2023-05-26 07:59:33 ET
China-based online recruitment solutions provider Kanzhun ( NASDAQ: BZ ) fell by ~9% Friday pre-market despite Barclays upgrading the stock a day ago on attractive valuation and return potential.
The ratings agency upgraded Kanzhun to Overweight from Equal Weight, and retained the price target of $21. The stock is currently trading $14.03.
The ratings action considers the company's strong Q1 results and a positive outlook. BZ's non-GAAP EPS of $0.08, beats by $0.02, and revenue of $186M (+12.3% Y/Y), beats by $4.88M.
The company's lower-than-expected OPEX helped drive operating profit 27% above Barclays' estimates.
BZ's shares are down ~40% since late January, leading to the emergence of an attractive valuation and return potential to the $21 price target, according to Barclays.
Here is a look at the company's share price movements YTD:
The average sell-side analysts rating on the stock is a Strong Buy , with an average price target of $23.32.
Meanwhile, Seeking Alpha's Quant Rating system gives the stock a Hold rating.
Here are some articles by SA analysts on Kanzhun:
- Kanzhun Cranks Up Spending, Even As Others Tighten Belts
- Kanzhun Limited: Services Beyond Just Recruitment To Drive Growth
For further details see:
Kanzhun falls despite upgrade by Barclays on valuation, return potential