Kanzhun (NASDAQ:BZ) Stock Price Down 6.3% – What’s Next?

Kanzhun Limited (NASDAQ:BZ) fell 6.3% on Tuesday . The stock traded as low as $13.60 and last traded at $13.60. 595,076 shares traded hands during mid-day 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

A number of research analysts have commented on BZ shares. Daiwa Capital Markets cut shares of Kanzhun from a “buy” rating to a “neutral” rating in a research note on Thursday, July 25th. Barclays reduced their price objective on shares of Kanzhun from $27.00 to $14.00 and set an “overweight” rating on the stock in a research note on Friday, August 30th. Finally, Daiwa America raised shares of Kanzhun to a “hold” rating in a research note on Thursday, July 25th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $23.40.

Kanzhun Trading Down 5.0 %

The firm has a market capitalization of $5.25 billion, a P/E ratio of 31.98 and a beta of 0.55. The company’s fifty day simple moving average is $14.82 and its 200 day simple moving average is $16.84.

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

Hedge Funds Weigh In On Kanzhun

A number of large investors have recently added to or reduced their stakes in BZ. Atlas Capital Advisors LLC purchased a new position in shares of Kanzhun during the 2nd quarter valued at approximately $25,000. Summit Securities Group LLC acquired a new stake in shares of Kanzhun in the second quarter valued at $44,000. UMB Bank n.a. acquired a new stake in Kanzhun in the third quarter valued at $42,000. Van ECK Associates Corp acquired a new stake in Kanzhun in the third quarter valued at $61,000. Finally, Blue Trust Inc. grew its holdings in shares of Kanzhun by 21.4% during the second quarter. Blue Trust Inc. now owns 7,638 shares of the company’s stock worth $134,000 after purchasing an additional 1,347 shares during the last quarter. 60.67% of the stock is currently owned by institutional investors.

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.