Kanzhun Ltd. (BZ) PT Raised to $26.20 at Jefferies

Jefferies analyst Thomas Chong raised the price target on Kanzhun Ltd. (NASDAQ: BZ) to $26.20 (from $23.30) while maintaining a Buy rating.

The analyst comments "BZ reported 1Q results with total revenue 1.9% and 3% ahead of consensus and our estimates and non-GAAP earnings beat expectations. Mid-point of 2Q revenue guidance is inline with cons. Management highlights blue collar maintains at fast growth and large enterprises are seen to recover better than SME. Number of paying users remain low in penetration which we view as a key growth driver vs ARPU. Margin expansion story is expected in 2Q and 2024. Maintain Buy."

You May Also Be Interested In

• JD.com (JD) Reiterated at Buy by Benchmark Amid Earnings Recovery
• Jefferies on Five Below (FIVE): 'Our latest channel checks reinforce our view that FIVE's momentum extends well beyond viral Squish trends'
• BofA Securities Resumes American Eagle Outfitters (AEO) at Underperform