Kanzhun (NASDAQ:BZ) Shares Up 6.8% - What's Next?

Kanzhun Limited (NASDAQ:BZ - Get Free Report) was up 6.8% during mid-day trading on Wednesday . The stock traded as high as $15.56 and last traded at $15.70. Approximately 2,190,911 shares traded hands during mid-day trading, a decline of 27% from the average daily volume of 2,998,927 shares. The stock had previously closed at $14.70.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on BZ shares. CLSA started coverage on shares of Kanzhun in a research report on Monday, November 18th. They issued an "outperform" rating and a $18.00 target price on the stock. Barclays lifted their target price on shares of Kanzhun from $14.00 to $16.00 and gave the company an "overweight" rating in a research report on Monday, December 9th. Citigroup dropped their target price on shares of Kanzhun from $17.00 to $16.00 and set a "buy" rating on the stock in a research report on Friday, November 29th. Finally, Sanford C. Bernstein lowered shares of Kanzhun from an "outperform" rating to a "market perform" rating and lowered their price target for the stock from $19.00 to $15.00 in a research report on Monday, December 9th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $21.00.

Kanzhun Stock Performance

The firm's 50 day moving average price is $14.35 and its two-hundred day moving average price is $14.27. The firm has a market cap of $6.28 billion, a PE ratio of 36.65 and a beta of 0.49.

Kanzhun (NASDAQ:BZ - Get Free Report) 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 net margin of 20.65% and a return on equity of 10.31%. On average, analysts forecast that Kanzhun Limited will post 0.46 earnings per share for the current year.

Hedge Funds Weigh In On Kanzhun

Several large investors have recently made changes to their positions in the stock. Crossmark Global Holdings Inc. lifted its holdings in shares of Kanzhun by 5.8% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 13,911 shares of the company's stock worth $241,000 after acquiring an additional 759 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of Kanzhun by 7.7% in the 4th quarter. First Trust Advisors LP now owns 13,927 shares of the company's stock worth $192,000 after acquiring an additional 999 shares during the last quarter. Quadrant Capital Group LLC lifted its holdings in Kanzhun by 403.1% during the 4th quarter. Quadrant Capital Group LLC now owns 1,781 shares of the company's stock worth $25,000 after buying an additional 1,427 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in Kanzhun by 107.5% during 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 in the last quarter. Finally, Swiss National Bank lifted its holdings in Kanzhun by 0.3% during the 4th quarter. Swiss National Bank now owns 600,966 shares of the company's stock worth $8,293,000 after buying an additional 1,900 shares in 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.