Kanzhun (NASDAQ:BZ) Shares Gap Down After Analyst Downgrade

Shares of Kanzhun Limited (NASDAQ:BZGet Free Report) gapped down prior to trading on Wednesday after Sanford C. Bernstein lowered their price target on the stock from $27.00 to $20.00. The stock had previously closed at $14.87, but opened at $14.54. Kanzhun shares last traded at $15.00, with a volume of 223,579 shares changing hands.

A number of other research firms have also weighed in on BZ. Barclays upgraded Kanzhun from an “equal weight” rating to an “overweight” rating and set a $21.00 target price on the stock in a report on Thursday, May 25th. Macquarie lowered Kanzhun from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $22.00 to $16.00 in a report on Monday, August 21st. Daiwa Capital Markets began coverage on Kanzhun in a report on Wednesday, July 12th. They issued a “buy” rating and a $19.00 target price on the stock. Finally, Citigroup began coverage on Kanzhun in a research report on Thursday, July 20th. They set a “buy” rating and a $19.00 price target for the company. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $19.67.

Read Our Latest Report on BZ

Institutional Trading of Kanzhun

A number of institutional investors and hedge funds have recently modified their holdings of BZ. PNC Financial Services Group Inc. increased its position in shares of Kanzhun by 67.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,922 shares of the company’s stock valued at $39,000 after acquiring an additional 772 shares during the last quarter. 1832 Asset Management L.P. purchased a new stake in Kanzhun in the fourth quarter worth $49,000. Employees Retirement System of Texas purchased a new stake in Kanzhun in the second quarter worth $81,000. Shell Asset Management Co. purchased a new stake in Kanzhun in the fourth quarter worth $149,000. Finally, Virginia Retirement Systems ET AL purchased a new stake in Kanzhun in the second quarter worth $157,000. 60.67% of the stock is owned by hedge funds and other institutional investors.

Kanzhun Stock Up 0.1 %

The stock has a 50-day simple moving average of $15.86 and a 200-day simple moving average of $17.35. The firm has a market capitalization of $5.59 billion, a PE ratio of 248.17 and a beta of 0.41.

Kanzhun Company Profile

(Get Free Report)

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.

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