Weiss Ratings Reaffirms Buy (B-) Rating for KANZHUN (NASDAQ:BZ)

Key Points

• Weiss Ratings has reiterated a "buy (B-)" rating for KANZHUN (NASDAQ:BZ), indicating confidence in the company's performance amid China's market recovery.
• A number of analysts, including UBS and Zacks Research, have upgraded KANZHUN's ratings and price targets, reflecting positive outlooks for the stock.
• Institutional investors have significantly increased their stakes in KANZHUN, with UBS AM increasing its holdings by 1,474.7%, showing strong institutional confidence in the company.

KANZHUN (NASDAQ:BZ - Get Free Report)'s stock had its "buy (b-)" rating reiterated by equities research analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

A number of other research analysts have also commented on the company. UBS Group raised KANZHUN from a "neutral" rating to a "buy" rating and set a $26.00 price target on the stock in a report on Thursday, August 21st. Zacks Research raised KANZHUN from a "hold" rating to a "strong-buy" rating in a report on Friday, September 12th. Barclays raised their price target on KANZHUN from $22.00 to $25.00 and gave the company an "overweight" rating in a report on Friday, August 22nd. Jefferies Financial Group raised their price target on KANZHUN from $20.00 to $24.00 and gave the company a "buy" rating in a report on Wednesday, August 20th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating on shares of KANZHUN in a research note on Monday, September 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $21.17.

KANZHUN Stock Up 1.4%

NASDAQ BZ traded up $0.33 during trading hours on Wednesday, hitting $24.38. The company had a trading volume of 1,984,549 shares, compared to its average volume of 3,924,371. KANZHUN has a fifty-two week low of $12.16 and a fifty-two week high of $25.26. The business has a fifty day simple moving average of $22.86 and a 200-day simple moving average of $19.28. The firm has a market cap of $10.04 billion, a P/E ratio of 35.90 and a beta of 0.43.

Institutional Investors Weigh In On KANZHUN

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BZ. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in 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 valued at $183,130,000 after purchasing an additional 8,946,253 shares during the last quarter. Norges Bank bought a new stake in KANZHUN in the second quarter valued at about $123,984,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of KANZHUN by 2,547.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,313,534 shares of the company's stock worth $101,860,000 after acquiring an additional 5,112,824 shares in the last quarter. Krane Funds Advisors LLC increased its holdings in shares of KANZHUN by 24.2% in the first quarter. Krane Funds Advisors LLC now owns 20,338,378 shares of the company's stock worth $389,887,000 after acquiring an additional 3,961,488 shares in the last quarter. Finally, Baillie Gifford & Co. bought a new stake in shares of KANZHUN in the first quarter worth about $71,111,000. Institutional investors 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.

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