Zacks Research Downgrades KANZHUN (NASDAQ:BZ) to Hold

KANZHUN (NASDAQ:BZ) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

BZ has been the topic of several other reports. UBS Group upgraded KANZHUN from a “neutral” rating to a “buy” rating and set a $26.00 price objective on the stock in a report on Thursday, August 21st. Jefferies Financial Group lifted their price objective on shares of KANZHUN from $20.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, August 20th. The Goldman Sachs Group restated a “buy” rating on shares of KANZHUN in a research note on Monday, September 22nd. Weiss Ratings lowered KANZHUN from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday. Finally, Barclays increased their target price on shares of KANZHUN from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Friday, August 22nd. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $21.17.

KANZHUN Stock Performance

NASDAQ BZ opened at $21.11 on Monday. The business’s 50 day moving average price is $22.98 and its 200-day moving average price is $20.33. The company has a market cap of $8.74 billion, a P/E ratio of 31.49 and a beta of 0.42. KANZHUN has a fifty-two week low of $12.16 and a fifty-two week high of $25.26.

Institutional Investors Weigh In On KANZHUN

Several institutional investors and hedge funds have recently modified their holdings of BZ. Charles Schwab Investment Management Inc. boosted its position in KANZHUN by 3.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 437,579 shares of the company’s stock valued at $8,388,000 after buying an additional 13,763 shares during the period. Nordea Investment Management AB raised its stake in shares of KANZHUN by 6.6% in the second quarter. Nordea Investment Management AB now owns 327,771 shares of the company’s stock valued at $5,806,000 after acquiring an additional 20,329 shares in the last quarter. Citigroup Inc. boosted its holdings in KANZHUN by 2.9% in the first quarter. Citigroup Inc. now owns 4,084,520 shares of the company’s stock valued at $78,300,000 after purchasing an additional 116,280 shares during the period. DekaBank Deutsche Girozentrale grew its stake in KANZHUN by 105.3% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 65,816 shares of the company’s stock worth $1,167,000 after purchasing an additional 33,750 shares in the last quarter. Finally, Asset Management One Co. Ltd. increased its holdings in KANZHUN by 18.6% during the 2nd quarter. Asset Management One Co. Ltd. now owns 54,058 shares of the company’s stock worth $964,000 after purchasing an additional 8,473 shares during the period. Hedge funds and other institutional investors own 60.67% of the company’s stock.

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.