Kanzhun (NASDAQ:BZ) Coverage Initiated at CLSA

CLSA initiated coverage on shares of Kanzhun (NASDAQ:BZ - Free Report) in a research note released on Monday morning, Marketbeat Ratings reports. The brokerage issued an outperform rating and a $18.00 price objective on the stock.

A number of other research firms have also issued reports on BZ. Daiwa Capital Markets lowered Kanzhun from a "buy" rating to a "neutral" rating in a research report on Thursday, July 25th. Daiwa America upgraded shares of Kanzhun to a "hold" rating in a research note on Thursday, July 25th. Finally, Barclays dropped their price objective on shares of Kanzhun from $27.00 to $14.00 and set an "overweight" rating on the stock in a research report on Friday, August 30th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Kanzhun presently has an average rating of "Moderate Buy" and a consensus price target of $22.50.

Kanzhun Stock Up 2.5 %

NASDAQ:BZ traded up $0.34 on Monday, reaching $13.78. The company's stock had a trading volume of 3,155,363 shares, compared to its average volume of 4,103,999. Kanzhun has a 12-month low of $10.57 and a 12-month high of $22.74. The stock has a 50 day moving average price of $14.92 and a 200 day moving average price of $16.67. The firm has a market cap of $5.25 billion, a price-to-earnings ratio of 31.26 and a beta of 0.55.

Kanzhun (NASDAQ:BZ - Get Free Report) last issued its quarterly earnings data on Wednesday, August 28th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.12 by $0.01. Kanzhun had a net margin of 20.90% and a return on equity of 10.19%. The firm had revenue of $263.75 million for the quarter, compared to analyst estimates of $264.38 million. Equities research analysts expect that Kanzhun will post 0.47 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in BZ. Crossmark Global Holdings Inc. lifted its holdings in Kanzhun by 5.8% in the third quarter. Crossmark Global Holdings Inc. now owns 13,911 shares of the company's stock valued at $241,000 after acquiring an additional 759 shares during the period. Atlas Capital Advisors LLC purchased a new stake in Kanzhun during the second quarter worth about $25,000. Blue Trust Inc. grew its position in Kanzhun by 21.4% during the second quarter. Blue Trust Inc. now owns 7,638 shares of the company's stock worth $134,000 after buying an additional 1,347 shares during the period. DekaBank Deutsche Girozentrale lifted its position in shares of Kanzhun by 6.6% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 32,066 shares of the company's stock valued at $565,000 after acquiring an additional 1,977 shares during the period. Finally, Summit Securities Group LLC acquired a new stake in shares of Kanzhun during the 2nd quarter valued at approximately $44,000. 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.