Kanzhun (NASDAQ:BZ) Shares Gap Down Following Weak Earnings

Kanzhun Limited (NASDAQ:BZ - Get Free Report) gapped down prior to trading on Thursday following a dissappointing earnings announcement. The stock had previously closed at $17.90, but opened at $16.65. Kanzhun shares last traded at $17.12, with a volume of 508,598 shares.

The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.06). Kanzhun had a return on equity of 10.31% and a net margin of 20.65%.

Analysts Set New Price Targets

BZ has been the subject of several recent analyst reports. Barclays upped their target price on shares of Kanzhun from $16.00 to $22.00 and gave the stock an "overweight" rating in a research report on Thursday, March 13th. Sanford C. Bernstein reaffirmed a "market perform" rating and set a $18.00 target price on shares of Kanzhun in a research note on Wednesday, March 12th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Kanzhun has a consensus rating of "Moderate Buy" and an average target price of $21.71.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Acadian Asset Management LLC boosted its position in shares of Kanzhun by 1,742.7% in the 1st quarter. Acadian Asset Management LLC now owns 2,355,494 shares of the company's stock valued at $45,130,000 after purchasing an additional 2,227,666 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Kanzhun by 1,474.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 9,552,922 shares of the company's stock worth $183,130,000 after acquiring an additional 8,946,253 shares in the last quarter. Serenity Capital Management PTE. LTD. acquired a new stake in shares of Kanzhun during the first quarter valued at approximately $23,008,000. Goldman Sachs Group Inc. lifted its position in shares of Kanzhun by 45.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 8,629,115 shares of the company's stock valued at $165,420,000 after acquiring an additional 2,678,683 shares in the last quarter. Finally, Temasek Holdings Private Ltd grew its position in Kanzhun by 22.9% during the 1st quarter. Temasek Holdings Private Ltd now owns 947,865 shares of the company's stock worth $18,171,000 after purchasing an additional 176,338 shares in the last quarter. Institutional investors and hedge funds own 60.67% of the company's stock.

Kanzhun Stock Performance

The firm's 50 day simple moving average is $16.78 and its 200-day simple moving average is $15.42. The company has a market capitalization of $6.69 billion, a price-to-earnings ratio of 38.17 and a beta of 0.35.

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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