Kanzhun (NASDAQ:BZ) Coverage Initiated at CLSA

Stock analysts at CLSA initiated coverage on shares of Kanzhun (NASDAQ:BZ) in a report released on Monday,Briefing.com Automated Import reports. The brokerage set an “outperform” rating and a $18.00 price target on the stock. CLSA’s price target suggests a potential upside of 33.93% from the stock’s previous close.

Several other research firms have also recently weighed in on BZ. Daiwa America raised shares of Kanzhun to a “hold” rating in a report on Thursday, July 25th. Daiwa Capital Markets cut Kanzhun from a “buy” rating to a “neutral” rating in a research report on Thursday, July 25th. 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 note on Friday, August 30th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $22.50.

Kanzhun Stock Performance

Shares of NASDAQ BZ opened at $13.44 on Monday. The company has a 50 day simple moving average of $14.92 and a two-hundred day simple moving average of $16.69. Kanzhun has a fifty-two week low of $10.57 and a fifty-two week high of $22.74. The company has a market capitalization of $5.12 billion, a price-to-earnings ratio of 31.26 and a beta of 0.55.

Kanzhun (NASDAQ:BZ) last released its earnings results on Wednesday, August 28th. The company reported $0.13 EPS for the quarter, topping 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%. On average, analysts forecast that Kanzhun will post 0.47 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Kanzhun

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