Kanzhun (NASDAQ:BZ) Stock Price Down 6.3% – Time to Sell?

Kanzhun Limited (NASDAQ:BZ) traded down 6.3% during mid-day trading on Tuesday . The stock traded as low as $13.60 and last traded at $13.60. 595,076 shares were traded during trading, a decline of 85% from the average session volume of 4,101,240 shares. The stock had previously closed at $14.52.

Analysts Set New Price Targets

BZ has been the topic of a number of recent analyst reports. Daiwa Capital Markets lowered shares of Kanzhun from a “buy” rating to a “neutral” rating in a report on Thursday, July 25th. Daiwa America upgraded shares of Kanzhun to a “hold” rating in a report on Thursday, July 25th. Finally, Barclays reduced their price target on shares of Kanzhun from $27.00 to $14.00 and set an “overweight” rating for the company in a research report on Friday, August 30th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Kanzhun has an average rating of “Moderate Buy” and an average target price of $23.40.

Kanzhun Trading Down 5.0 %

The company has a market capitalization of $5.25 billion, a PE ratio of 31.98 and a beta of 0.55. The stock’s fifty day moving average is $14.82 and its two-hundred day moving average is $16.84.

Kanzhun (NASDAQ:BZ) last released its quarterly earnings data on Wednesday, August 28th. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.01. The firm had revenue of $263.75 million during the quarter, compared to analyst estimates of $264.38 million. Kanzhun had a return on equity of 10.19% and a net margin of 20.90%. As a group, analysts anticipate that Kanzhun Limited will post 0.47 EPS for the current fiscal year.

Hedge Funds Weigh In On Kanzhun

Several large investors have recently modified their holdings of BZ. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Kanzhun by 31.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 150,279 shares of the company’s stock valued at $2,634,000 after buying an additional 35,700 shares in the last quarter. Sei Investments Co. grew its holdings in Kanzhun by 25.3% during the first quarter. Sei Investments Co. now owns 700,049 shares of the company’s stock worth $12,272,000 after acquiring an additional 141,275 shares during the period. Mitsubishi UFJ Trust & Banking Corp grew its holdings in Kanzhun by 1.9% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 329,341 shares of the company’s stock worth $6,028,000 after acquiring an additional 6,203 shares during the period. GGV Capital LLC grew its holdings in Kanzhun by 350.8% during the first quarter. GGV Capital LLC now owns 2,366,764 shares of the company’s stock worth $41,489,000 after acquiring an additional 1,841,764 shares during the period. Finally, Russell Investments Group Ltd. boosted its position in Kanzhun by 53.0% during the first quarter. Russell Investments Group Ltd. now owns 540,660 shares of the company’s stock worth $9,482,000 after purchasing an additional 187,319 shares in the last quarter. Institutional investors own 60.67% of the company’s stock.

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.