Kanzhun (NASDAQ:BZ) Stock Price Down 3%

Kanzhun Limited (NASDAQ:BZ) was down 3% during trading on Monday . The company traded as low as $19.44 and last traded at $19.49. Approximately 230,619 shares changed hands during trading, a decline of 93% from the average daily volume of 3,362,217 shares. The stock had previously closed at $20.09.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. New Street Research raised shares of Kanzhun from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $17.00 to $25.00 in a report on Wednesday, March 13th. Macquarie raised Kanzhun from a “neutral” rating to an “outperform” rating in a report on Tuesday, March 12th. Barclays increased their target price on shares of Kanzhun from $22.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, March 13th. Finally, TheStreet raised Kanzhun from a “d+” rating to a “c-” rating in a report on Wednesday, March 13th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $20.38.

Kanzhun Trading Down 0.4 %

The stock has a market cap of $7.51 billion, a P/E ratio of 60.88 and a beta of 0.59. The firm’s fifty day moving average is $17.89 and its 200 day moving average is $16.19.

Kanzhun (NASDAQ:BZ) last posted its quarterly earnings results on Tuesday, March 12th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.01. The company had revenue of $222.57 million for the quarter, compared to analyst estimates of $215.66 million. Kanzhun had a net margin of 18.28% and a return on equity of 8.44%. Research analysts forecast that Kanzhun Limited will post 0.42 earnings per share for the current fiscal year.

Institutional Trading of Kanzhun

Institutional investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. boosted its position in Kanzhun by 32.0% in the third quarter. PNC Financial Services Group Inc. now owns 3,670 shares of the company’s stock valued at $56,000 after buying an additional 890 shares in the last quarter. Schwab Charitable Fund acquired a new position in Kanzhun in the fourth quarter valued at about $182,000. Aigen Investment Management LP acquired a new position in Kanzhun in the third quarter valued at about $182,000. DNB Asset Management AS bought a new position in shares of Kanzhun in the fourth quarter worth about $207,000. Finally, Deltec Asset Management LLC bought a new position in shares of Kanzhun in the third quarter worth about $198,000. 60.67% of the stock is currently owned by institutional investors and hedge funds.

About Kanzhun

Kanzhun Limited engages in the provision of online recruitment solutions in the People's Republic of China. The company offers its recruitment solutions through a mobile app under the BOSS Zhipin brand name. Its recruitment platform assists the recruitment process between job seekers and employers for enterprises, and corporations.