Kanzhun (NASDAQ:BZ) Stock Price Down 2.8%

Kanzhun Limited (NASDAQ:BZ)’s share price was down 2.8% on Thursday . The company traded as low as $17.61 and last traded at $17.79. Approximately 1,283,852 shares changed hands during trading, a decline of 60% from the average daily volume of 3,178,732 shares. The stock had previously closed at $18.30.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on BZ shares. JPMorgan Chase & Co. started coverage on shares of Kanzhun in a research report on Wednesday, December 13th. They set an “overweight” rating and a $20.00 price target for the company. Macquarie raised shares of Kanzhun from a “neutral” rating to an “outperform” rating in a research report on Tuesday, March 12th. New Street Research raised shares of Kanzhun from a “neutral” rating to a “buy” rating and upped their price target for the stock from $17.00 to $25.00 in a research report on Wednesday, March 13th. TheStreet raised shares of Kanzhun from a “d+” rating to a “c-” rating in a research report on Wednesday, March 13th. Finally, Barclays upped their price target on shares of Kanzhun from $22.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 13th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $20.38.

Kanzhun Stock Down 4.2 %

The firm has a market cap of $6.58 billion, a price-to-earnings ratio of 55.46 and a beta of 0.56. The stock’s 50 day moving average is $15.88 and its 200 day moving average is $15.65.

Hedge Funds Weigh In On Kanzhun

Several institutional investors and hedge funds have recently added to or reduced their stakes in BZ. National Pension Service grew its position in Kanzhun by 423.1% during the 2nd quarter. National Pension Service now owns 6,800 shares of the company’s stock worth $179,000 after purchasing an additional 5,500 shares in the last quarter. Centiva Capital LP acquired a new stake in shares of Kanzhun during the 2nd quarter valued at $1,069,000. Goldman Sachs Group Inc. boosted its stake in shares of Kanzhun by 40.7% during the 2nd quarter. Goldman Sachs Group Inc. now owns 5,144,794 shares of the company’s stock valued at $135,205,000 after buying an additional 1,487,391 shares during the period. ExodusPoint Capital Management LP acquired a new stake in shares of Kanzhun during the 2nd quarter valued at $1,225,000. Finally, Dimensional Fund Advisors LP acquired a new stake in shares of Kanzhun during the 3rd quarter valued at $234,000. 60.67% of the stock is currently owned by hedge funds and other institutional investors.

Kanzhun Company Profile

Kanzhun Limited engages in the provision of online recruitment solutions in the People's Republic of China. The company offers its recruitment solutions through a mobile app under the BOSS Zhipin brand name. Its recruitment platform assists the recruitment process between job seekers and employers for enterprises, and corporations.