3rd 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 acquiring an additional 6,339,911 shares in the last quarter. State Street Corp boosted its holdings in Kanzhun by 2.8% in the third quarter. State Street Corp now owns 5,084,631 shares of the company’s stock valued at $88,269,000 after purchasing an additional 138,804 shares in the last quarter. Assenagon Asset Management S.A. increased 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 valued at $52,136,000 after purchasing an additional 78,697 shares during the last quarter. Tekne Capital Management LLC raised its stake in Kanzhun by 16.0% during the 3rd quarter. Tekne Capital Management LLC now owns 3,482,903 shares of the company’s stock worth $60,463,000 after acquiring an additional 480,083 shares in the last quarter. Finally, Jennison Associates LLC lifted its position in Kanzhun by 79.7% in the fourth quarter. Jennison Associates LLC now owns 3,329,853 shares of the company’s stock valued at $45,952,000 after acquiring an additional 1,476,693 shares during the last quarter. Institutional investors and hedge funds own 60.67% of the company’s stock.

About Kanzhun

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.