CLSA Initiates Coverage on Kanzhun (NASDAQ:BZ)

CLSA assumed coverage on shares of Kanzhun (NASDAQ:BZ) in a report released on Monday morning, MarketBeat reports. The firm issued an outperform rating and a $18.00 price objective on the stock.

Several other brokerages have also recently issued reports on BZ. Daiwa Capital Markets cut Kanzhun from a “buy” rating to a “neutral” rating in a research note on Thursday, July 25th. Daiwa America raised Kanzhun to a “hold” rating in a research report on Thursday, July 25th. Finally, Barclays dropped their target price on Kanzhun from $27.00 to $14.00 and set an “overweight” rating on the stock in a research report on Friday, August 30th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.50.

Kanzhun Trading Up 2.5 %

NASDAQ:BZ opened at $13.78 on Monday. The company has a market capitalization of $5.25 billion, a P/E ratio of 32.05 and a beta of 0.55. Kanzhun has a 12 month low of $10.57 and a 12 month high of $22.74. The business’s 50-day moving average is $14.92 and its 200 day moving average is $16.67.

Kanzhun (NASDAQ:BZ) last posted its earnings results on Wednesday, August 28th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.01. Kanzhun had a return on equity of 10.19% and a net margin of 20.90%. The company had revenue of $263.75 million for the quarter, compared to the consensus estimate of $264.38 million. On average, research analysts forecast that Kanzhun will post 0.47 earnings per share for the current year.

Hedge Funds Weigh In On Kanzhun

A number of institutional investors have recently bought and sold shares of the business. Crossmark Global Holdings Inc. increased its holdings in shares of Kanzhun by 5.8% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 13,911 shares of the company’s stock valued at $241,000 after purchasing an additional 759 shares in the last quarter. Atlas Capital Advisors LLC acquired a new stake in Kanzhun in the 2nd quarter valued at $25,000. Blue Trust Inc. grew its stake in Kanzhun by 21.4% in the 2nd quarter. Blue Trust Inc. now owns 7,638 shares of the company’s stock valued at $134,000 after acquiring an additional 1,347 shares during the period. DekaBank Deutsche Girozentrale grew its stake in Kanzhun by 6.6% in the 1st 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. Finally, Summit Securities Group LLC acquired a new stake in Kanzhun in the 2nd quarter valued at $44,000. 60.67% of the stock is owned by hedge funds and other institutional investors.

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.