Kanzhun Limited (NASDAQ:BZ) Receives Consensus Rating of “Moderate Buy” from Analysts

Kanzhun Limited (NASDAQ:BZ) has been assigned an average recommendation of “Moderate Buy” from the nine ratings firms that are currently covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $21.71.

Several brokerages have commented on BZ. Barclays raised their target price on shares of Kanzhun from $16.00 to $22.00 and gave the stock an “overweight” rating in a report on Thursday, March 13th. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $18.00 price objective on shares of Kanzhun in a research report on Wednesday, March 12th.

Hedge Funds Weigh In On Kanzhun

Several hedge funds have recently modified their holdings of BZ. Capital World Investors increased its holdings in Kanzhun by 636.3% during the fourth quarter. Capital World Investors now owns 13,828,732 shares of the company’s stock worth $190,837,000 after buying an additional 11,950,467 shares during the last quarter. Krane Funds Advisors LLC raised its holdings in shares of Kanzhun by 49.6% in the 4th quarter. Krane Funds Advisors LLC now owns 16,376,890 shares of the company’s stock valued at $226,001,000 after purchasing an additional 5,432,730 shares during the period. Norges Bank acquired a new stake in Kanzhun in the 4th quarter valued at about $64,060,000. National Bank of Canada FI bought a new position in Kanzhun during the third quarter worth about $45,482,000. Finally, Nomura Asset Management Co. Ltd. raised its stake in Kanzhun by 7,012.9% in the third quarter. Nomura Asset Management Co. Ltd. now owns 2,325,929 shares of the company’s stock valued at $40,378,000 after buying an additional 2,293,229 shares during the period. Institutional investors own 60.67% of the company’s stock.

Kanzhun Stock Down 18.3 %

BZ opened at $15.42 on Friday. The stock has a market cap of $5.92 billion, a P/E ratio of 34.27 and a beta of 0.32. Kanzhun has a 12 month low of $10.57 and a 12 month high of $22.74. The company has a fifty day simple moving average of $17.12 and a 200 day simple moving average of $15.43.

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.