Barclays Forecasts Strong Price Appreciation for KANZHUN (NASDAQ:BZ) Stock

Key Points

• Barclays has raised its price target for KANZHUN (NASDAQ:BZ) from $22.00 to $25.00, maintaining an "overweight" rating, which suggests a potential upside of 6.20% from its last close.
• Multiple analysts have recent evaluations on KANZHUN, with Jefferies upgrading its target to $24.00 and UBS Group setting a price objective of $26.00, while Zacks downgraded it to a "hold" rating.
• The stock is currently experiencing significant growth, with a 6.6% increase in shares, and has a market capitalization of $9.66 billion, reflecting a strong interest from hedge funds and institutional investors.

KANZHUN (NASDAQ:BZ - Get Free Report) had its price target raised by analysts at Barclays from $22.00 to $25.00 in a report released on Friday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Barclays's price objective indicates a potential upside of 6.20% from the stock's previous close.

A number of other analysts have also recently weighed in on BZ. Zacks Research cut shares of KANZHUN from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 14th. Jefferies Financial Group raised their price objective on shares of KANZHUN from $20.00 to $24.00 and gave the stock a "buy" rating in a report on Wednesday. Daiwa America raised shares of KANZHUN from a "hold" rating to a "strong-buy" rating in a report on Monday, June 2nd. Finally, UBS Group raised shares of KANZHUN from a "neutral" rating to a "buy" rating and set a $26.00 price objective on the stock in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, KANZHUN has an average rating of "Moderate Buy" and an average target price of $21.17.

KANZHUN Stock Up 6.6%

Shares of NASDAQ:BZ opened at $23.54 on Friday. The firm's 50 day moving average price is $19.26 and its 200 day moving average price is $17.68. The stock has a market cap of $9.66 billion, a price-to-earnings ratio of 35.13 and a beta of 0.41. KANZHUN has a fifty-two week low of $10.57 and a fifty-two week high of $24.03.

Hedge Funds Weigh In On KANZHUN

A number of hedge funds have recently modified their holdings of the business. Public Sector Pension Investment Board grew its position in shares of KANZHUN by 11.7% during the second quarter. Public Sector Pension Investment Board now owns 111,506 shares of the company's stock worth $1,989,000 after acquiring an additional 11,700 shares during the last quarter. Vident Advisory LLC grew its position in KANZHUN by 7.8% in the 2nd quarter. Vident Advisory LLC now owns 53,398 shares of the company's stock valued at $953,000 after buying an additional 3,874 shares during the last quarter. Tidal Investments LLC grew its position in KANZHUN by 29.2% in the 2nd quarter. Tidal Investments LLC now owns 42,908 shares of the company's stock valued at $765,000 after buying an additional 9,708 shares during the last quarter. Royal London Asset Management Ltd. grew its position in KANZHUN by 9.4% in the 2nd quarter. Royal London Asset Management Ltd. now owns 288,308 shares of the company's stock valued at $5,143,000 after buying an additional 24,700 shares during the last quarter. Finally, Man Group plc grew its position in KANZHUN by 147.1% in the 2nd quarter. Man Group plc now owns 2,002,649 shares of the company's stock valued at $35,727,000 after buying an additional 1,192,296 shares during the last quarter. 60.67% of the stock is currently owned by hedge funds and other institutional investors.

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.

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