Kanzhun (NASDAQ:BZ) Stock Price Down 4.7% – Here’s What Happened

Kanzhun Limited (NASDAQ:BZ) shares traded down 4.7% during trading on Tuesday . The company traded as low as $15.77 and last traded at $15.72. 1,861,268 shares were traded during trading, a decline of 43% from the average session volume of 3,254,118 shares. The stock had previously closed at $16.49.

Analysts Set New Price Targets

Several research analysts have weighed in on BZ shares. Barclays boosted their price objective on Kanzhun from $14.00 to $16.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. Citigroup cut their price target on shares of Kanzhun from $17.00 to $16.00 and set a “buy” rating on the stock in a report on Friday, November 29th. CLSA began coverage on shares of Kanzhun in a report on Monday, November 18th. They set an “outperform” rating and a $18.00 price objective for the company. Finally, Sanford C. Bernstein cut shares of Kanzhun from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $19.00 to $15.00 in a research note on Monday, December 9th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $21.00.

Kanzhun Stock Performance

The firm has a 50 day simple moving average of $14.44 and a 200 day simple moving average of $14.32. The firm has a market cap of $5.96 billion, a P/E ratio of 34.76 and a beta of 0.49.

Kanzhun (NASDAQ:BZ) last issued its quarterly earnings data on Wednesday, December 11th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.13 by $0.02. Kanzhun had a net margin of 20.65% and a return on equity of 10.31%. Sell-side analysts predict that Kanzhun Limited will post 0.46 EPS for the current fiscal year.

Institutional Trading of Kanzhun

Several institutional investors and hedge funds have recently modified their holdings of BZ. Crossmark Global Holdings Inc. raised its position in Kanzhun by 5.8% during the third quarter. Crossmark Global Holdings Inc. now owns 13,911 shares of the company’s stock valued at $241,000 after purchasing an additional 759 shares in the last quarter. First Trust Advisors LP raised its holdings in shares of Kanzhun by 7.7% during the 4th quarter. First Trust Advisors LP now owns 13,927 shares of the company’s stock valued at $192,000 after buying an additional 999 shares in the last quarter. Quadrant Capital Group LLC lifted its position in Kanzhun by 403.1% in the 4th quarter. Quadrant Capital Group LLC now owns 1,781 shares of the company’s stock worth $25,000 after buying an additional 1,427 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in Kanzhun by 107.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,976 shares of the company’s stock worth $41,000 after buying an additional 1,542 shares in the last quarter. Finally, Swiss National Bank grew its position in Kanzhun by 0.3% during the fourth quarter. Swiss National Bank now owns 600,966 shares of the company’s stock valued at $8,293,000 after acquiring an additional 1,900 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.