Kanzhun (NASDAQ:BZ) Shares Gap Down - What's Next?

Kanzhun Limited (NASDAQ:BZ - Get Free Report)'s share price gapped down before the market opened on Tuesday . The stock had previously closed at $18.99, but opened at $17.00. Kanzhun shares last traded at $17.15, with a volume of 554,275 shares changing hands.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on BZ. Daiwa Capital Markets cut shares of Kanzhun from a "buy" rating to a "neutral" rating in a report on Thursday, July 25th. Daiwa America upgraded Kanzhun to a "hold" rating in a research note on Thursday, July 25th. Finally, Barclays reduced their price objective on Kanzhun from $27.00 to $14.00 and set an "overweight" rating for the company in a research report on Friday, August 30th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $23.40.

Kanzhun Price Performance

The company has a 50-day moving average of $13.98 and a two-hundred day moving average of $17.43. The company has a market capitalization of $6.57 billion, a PE ratio of 43.67 and a beta of 0.52.

Kanzhun (NASDAQ:BZ - Get Free Report) last posted its quarterly earnings data on Wednesday, August 28th. The company reported $0.13 earnings per share for the quarter, beating analysts' consensus estimates of $0.12 by $0.01. The firm had revenue of $263.75 million for the quarter, compared to analysts' expectations of $264.38 million. Kanzhun had a return on equity of 10.19% and a net margin of 20.90%. As a group, research analysts anticipate that Kanzhun Limited will post 0.47 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. RWC Asset Advisors US LLC raised its position in shares of Kanzhun by 79.8% during the second quarter. RWC Asset Advisors US LLC now owns 5,700,186 shares of the company's stock valued at $107,220,000 after buying an additional 2,529,725 shares during the last quarter. GGV Capital LLC grew its position in shares of Kanzhun by 350.8% during the first quarter. GGV Capital LLC now owns 2,366,764 shares of the company's stock valued at $41,489,000 after purchasing an additional 1,841,764 shares in the last quarter. AQR Capital Management LLC bought a new stake in shares of Kanzhun in the second quarter worth about $28,705,000. Thornburg Investment Management Inc. purchased a new stake in shares of Kanzhun in the first quarter worth about $25,967,000. Finally, The Manufacturers Life Insurance Company boosted its stake in Kanzhun by 127.6% during the second quarter. The Manufacturers Life Insurance Company now owns 2,579,427 shares of the company's stock valued at $48,519,000 after buying an additional 1,446,033 shares during the last quarter. Hedge funds and other 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.