Kanzhun (NASDAQ:BZ) Downgraded by Daiwa Capital Markets

Daiwa Capital Markets lowered shares of Kanzhun (NASDAQ:BZ) from a buy rating to a neutral rating in a research report sent to investors on Thursday morning, Marketbeat.com reports.

Other equities analysts have also issued reports about the stock. JPMorgan Chase & Co. boosted their target price on shares of Kanzhun from $23.00 to $24.50 and gave the company an overweight rating in a report on Wednesday, May 22nd. UBS Group boosted their target price on shares of Kanzhun from $22.00 to $23.50 and gave the company a neutral rating in a report on Wednesday, May 22nd. Finally, HSBC started coverage on shares of Kanzhun in a report on Friday, May 24th. They issued a buy rating and a $30.00 target price on the stock. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $23.71.

Kanzhun Stock Down 0.1 %

Shares of NASDAQ BZ opened at $13.71 on Thursday. The firm has a market cap of $5.22 billion, a price-to-earnings ratio of 35.15 and a beta of 0.49. Kanzhun has a 52-week low of $12.57 and a 52-week high of $22.74. The company’s 50-day simple moving average is $19.33 and its 200-day simple moving average is $18.00.

Kanzhun (NASDAQ:BZ) last posted its quarterly earnings results on Tuesday, May 21st. The company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.03. The firm had revenue of $235.97 million for the quarter, compared to analyst estimates of $230.09 million. Kanzhun had a net margin of 20.55% and a return on equity of 9.73%. Equities research analysts anticipate that Kanzhun will post 0.5 EPS for the current fiscal year.

Institutional Investors Weigh In On Kanzhun

Several large investors have recently added to or reduced their stakes in BZ. Summit Securities Group LLC purchased a new stake in Kanzhun during the 2nd quarter worth approximately $44,000. Blue Trust Inc. increased its stake in Kanzhun by 21.4% during 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. Schwab Charitable Fund purchased a new stake in Kanzhun during the 4th quarter worth approximately $182,000. DNB Asset Management AS increased its stake in Kanzhun by 21.7% during the 2nd quarter. DNB Asset Management AS now owns 17,544 shares of the company’s stock worth $330,000 after buying an additional 3,123 shares during the period. Finally, Quadrature Capital Ltd purchased a new stake in Kanzhun during the 4th quarter worth approximately $348,000. 60.67% of the stock is owned by hedge funds and other institutional investors.

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.