Kanzhun (NASDAQ:BZ) Stock Price Up 7.2% - Time to Buy?

Kanzhun Limited (NASDAQ:BZ - Get Free Report) traded up 7.2% during mid-day trading on Friday . The stock traded as high as $13.50 and last traded at $13.48. 2,104,303 shares were traded during mid-day trading, a decline of 49% from the average session volume of 4,126,284 shares. The stock had previously closed at $12.58.

Analysts Set New Price Targets

A number of research analysts recently weighed in on BZ shares. Citigroup lowered their price objective on shares of Kanzhun from $17.00 to $16.00 and set a "buy" rating on the stock in a research report on Friday. CLSA started coverage on shares of Kanzhun in a research report on Monday, November 18th. They set an "outperform" rating and a $18.00 price objective on the stock. Finally, Barclays lowered 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 seven have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $21.57.

Kanzhun Price Performance

The company's 50-day simple moving average is $15.06 and its 200 day simple moving average is $16.17. The firm has a market cap of $5.12 billion, a P/E ratio of 31.40 and a beta of 0.55.

Kanzhun (NASDAQ:BZ - Get Free Report) last released its quarterly earnings data on Wednesday, August 28th. The company reported $0.13 EPS for the quarter, beating 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 business had revenue of $263.75 million during the quarter, compared to analyst estimates of $264.38 million. Analysts anticipate that Kanzhun Limited will post 0.47 EPS for the current fiscal year.

Institutional Investors Weigh In On Kanzhun

Several institutional investors have recently made changes to their positions in BZ. Crossmark Global Holdings Inc. increased its stake in 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 buying an additional 759 shares during the period. Atlas Capital Advisors LLC purchased a new position in Kanzhun in the 2nd quarter worth about $25,000. Blue Trust Inc. increased its stake in Kanzhun by 21.4% in the 2nd 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 increased its stake in Kanzhun by 6.6% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 32,066 shares of the company's stock worth $565,000 after buying an additional 1,977 shares during the period. Finally, Summit Securities Group LLC purchased a new position in Kanzhun in the 2nd quarter worth about $44,000. Institutional investors own 60.67% of the company's stock.

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.