Barclays Forecasts Strong Price Appreciation for KANZHUN (NASDAQ:BZ) Stock

KANZHUN (NASDAQ:BZ) had its price objective increased by equities researchers at Barclays from $22.00 to $25.00 in a research report issued on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s target price would suggest a potential upside of 9.46% from the company’s previous close.

Several other research firms also recently commented on BZ. Zacks Research downgraded shares of KANZHUN from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 14th. Daiwa America raised shares of KANZHUN from a “hold” rating to a “strong-buy” rating in a report on Monday, June 2nd. UBS Group raised shares of KANZHUN from a “neutral” rating to a “buy” rating and set a $26.00 price objective on the stock in a report on Thursday. Finally, Jefferies Financial Group upped their price objective on shares of KANZHUN from $20.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, KANZHUN currently has a consensus rating of “Moderate Buy” and an average target price of $21.17.

KANZHUN Stock Performance

Shares of NASDAQ:BZ opened at $22.84 on Friday. The company has a market capitalization of $9.37 billion, a P/E ratio of 34.09 and a beta of 0.41. KANZHUN has a fifty-two week low of $10.57 and a fifty-two week high of $24.03. The company’s 50-day moving average is $19.37 and its 200 day moving average is $17.75.

Institutional Trading of KANZHUN

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BZ. First Horizon Advisors Inc. purchased a new stake in KANZHUN in the first quarter worth $25,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in KANZHUN during the first quarter valued at $27,000. Brooklyn Investment Group lifted its position in KANZHUN by 3,115.4% during the first quarter. Brooklyn Investment Group now owns 2,926 shares of the company’s stock valued at $56,000 after buying an additional 2,835 shares during the period. PNC Financial Services Group Inc. lifted its position in KANZHUN by 39.2% during the second quarter. PNC Financial Services Group Inc. now owns 4,211 shares of the company’s stock valued at $75,000 after buying an additional 1,185 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its position in KANZHUN by 315.5% during the second quarter. EverSource Wealth Advisors LLC now owns 5,850 shares of the company’s stock valued at $104,000 after buying an additional 4,442 shares during the period. Hedge funds and other 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.