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

Shares of Kanzhun Limited (NASDAQ:BZ) have earned an average rating of “Moderate Buy” from the eight brokerages that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $20.38.

Several equities research analysts have issued reports on the company. Barclays increased their target price on Kanzhun from $22.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 13th. New Street Research upgraded Kanzhun from a “neutral” rating to a “buy” rating and raised their target price for the stock from $17.00 to $25.00 in a research note on Wednesday, March 13th. Macquarie upgraded Kanzhun from a “neutral” rating to an “outperform” rating in a research report on Tuesday, March 12th. Finally, TheStreet upgraded shares of Kanzhun from a “d+” rating to a “c-” rating in a research report on Wednesday, March 13th.

Kanzhun Stock Performance

Shares of Kanzhun stock opened at $18.28 on Friday. The stock has a market capitalization of $6.86 billion, a P/E ratio of 55.40 and a beta of 0.59. Kanzhun has a 52-week low of $12.57 and a 52-week high of $21.32. The stock’s 50-day simple moving average is $17.52 and its 200 day simple moving average is $16.10.

Kanzhun (NASDAQ:BZ) last posted its quarterly earnings results on Tuesday, March 12th. The company reported $0.10 earnings per share (EPS) for the quarter, beating 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 net margin of 18.28% and a return on equity of 8.44%. Equities research analysts forecast that Kanzhun will post 0.42 EPS for the current fiscal year.

Institutional Investors Weigh In On Kanzhun

Several hedge funds have recently bought and sold shares of the stock. PNC Financial Services Group Inc. grew its position in Kanzhun by 32.0% during the third quarter. PNC Financial Services Group Inc. now owns 3,670 shares of the company’s stock valued at $56,000 after acquiring an additional 890 shares during the last quarter. abrdn plc boosted its position in Kanzhun by 5.6% during the third quarter. abrdn plc now owns 48,536 shares of the company’s stock valued at $736,000 after buying an additional 2,567 shares during the period. DekaBank Deutsche Girozentrale grew its stake in shares of Kanzhun by 9.2% during the third quarter. DekaBank Deutsche Girozentrale now owns 31,301 shares of the company’s stock valued at $457,000 after buying an additional 2,629 shares during the last quarter. Daiwa Securities Group Inc. increased its holdings in shares of Kanzhun by 16.9% in the fourth quarter. Daiwa Securities Group Inc. now owns 23,973 shares of the company’s stock worth $398,000 after buying an additional 3,470 shares during the period. Finally, Prudential PLC lifted its stake in shares of Kanzhun by 12.1% in the 3rd quarter. Prudential PLC now owns 36,027 shares of the company’s stock valued at $547,000 after acquiring an additional 3,876 shares during the last quarter. 60.67% of the stock is currently owned by institutional investors.

About Kanzhun

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.