Kanzhun (NASDAQ:BZ) Downgraded by Sanford C. Bernstein to "Market Perform"

Kanzhun (NASDAQ:BZ - Get Free Report) was downgraded by equities research analysts at Sanford C. Bernstein from an "outperform" rating to a "market perform" rating in a research report issued on Monday, MarketBeat.com reports. They currently have a $15.00 price objective on the stock, down from their previous price objective of $19.00. Sanford C. Bernstein's price target points to a potential downside of 2.22% from the company's current price.

Other research analysts have also recently issued research reports about the stock. CLSA initiated coverage on shares of Kanzhun in a report on Monday, November 18th. They issued an "outperform" rating and a $18.00 target price for the company. Barclays decreased their target price on shares of Kanzhun from $27.00 to $14.00 and set an "overweight" rating on the stock in a research note on Friday, August 30th. Finally, Citigroup dropped their price target on Kanzhun from $17.00 to $16.00 and set a "buy" rating for the company in a research note on Friday, November 29th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $21.00.

Kanzhun Stock Performance

Shares of NASDAQ BZ traded up $1.42 during midday trading on Monday, reaching $15.34. The company's stock had a trading volume of 4,655,778 shares, compared to its average volume of 4,133,247. The business's 50 day moving average price is $14.94 and its two-hundred day moving average price is $15.84. The company has a market cap of $5.82 billion, a P/E ratio of 36.35 and a beta of 0.50. Kanzhun has a fifty-two week low of $10.57 and a fifty-two week high of $22.74.

Hedge Funds Weigh In On Kanzhun

Hedge funds have recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Kanzhun by 812.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,120,232 shares of the company's stock worth $123,607,000 after acquiring an additional 6,339,911 shares during the period. Assenagon Asset Management S.A. purchased a new position in shares of Kanzhun during the 3rd quarter valued at $64,220,000. National Bank of Canada FI purchased a new position in shares of Kanzhun in the third quarter worth about $45,482,000. RWC Asset Advisors US LLC raised its holdings in Kanzhun by 79.8% during the 2nd quarter. RWC Asset Advisors US LLC now owns 5,700,186 shares of the company's stock valued at $107,220,000 after acquiring an additional 2,529,725 shares during the period. Finally, Nomura Asset Management Co. Ltd. raised its stake in shares of Kanzhun by 7,012.9% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,325,929 shares of the company's stock valued at $40,378,000 after purchasing an additional 2,293,229 shares during the period. 60.67% of the stock is owned by hedge funds and other institutional investors.

About Kanzhun

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.