Barclays Raises Kanzhun (NASDAQ:BZ) Price Target to $22.00

Kanzhun (NASDAQ:BZ) had its price target raised by equities researchers at Barclays from $16.00 to $22.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price objective would indicate a potential upside of 17.07% from the company’s previous close.

Several other brokerages also recently weighed in on BZ. Citigroup cut their price target on shares of Kanzhun from $17.00 to $16.00 and set a “buy” rating on the stock in a report on Friday, November 29th. CLSA began coverage on shares of Kanzhun in a report on Monday, November 18th. They set an “outperform” rating and a $18.00 target price for the company. Finally, Sanford C. Bernstein restated a “market perform” rating on shares of Kanzhun in a research report on Wednesday. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $21.75.

Kanzhun Stock Up 0.7 %

Shares of BZ traded up $0.12 during trading hours on Thursday, reaching $18.79. 1,135,457 shares of the company traded hands, compared to its average volume of 4,057,096. The business has a fifty day moving average price of $15.24 and a 200-day moving average price of $14.58. Kanzhun has a 12-month low of $10.57 and a 12-month high of $22.74. The stock has a market capitalization of $7.16 billion, a P/E ratio of 41.73 and a beta of 0.46.

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

Institutional Investors Weigh In On Kanzhun

Institutional investors have recently modified their holdings of the business. Crossmark Global Holdings Inc. lifted its position 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 buying an additional 759 shares in the last quarter. First Trust Advisors LP increased its stake in shares of Kanzhun by 7.7% during the fourth quarter. First Trust Advisors LP now owns 13,927 shares of the company’s stock worth $192,000 after purchasing an additional 999 shares in the last quarter. Quadrant Capital Group LLC lifted its stake in Kanzhun by 403.1% in the 4th quarter. Quadrant Capital Group LLC now owns 1,781 shares of the company’s stock valued at $25,000 after buying an additional 1,427 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in Kanzhun by 107.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,976 shares of the company’s stock worth $41,000 after buying an additional 1,542 shares during the last quarter. Finally, Swiss National Bank raised its holdings in shares of Kanzhun by 0.3% during the fourth quarter. Swiss National Bank now owns 600,966 shares of the company’s stock valued at $8,293,000 after acquiring an additional 1,900 shares during the last quarter. 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.