Kanzhun (NASDAQ:BZ) Coverage Initiated by Analysts at HSBC

HSBC began coverage on shares of Kanzhun (NASDAQ:BZ) in a report published on Friday morning, MarketBeat.com reports. The firm issued a buy rating and a $30.00 price objective on the stock.

BZ has been the topic of a number of other reports. TheStreet raised Kanzhun from a d+ rating to a c- rating in a research report on Wednesday, March 13th. Barclays raised their price target on shares of Kanzhun from $22.00 to $27.00 and gave the stock an overweight rating in a research note on Wednesday, March 13th. New Street Research upgraded shares of Kanzhun from a neutral rating to a buy rating and raised their price target for the stock from $17.00 to $25.00 in a research note on Wednesday, March 13th. UBS Group lifted their target price on shares of Kanzhun from $22.00 to $23.50 and gave the company a neutral rating in a research note on Wednesday. Finally, Macquarie upgraded shares of Kanzhun from a neutral rating to an outperform rating in a research note on Tuesday, March 12th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $22.67.

Kanzhun Stock Down 1.1 %

Shares of NASDAQ BZ opened at $21.21 on Friday. Kanzhun has a 52-week low of $12.57 and a 52-week high of $22.74. The stock’s 50 day moving average price is $19.62 and its two-hundred day moving average price is $16.98. The stock has a market capitalization of $7.96 billion, a P/E ratio of 54.38 and a beta of 0.50.

Kanzhun (NASDAQ:BZ) last posted its earnings results on Tuesday, March 12th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.09 by $0.01. The firm had revenue of $222.57 million for the quarter, compared to the consensus estimate of $215.66 million. Kanzhun had a net margin of 20.55% and a return on equity of 9.73%. On average, analysts anticipate that Kanzhun will post 0.48 EPS for the current year.

Institutional Investors Weigh In On Kanzhun

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Kanzhun by 1.6% during the first 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 period. Brilliance Asset Management Ltd. increased its holdings in shares of Kanzhun by 1.5% during the fourth quarter. Brilliance Asset Management Ltd. now owns 10,101,933 shares of the company’s stock worth $167,793,000 after purchasing an additional 153,010 shares during the period. Wellington Management Group LLP increased 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 worth $115,874,000 after purchasing an additional 1,247,997 shares during the period. Norges Bank bought a new position in shares of Kanzhun during the fourth quarter worth approximately $98,023,000. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Kanzhun by 21.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 4,978,186 shares of the company’s stock worth $82,688,000 after purchasing an additional 877,342 shares during the period. 60.67% of the stock is currently owned by institutional investors and hedge funds.

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.