Kanzhun (NASDAQ:BZ) had its price target cut to $14.00 by analysts at Barclays

Kanzhun (NASDAQ:BZ – Get a Free Report) The target price was reduced by analysts at Barclays from $27.00 to $14.00 in a report issued on Friday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays’ price target would suggest a potential upside of 12.36% from the stock’s previous close.

Several other equities analysts have also weighed in on BZ. JPMorgan Chase & Co. boosted their target price on shares of Kanzhun from $23.00 to $24.50 and gave the company an “overweight” rating in a report on Wednesday, May 22nd. UBS Group boosted their price objective on Kanzhun from $22.00 to $23.50 and gave the company a “neutral” rating in a report on Wednesday, May 22nd. Daiwa America raised Kanzhun to a “hold” rating in a research note on Thursday, July 25th. HSBC initiated coverage on Kanzhun in a research report on Friday, May 24th. They issued a “buy” rating and a $30.00 price target on the stock. Finally, Daiwa Capital Markets cut Kanzhun from a “buy” rating to a “neutral” rating in a report on Thursday, July 25th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Kanzhun presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.40, based on data from MarketBeat.com.

Get the latest research report on BZ

Kanzhun stocks rose 1.1%

Shares of BZ stock opened at $12.46 on Friday. Kanzhun has a 52-week low of $10.57 and a 52-week high of $22.74. The stock has a fifty day simple moving average of $15.64 and a two hundred day simple moving average of $17.88. The company has a market cap of $4.74 billion, a PE ratio of 31.95 and a beta of 0.48.

Hedge funds influence Kanzhun

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Kanzhun by 1.6% in the first quarter. Vanguard Group Inc. now owns 12,875,675 shares of the company’s stock worth $225,711,000 after purchasing an additional 203,594 shares during the last quarter. Brilliance Asset Management Ltd. boosted its holdings in Kanzhun by 1.5% in the fourth quarter. Brilliance Asset Management Ltd. now owns 10,101,933 shares of the company’s stock valued at $167,793,000 after acquiring an additional 153,010 shares during the period. Wellington Management Group LLP raised its stake in Kanzhun by 21.8% during the 4th quarter. Wellington Management Group LLP now owns 6,976,129 shares of the company’s stock worth $115,874,000 after buying an additional 1,247,997 shares in the last quarter. Norges Bank acquired a new stake in Kanzhun during the fourth quarter valued at approximately $98,023,000. Finally, RWC Asset Advisors US LLC raised its position in Kanzhun by 79.8% in the second quarter. RWC Asset Advisors US LLC now owns 5,700,186 shares of the company’s stock valued at $107,220,000 after buying an additional 2,529,725 shares in the last quarter. 60.67% of the shares are owned by institutional investors and hedge funds.

About Kanzhun

(Get a free report)

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 application under the BOSS Zhipin brand. Its services enable enterprise customers to access and interact with job seekers and manage their recruitment process.

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