Analysts Set Kanzhun Limited (NASDAQ:BZ) Target Price at $20.38

Kanzhun Limited (NASDAQ:BZ) has received an average recommendation of “Moderate Buy” from the eight brokerages that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $20.38.

A number of brokerages have weighed in on BZ. Barclays boosted their price target on Kanzhun from $22.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 13th. TheStreet upgraded Kanzhun from a “d+” rating to a “c-” rating in a report on Wednesday, March 13th. New Street Research upgraded shares of Kanzhun from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $17.00 to $25.00 in a research note on Wednesday, March 13th. Finally, Macquarie upgraded shares of Kanzhun from a “neutral” rating to an “outperform” rating in a research note on Tuesday, March 12th.

Kanzhun Stock Up 2.5 %

BZ stock opened at $18.28 on Friday. The company has a 50 day moving average of $17.52 and a two-hundred day moving average of $16.10. The company has a market cap of $6.86 billion, a price-to-earnings ratio of 55.40 and a beta of 0.59. Kanzhun has a 12-month low of $12.57 and a 12-month high of $21.32.

Kanzhun (NASDAQ:BZ) last issued its earnings results on Tuesday, March 12th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.01. The company had revenue of $222.57 million for the quarter, compared to analyst estimates of $215.66 million. Kanzhun had a return on equity of 8.44% and a net margin of 18.28%. On average, research analysts anticipate that Kanzhun will post 0.42 EPS for the current year.

Hedge Funds Weigh In On Kanzhun

Hedge funds have recently modified their holdings of the stock. Nordea Investment Management AB bought a new stake in Kanzhun during the fourth quarter worth about $4,311,000. Vanguard Group Inc. increased its holdings in Kanzhun by 1.7% during the 3rd quarter. Vanguard Group Inc. now owns 12,615,432 shares of the company’s stock valued at $191,376,000 after purchasing an additional 216,558 shares in the last quarter. Bamco Inc. NY raised its position in Kanzhun by 23.5% in the 3rd quarter. Bamco Inc. NY now owns 3,050,770 shares of the company’s stock valued at $46,280,000 after purchasing an additional 581,094 shares during the last quarter. Swiss National Bank boosted its stake in Kanzhun by 25.8% in the third quarter. Swiss National Bank now owns 515,527 shares of the company’s stock worth $7,821,000 after purchasing an additional 105,600 shares in the last quarter. Finally, California Public Employees Retirement System boosted its stake in Kanzhun by 3.0% in the third quarter. California Public Employees Retirement System now owns 576,446 shares of the company’s stock worth $8,745,000 after purchasing an additional 17,032 shares in the last quarter. 60.67% of the stock is owned by institutional investors and hedge funds.

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.