JPMorgan Chase & Co. Boosts Kanzhun (NASDAQ:BZ) Price Target to $24.50

Kanzhun (NASDAQ:BZ) had its target price raised by JPMorgan Chase & Co. from $23.00 to $24.50 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have an overweight rating on the stock.

Several other research analysts have also issued reports on the company. Barclays boosted their target price on Kanzhun from $22.00 to $27.00 and gave the company an overweight rating in a research report on Wednesday, March 13th. TheStreet upgraded Kanzhun from a d+ rating to a c- rating in a research report on Wednesday, March 13th. Macquarie upgraded Kanzhun from a neutral rating to an outperform rating in a report on Tuesday, March 12th. Finally, New Street Research upgraded Kanzhun from a neutral rating to a buy rating and boosted their price target for the company from $17.00 to $25.00 in a report on Wednesday, March 13th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Kanzhun has a consensus rating of Moderate Buy and a consensus target price of $22.67.

Kanzhun Trading Down 1.1 %

Shares of BZ stock opened at $21.21 on Wednesday. Kanzhun has a 12-month low of $12.57 and a 12-month high of $22.74. The stock’s 50-day moving average price is $19.58 and its 200-day moving average price is $16.94. The stock has a market capitalization of $7.96 billion, a price-to-earnings ratio of 54.38 and a beta of 0.50.

Kanzhun (NASDAQ:BZ) last issued its quarterly earnings data on Tuesday, March 12th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.01. Kanzhun had a return on equity of 9.73% and a net margin of 20.55%. The company had revenue of $222.57 million for the quarter, compared to analysts’ expectations of $215.66 million. As a group, research analysts predict that Kanzhun will post 0.48 EPS for the current fiscal year.

Institutional Investors Weigh In On Kanzhun

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. raised 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 purchasing an additional 890 shares during the period. Schwab Charitable Fund purchased a new stake in Kanzhun in the fourth quarter valued at $182,000. Aigen Investment Management LP purchased a new stake in Kanzhun in the third quarter valued at $182,000. DNB Asset Management AS purchased a new stake in shares of Kanzhun in the 4th quarter valued at $207,000. Finally, Quadrature Capital Ltd purchased a new stake in shares of Kanzhun in the 4th quarter valued at $348,000. Hedge funds and other institutional investors own 60.67% of the company’s stock.

Kanzhun Company Profile

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.