KANZHUN (NASDAQ:BZ) Upgraded to Buy at Wall Street Zen

Wall Street Zen upgraded shares of KANZHUN (NASDAQ:BZ) from a hold rating to a buy rating in a report released on Sunday morning.

A number of other brokerages have also weighed in on BZ. Barclays upped their target price on KANZHUN from $25.00 to $28.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 19th. UBS Group upgraded shares of KANZHUN from a “neutral” rating to a “buy” rating and set a $26.00 price target for the company in a research note on Thursday, August 21st. Zacks Research lowered shares of KANZHUN from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 10th. The Goldman Sachs Group reiterated a “buy” rating on shares of KANZHUN in a report on Monday, September 22nd. Finally, Jefferies Financial Group upped their target price on shares of KANZHUN from $20.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, KANZHUN currently has an average rating of “Moderate Buy” and an average price target of $24.00.

KANZHUN Price Performance

Shares of KANZHUN stock opened at $21.77 on Friday. The business has a 50-day simple moving average of $21.98 and a 200 day simple moving average of $20.90. KANZHUN has a one year low of $12.85 and a one year high of $25.26. The firm has a market capitalization of $9.02 billion, a price-to-earnings ratio of 28.65 and a beta of 0.42.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BZ. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in KANZHUN by 1,474.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 9,552,922 shares of the company’s stock valued at $183,130,000 after acquiring an additional 8,946,253 shares during the period. Norges Bank bought a new stake in shares of KANZHUN in the 2nd quarter worth approximately $123,984,000. Krane Funds Advisors LLC grew its stake in shares of KANZHUN by 24.7% in the 3rd quarter. Krane Funds Advisors LLC now owns 19,291,036 shares of the company’s stock worth $413,311,000 after buying an additional 3,819,347 shares during the last quarter. Capital International Investors grew its stake in shares of KANZHUN by 70.3% in the 3rd quarter. Capital International Investors now owns 8,059,160 shares of the company’s stock worth $188,262,000 after buying an additional 3,326,548 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its position in KANZHUN by 299.4% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 4,399,712 shares of the company’s stock valued at $78,491,000 after buying an additional 3,298,187 shares in 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.