KANZHUN (NASDAQ:BZ) Stock Gets Price Target Trim from Barclays

Key Points

• Barclays lowered its KANZHUN price target from $20 to $17 but maintained an “overweight” rating; the new target implies 31.32% upside from the prior close.
• Analyst sentiment is more cautious overall: MarketBeat reports an average “hold” rating and an average price target of $18.33.
• Insiders sold 16.57 million shares worth about $121.6 million in the last quarter; insiders own 5.6% of the company.

KANZHUN (NASDAQ:BZ - Get Free Report) had its price target dropped by analysts at Barclays from $20.00 to $17.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Barclays's target price suggests a potential upside of 31.32% from the stock's previous close.

A number of other equities analysts also recently issued reports on the company. Bank of America started coverage on KANZHUN in a report on Tuesday, August 18th. They set a "neutral" rating and a $19.00 price objective for the company. Weiss Ratings reissued a "hold (c)" rating on shares of KANZHUN in a report on Tuesday, November 3rd. Finally, Sanford C. Bernstein restated an "outperform" rating and set a $19.00 price objective on shares of KANZHUN in a report on Wednesday, August 26th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $18.33.

KANZHUN Stock Performance

KANZHUN stock traded up $0.46 during trading hours on Friday, hitting $12.95. The company had a trading volume of 3,342,334 shares, compared to its average volume of 4,747,556. The company has a 50-day moving average price of $15.84 and a two-hundred day moving average price of $15.22. KANZHUN has a 1 year low of $12.12 and a 1 year high of $22.49. The firm has a market cap of $5.37 billion, a P/E ratio of 9.12, a P/E/G ratio of 1.78 and a beta of 0.50.

KANZHUN (NASDAQ:BZ - Get Free Report) last announced its quarterly earnings results on Friday, August 14th. The company reported $0.33 EPS for the quarter. The firm had revenue of $353.05 million for the quarter. KANZHUN had a return on equity of 15.03% and a net margin of 53.16%. As a group, equities research analysts anticipate that KANZHUN will post 1.00 EPS for the current year.

Insider Activity

In other KANZHUN news, CMO Xu Chen sold 400,000 shares of KANZHUN stock in a transaction on Friday, September 4th. The stock was sold at an average price of $8.50, for a total value of $3,400,000.00. Following the sale, the chief marketing officer owned 153,340 shares in the company, valued at $1,303,390. The trade was a 72.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Yang Mu sold 60,704 shares of KANZHUN stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $7.46, for a total transaction of $452,851.84. Following the sale, the director owned 143,356 shares of the company's stock, valued at approximately $1,069,435.76. This represents a 29.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 16,574,304 shares of company stock valued at $121,583,960. 5.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On KANZHUN

Several hedge funds have recently bought and sold shares of the company. Parallel Advisors LLC grew its holdings in shares of KANZHUN by 5,732.4% in the first quarter. Parallel Advisors LLC now owns 2,158 shares of the company's stock valued at $29,000 after purchasing an additional 2,121 shares in the last quarter. Silver Grove Financial Group Inc. grew its holdings in KANZHUN by 54.1% during the 3rd quarter. Silver Grove Financial Group Inc. now owns 2,917 shares of the company's stock worth $43,000 after acquiring an additional 1,024 shares in the last quarter. Global Retirement Partners LLC increased its position in shares of KANZHUN by 158.9% in the 3rd quarter. Global Retirement Partners LLC now owns 3,441 shares of the company's stock valued at $51,000 after purchasing an additional 2,112 shares during the last quarter. Hantz Financial Services Inc. raised its holdings in shares of KANZHUN by 8.5% in the 3rd quarter. Hantz Financial Services Inc. now owns 11,003 shares of the company's stock valued at $163,000 after purchasing an additional 865 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of KANZHUN in the 3rd quarter valued at $167,000. Institutional investors and hedge funds own 60.67% of the company's stock.

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.

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