Kanzhun (NASDAQ:BZ) Shares Gap Down – What’s Next?

Kanzhun Limited (NASDAQ:BZ)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $20.56, but opened at $19.59. Kanzhun shares last traded at $20.29, with a volume of 870,135 shares traded.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Barclays upped their price target on Kanzhun from $16.00 to $22.00 and gave the stock an “overweight” rating in a research note on Thursday, March 13th. Sanford C. Bernstein reiterated a “market perform” rating and issued a $18.00 target price on shares of Kanzhun in a research note on Wednesday, March 12th. Finally, Citigroup lowered their target price on Kanzhun from $17.00 to $16.00 and set a “buy” rating for the company in a research note on Friday, November 29th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $21.71.

Kanzhun Trading Down 1.5 %

The business has a 50 day simple moving average of $16.17 and a two-hundred day simple moving average of $14.93. The stock has a market cap of $7.61 billion, a price-to-earnings ratio of 44.40 and a beta of 0.46.

Institutional Investors Weigh In On Kanzhun

A number of hedge funds have recently bought and sold shares of the business. California State Teachers Retirement System grew its stake in Kanzhun by 39.7% during the 4th quarter. California State Teachers Retirement System now owns 147,518 shares of the company’s stock valued at $2,036,000 after purchasing an additional 41,941 shares in the last quarter. Lansforsakringar Fondforvaltning AB publ acquired a new stake in Kanzhun during the 4th quarter valued at approximately $1,979,000. GF Fund Management CO. LTD. acquired a new stake in Kanzhun during the 4th quarter valued at approximately $9,066,000. Public Employees Retirement System of Ohio lifted its holdings in Kanzhun by 38.5% during the 4th quarter. Public Employees Retirement System of Ohio now owns 114,088 shares of the company’s stock worth $1,574,000 after buying an additional 31,739 shares during the last quarter. Finally, Vise Technologies Inc. bought a new position in Kanzhun during the 4th quarter worth approximately $256,000. Institutional investors and hedge funds 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.