KANZHUN (NASDAQ:BZ) Given New $17.00 Price Target at Barclays

KANZHUN (NASDAQ:BZ) had its price target cut by equities researchers at Barclays from $20.00 to $17.00 in a report issued on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price target would indicate a potential upside of 31.32% from the stock’s current price.

Other research analysts have also recently issued research reports about the stock. Bank of America assumed coverage on shares of KANZHUN in a report on Tuesday, August 18th. They issued a “neutral” rating and a $19.00 target price for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of KANZHUN in a research note on Tuesday, November 3rd. Finally, Sanford C. Bernstein reiterated an “outperform” rating and set a $19.00 target price on shares of KANZHUN in a research report on Wednesday, August 26th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, KANZHUN presently has an average rating of “Hold” and a consensus price target of $18.33.

KANZHUN Price Performance

Shares of NASDAQ BZ traded up $0.46 during midday trading on Friday, hitting $12.95. 3,342,334 shares of the company’s stock were exchanged, compared to its average volume of 4,747,556. KANZHUN has a twelve month low of $12.12 and a twelve month high of $22.49. The company has a market cap of $5.37 billion, a PE ratio of 9.12, a P/E/G ratio of 1.78 and a beta of 0.50. The firm’s fifty day simple moving average is $15.84 and its 200-day simple moving average is $15.22.

KANZHUN (NASDAQ:BZ) last announced its quarterly earnings results on Friday, August 14th. The company reported $0.33 earnings per share (EPS) for the quarter. The firm had revenue of $353.05 million during the quarter. KANZHUN had a return on equity of 15.03% and a net margin of 53.16%. Equities analysts anticipate that KANZHUN will post 1.00 EPS for the current fiscal year.

Insider Buying and Selling

In other KANZHUN news, Director Yang Mu sold 60,704 shares of KANZHUN stock in a transaction on Thursday, September 17th. The shares were sold at an average price of $7.46, for a total value of $452,851.84. Following the transaction, the director directly owned 143,356 shares in the company, valued at approximately $1,069,435.76. The trade was a 29.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CMO Xu Chen sold 200,000 shares of the stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $8.15, for a total transaction of $1,630,000.00. Following the sale, the chief marketing officer owned 153,340 shares of the company’s stock, valued at $1,249,721. This trade represents a 56.60% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 16,574,304 shares of company stock worth $121,583,960 in the last 90 days. Company insiders own 5.60% of the company’s stock.

Institutional Trading of KANZHUN

A number of hedge funds have recently added to or reduced their stakes in the stock. WCM Investment Management LLC raised its stake in shares of KANZHUN by 374.7% during the 1st quarter. WCM Investment Management LLC now owns 1,529,841 shares of the company’s stock worth $20,408,000 after buying an additional 1,207,553 shares during the last quarter. Capital Today Evergreen Fund L.P. acquired a new position in shares of KANZHUN during the 2nd quarter worth approximately $923,641. Bank of America Corp DE grew its holdings in KANZHUN by 38.5% during the 1st quarter. Bank of America Corp DE now owns 6,083,025 shares of the company’s stock valued at $81,452,000 after buying an additional 1,690,275 shares during the last quarter. Lazard Asset Management LLC increased its position in KANZHUN by 45.8% during the first quarter. Lazard Asset Management LLC now owns 2,001,349 shares of the company’s stock worth $26,798,000 after buying an additional 628,993 shares in the last quarter. Finally, Headlands Technologies LLC increased its position in KANZHUN by 238.5% during the second quarter. Headlands Technologies LLC now owns 119,462 shares of the company’s stock worth $1,537,000 after buying an additional 84,171 shares in the last quarter. 60.67% of the stock is owned by institutional investors and hedge funds.

About KANZHUN

KANZHUN Limited operates BOSS Zhipin, an online recruitment platform that connects job seekers with employers in China. Its services are designed to help candidates find employment opportunities and enable businesses to recruit talent. The platform emphasizes direct communication between job seekers and recruiters, alongside tools for discovering and matching candidates with available positions. KANZHUN provides recruitment services through its mobile and online platforms. BOSS Zhipin was launched in 2014.