JPMorgan Chase & Co. Raises Kanzhun (NASDAQ:BZ) Price Target to $24.50

Kanzhun (NASDAQ:BZ) had its price objective hoisted by JPMorgan Chase & Co. from $23.00 to $24.50 in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have an overweight rating on the stock.

Several other equities analysts also recently weighed in on BZ. TheStreet upgraded Kanzhun from a d+ rating to a c- rating in a research report on Wednesday, March 13th. New Street Research upgraded Kanzhun from a neutral rating to a buy rating and increased their target price for the company from $17.00 to $25.00 in a research note on Wednesday, March 13th. Macquarie upgraded Kanzhun from a neutral rating to an outperform rating in a research note on Tuesday, March 12th. Finally, Barclays raised their price target on Kanzhun from $22.00 to $27.00 and gave the stock an overweight rating in a report on Wednesday, March 13th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $22.67.

Kanzhun Price Performance

NASDAQ:BZ opened at $21.21 on Wednesday. Kanzhun has a 1-year low of $12.57 and a 1-year high of $22.74. The firm’s fifty day moving average price is $19.62 and its 200 day moving average price is $16.99. The firm has a market cap of $7.96 billion, a price-to-earnings ratio of 54.38 and a beta of 0.50.

Kanzhun (NASDAQ:BZ) last announced its quarterly earnings data on Tuesday, March 12th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.09 by $0.01. The firm had revenue of $222.57 million during the quarter, compared to analysts’ expectations of $215.66 million. Kanzhun had a net margin of 20.55% and a return on equity of 9.73%. As a group, analysts expect that Kanzhun will post 0.48 earnings per share for the current fiscal year.

Institutional Trading of Kanzhun

A number of institutional investors have recently bought and sold shares of the company. Swedbank AB bought a new stake in shares of Kanzhun during the 1st quarter worth about $861,000. California State Teachers Retirement System raised its stake in shares of Kanzhun by 80.5% in the 1st quarter. California State Teachers Retirement System now owns 62,681 shares of the company’s stock valued at $1,099,000 after acquiring an additional 27,954 shares in the last quarter. Bayesian Capital Management LP acquired a new stake in Kanzhun in the 1st quarter worth approximately $500,000. Quadrature Capital Ltd boosted its position in Kanzhun by 419.5% during the first quarter. Quadrature Capital Ltd now owns 108,684 shares of the company’s stock worth $1,904,000 after purchasing an additional 87,763 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Kanzhun by 25.7% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,794,700 shares of the company’s stock valued at $48,991,000 after purchasing an additional 572,200 shares during the last quarter. Institutional investors and hedge funds 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.