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Kanzhun's Boss Zhipin job platform connects job seekers and employers. Boss Zhipin is China's largest online recruitment platform based on average number of monthly active users, or MAU, and was established in 2014. Kanzhun earns revenue by providing services to enterprise customers primarily through its mobile app, which promotes engagement between recruiters and workers and operates on a recommendation basis powered by artificial intelligence. The platform specializes in transportation, logistics, construction, and service-based industries. About 85% of the companies looking to hire are small and medium-size enterprises. Its main competitors are 58.com, 51job, and Zhilian Zhaopin. Tencent has a 9.2% stake in Kanzhun.

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Shares of Telesis Bio, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TBIO#NASDAQ">TBIO</a>) rose sharply in today's pre-market trading session after the company announced a partnership with Beckman Coulter Life Sciences to revolutionize DNA and mRNA synthesis.
Telesis Bio reached a new partnership with laboratory automation and innovation company Beckman Coulter Life Sciences to create efficient and scalable biofoundries and deliver<a href="https://www.benzinga.com/general/biotech/24/09/41035436/telesis-bio-stock-is-soaring-wednesday-whats-going-on"> solutions for DNA synthesis</a>.
Telesis Bio shares jumped 109.9% to $4.87 in the pre-market trading.
Here are some other stocks moving in pre-market trading.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>Kintara Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KTRA#NASDAQ">KTRA</a>) rose 41.8% to $0.2375 in pre-market trading. Kintara Therapeutics recently announced adjournment of special meeting of stockholders until Oct. 4.</li>
<li>Fangdd Network Group Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DUO#NASDAQ">DUO</a>) shares rose 22.3% to $0.6234 in pre-market trading after declining 7% on Friday.</li>
<li>NuCana plc  (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NCNA#NASDAQ">NCNA</a>) gained 20.7% to $3.68 in pre-market trading after the company announced a U.S. patent grant covering its NUC-7738 composition-of-matter.</li>
<li>Micron Technology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>) gained 15.5% to $110.61 in pre-market as the company reported better-than-expected fourth-quarter financial results. The company reported fourth-quarter revenue of $7.75 billion, beating the consensus estimate of $7.635 billion. The company reported fourth-quarter adjusted earnings of $1.18 per share, beating analyst estimates of $1.13 per share, according to Benzinga Pro.</li>
<li>Gaotu Techedu Inc.  (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOTU#NYSE">GOTU</a>) shares rose 14.8% to $3.34 in pre-market trading after falling around 5% on Wednesday.</li>
<li>Sonnet BioTherapeutics Holdings, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SONN#NASDAQ">SONN</a>) rose 14.2% to $0.83 in pre-market trading. Sonnet BioTherapeutics shares dipped 20% on Wednesday after the company announced a 1-for-8 reverse stock split.</li>
<li>MicroCloud Hologram Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOLO#NASDAQ">HOLO</a>) shares gained 13.6% to $0.2737 in pre-market trading after rising around 5% on Wednesday.</li>
<li>Kanzhun Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BZ#NASDAQ">BZ</a>) shares surged 13.5% to $16.20 in pre-market trading after falling 6% on Wednesday.</li>
<li>American Lithium Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMLI#NASDAQ">AMLI</a>) gained 8.7% to $0.5297 in pre-market trading after gaining over 11% on Wednesday.</li>
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<h3 class="wp-block-heading">Losers</h3>
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<li>VS MEDIA Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VSME#NASDAQ">VSME</a>) fell 23.6% to $1.16 in pre-market trading after jumping 22% on Wednesday.</li>
<li>MDxHealth SA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDXH#NASDAQ">MDXH</a>) shares dipped 20.9% to $2.01 in pre-market trading after the company reported the pricing of offering of ordinary shares.</li>
<li>Pagaya Technologies Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PGY#NASDAQ">PGY</a>) shares fell 15% to $10.59 in pre-market trading after the company announced its intention to offer $125 million of exchangeable senior notes due 2029 in a private offering.</li>
<li>AtlasClear Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATCH#NASDAQ">ATCH</a>) fell 14.5% to $0.2547 in pre-market trading. AtlasClear Holdings named Mark S. Smith as a Board Member.</li>
<li>Concentrix Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CNXC#NASDAQ">CNXC</a>) shares declined 13.8% to $54.79 in pre-market trading following mixed third-quarter financial results.</li>
<li>NLS Pharmaceutics AG (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NLSP#NASDAQ">NLSP</a>) shares fell 13.8% to $0.11 in pre-market trading. NLS Pharmaceutics, on Wednesday, announced expected implementation of 1-for-40 reverse share split.</li>
<li>Seelos Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SEEL#NASDAQ">SEEL</a>) fell 13.4% to $0.2928 in today's pre-market trading after gaining 13% on Wednesday. The company announced a 1-for-16 reverse stock split.</li>
<li>ConnectM Technology Solutions, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CNTM#NASDAQ">CNTM</a>) shares declined 12.3% to $1.00 in pre-market trading after declining 10% on Wednesday.</li>
<li>Armada Hoffler Properties, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AHH#NYSE">AHH</a>) declined 7.3% to $11.00 in pre-market trading. Armada Hoffler announced upsizing and pricing of public offering of common stock.</li>
<li>Sonos, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SONO#NASDAQ">SONO</a>) shares fell 6% to $11.86 in pre-market trading.</li>
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Shares of US-listed Chinese companies are trading lower amid a possible selloff following yesterday's strength after China's Central Bank announced a new stimulus package.

U.S. stocks were lower, with the Dow Jones index falling around 200 points on Friday.
Shares of Wave Life Sciences Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WVE#NASDAQ">WVE</a>) rose sharply during Tuesday's session after the company announced interim data from its ongoing Phase 2 FORWARD-53 study of WVE-N531 for <a href="https://www.benzinga.com/quote/WVE/news">Duchenne muscular dystrophy.</a>
Wave Life Sciences shares surged 37.9% to $7.36 on Tuesday.
Here are some other big stocks recording gains in today's session.
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<li>Liberty Broadband Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LBRDA#NASDAQ">LBRDA</a>) gained 23.8% to $74.06 after the company announced that it submitted a counterproposal to charter for the proposed business combination.</li>
<li>Kanzhun Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BZ#NASDAQ">BZ</a>) gained 15% to $14.64. Shares of US-listed Chinese companies traded higher after China Central Bank announced a new stimulus package.</li>
<li>Bilibili Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BILI#NASDAQ">BILI</a>) surged 12.7% to $17.94.</li>
<li>Tencent Music Entertainment Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TME#NASDAQ">TME</a>) gained 12.2% to $11.43. Shares of US-listed Chinese companies traded higher after China Central Bank announced a new stimulus package.</li>
<li>Dada Nexus Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DADA#NASDAQ">DADA</a>) shares jumped 11.9% to $1.41. Shares of US-listed Chinese companies traded higher after China Central Bank announced a new stimulus package.</li>
<li>Ramaco Resources, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/METC#NASDAQ">METC</a>) surged 10% to $11.15.</li>
<li>Ivanhoe Electric Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IE#NYSE">IE</a>) gained 10.7% to $8.21.</li>
<li>iQIYI, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IQ#NASDAQ">IQ</a>) jumped 10% to $2.35.</li>
<li>JD.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JD#NASDAQ">JD</a>) gained 9.2% to $32.49.</li>
<li>NIO Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>) gained 8.6% to $5.78. Shares of US-listed Chinese companies traded higher after China Central Bank announced a new stimulus package.</li>
<li>SBC Medical Group Holdings Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBC#NASDAQ">SBC</a>) rose 8.2% to $6.22. Shares of US-listed Chinese companies traded higher after China Central Bank announced a new stimulus package.</li>
<li>Alcoa Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AA#NYSE">AA</a>) gained 7.5% to $36.80.</li>
<li>Li Auto Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>) climbed 7.5% to $23.86. Shares of US-listed Chinese companies traded higher after China Central Bank announced a new stimulus package.</li>
<li>GDS Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GDS#NASDAQ">GDS</a>) gained 7% to $21.94.</li>
<li>Las Vegas Sands Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LVS#NYSE">LVS</a>) shares rose 5.7% to $44.53.</li>
<li>Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) shares gained 2.5% to $256.20. The catalyst that is potentially offering support on Tuesday is data out of China that showed that insured registered for Tesla vehicles remained healthy for the recent reporting week.</li>
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Shares of US-listed Chinese companies are trading higher after China Central Bank announced a new stimulus package.

<h4>Key Takeaways:</h4>
<ul>
<li>Shares of Kanzhun fell more than 20% in New York after it issued quarterly results that barely met earlier guidance despite strong profit and revenue growth</li>
<li>The company&rsquo;s core business customers are less willing to pay for its recruitment services as job seekers flood the market</li>
</ul>
By Edith Terry
It almost looks like investors don&rsquo;t like good news. At least that&rsquo;s how it appeared when leading employment services provider&nbsp;Kanzhun Ltd.&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bz#NASDAQ">BZ</a>) announced its&nbsp;<a href="https://www.globenewswire.com/news-release/2024/08/28/2936891/0/en/KANZHUN-LIMITED-Announces-Second-Quarter-2024-Financial-Results.html">second-quarter earnings</a>&nbsp;last week that looked like a winner by most standards.
The operator of China&rsquo;s largest digital recruitment platform reported second-quarter revenue of 1.9 billion yuan ($264 million), up 28.8% from a year earlier. Its net income of 417 million yuan was also up by a healthy 34.8%, and average monthly active users, including both employers and job seekers, rose 25.2% to 54.6 million.
Despite those upbeat numbers, Kanzhun&rsquo;s shares promptly tumbled in both Hong Kong the U.S. after the announcement, including a 21% drop in New York. Why the stampede for the exits?
One reason may be that Kanzhun&rsquo;s revenue came in at the low end of its earlier guidance for between 1.91 billion yuan and 1.96 billion yuan. The second-quarter growth rate also represented a slowdown from the 33.4% growth in the first quarter, when the figure reached 1.7 billion yuan.
But coming in at the bottom end of guidance is only part of the reason for investor skepticism. The company has gone through its shares of ups and downs since its U.S. listing in June 2021 and Hong Kong IPO in December 2022. The stock more than doubled shortly after its U.S. listing, but has been on a steady downward track since then. It made its Hong Kong IPO amid fears of a potential U.S. delisting and a forced six-month pause in its new user signups after a tussle with China&rsquo;s cybersecurity watchdog.
It&rsquo;s quite possible that some investors were scared in these latest results by the cautious note sounded by Kanzhun founder Zhao Peng, who also uses the name Jonathan.
&ldquo;During challenging times, confidence is crucial for everyone, no matter co-investors, co-employees, or potential investors, or prospective talent,&rdquo; Zhao said on the company&rsquo;s earnings call. &ldquo;In tough times, confidence is more valuable than growth. Ensuring profitability for the year will help to sustain confidence in the company, which can be achieved through further refinement of our management.&rdquo;
Investors were also likely concerned at Zhao&rsquo;s observation that recruitment demand weakened in the latter half of the second quarter due to the growing number of job seekers in the market. &ldquo;There were relatively fewer enterprise users and more job seekers in the market,&rdquo; he said. &ldquo;Most enterprise users found it easier to hire a project team that it took three months to fill all the positions in the past, and now only takes two months. This reduces the desire of enterprise users to spend money.&rdquo;
Zhao also promised to expand Kanzhun&rsquo;s $200 million share buyback program, announced in March. True to his word, the company announced a new $150 million buyback program the next day, helping the stock regain some of its earlier losses.
<h3>Strong Growth Targets</h3>
Kanzhun is targeting a full-year non-GAAP operating profit of 2.3 billion yuan, which would be up 40% year-on-year and come through greater economies of scale and cost management, CFO Zhang Yu said on the earnings call. The company is also aiming to sign up 40 million to 45 million new users for the year &ndash; a target that looks quite attainable after it signed up 28 million new users in the first half.
Like many companies in China, Kanzhun recorded steep losses during the pandemic in 2021 and 2022, as the recruitment industry cratered and job mobility all but stopped in the services industry and for new graduates. The unemployment rate for the latter rose to 19.9% in the summer of 2022, giving employers the upper hand ever since.
Kanzhun is China&rsquo;s leader in its core business of selling employment services to businesses. In 2022 its BOSS Zhipin platform had 53.7% of the hiring market with employers, and 46.3% with job seekers, according to data platform Statista. As of the end of April 2024, it had served a cumulative 190 million verified users, including 14 million enterprises.
Online recruitment services to enterprise customers accounted for 1.89 billion yuan in the company&rsquo;s second-quarter revenue, or nearly all of its total, while fees from job seekers made up the rest. Its number of paid enterprise users during the 12 months to June 30 increased by 31% year-on-year to 5.9 million.
Zhao said he would focus on new growth drivers to diversify the company&rsquo;s business, including stepping up blue-collar recruitment and overseas business.
The pivot to more blue collar recruitment comes as China faces dire shortages of skilled manufacturing and logistics workers. The Ministry of Human Resources and Social Security estimated that nearly 30 million manufacturing jobs will go unfilled by 2025. And according to one source, the cost of finding and hiring such workers was more than 10,000 yuan per worker.
Despite its attempts to tap into that market, Kanzhun&rsquo;s blue-collar strategy has gotten off to a rocky start. In March 2024, it acquired 77% of WD Technology Investment Group, which Zhao previously described as &ldquo;the leading manufacturing talent delivery program in China.&rdquo; In the first quarter, the number and growth rate of new blue-collar users for Kanzhun exceeded its white-collar segment.
But by the second quarter, Zhao described the situation as more complicated. &ldquo;The complex relationship between factories, workers, platforms and agents has made it challenging for online platforms to serve blue collar&rdquo; employers and job applicants, he said.
Part of the problem has been rogue agents who falsify information, which Kanzhun has addressed by introducing a system of identifying &ldquo;trustworthy&rdquo; agents. Seasonal issues also affect the business, with hiring reaching a height during the Lunar New Year early each year and then falling back after that.
Nonetheless, factory recruitment, followed by logistics, are outperforming all other industries, Zhao said. &ldquo;We believe this is the first real chance for the online recruitment platform to go into the blue-collar manufacturing industry and make some real money,&rdquo; he added.
With its trailing price to earnings (P/E) ratio of 28, Kanzhun is not cheap but is comparable to smaller peer&nbsp;Tongdao Liepin&nbsp;(6100.HK), which trades at 24. Global giants like&nbsp;Adecco&nbsp;(ADIA.F) and&nbsp;Kelly Services&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/kelya#NASDAQ">KELYA</a>) trade lower with P/E ratios of 17 and 16, respectively, showing the Chinese companies are still valued notably higher than their larger global peers. But the premium gap could narrow if Chinese companies rein in their spending on hiring as the nation&rsquo;s economy slows.
This article is from an unpaid external contributor. It does not represent Benzinga&#39;s reporting and has not been edited for content or accuracy.

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Kanzhun Works Investors Into Selling Frenzy With Talk Of 'Challenging Times'

Barclays analyst Jiong Shao maintains Kanzhun (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BZ#NASDAQ">BZ</a>) with a Overweight and lowers the price target from $27 to $14.

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U.S. stocks were higher, with the Dow Jones index gaining around 400 points on Thursday.
Shares of Build-A-Bear Workshop, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBW#NYSE">BBW</a>) rose sharply during Thursday&#8217;s session following better-than-expected <a href="https://www.benzinga.com/news/earnings/24/08/40624005/build-a-bear-workshops-q2-earnings-beat-sees-strong-improvement-in-q3-ytd-web-demand">second-quarter financial results.</a>
Build-A-Bear reported second-quarter revenue growth of 2.4% Y/Y to $111.8 million, beating the analyst consensus of $108.5 million. EPS of 64 cents (+12.3% Y/Y), beating the Wall Street view of 57 cents.
Build-A-Bear shares jumped 19.7% to $33.37 on Thursday.
Here are some other big stocks recording gains in today's session.
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<li>Affirm Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AFRM#NASDAQ">AFRM</a>) shares jumped 33.2% to $42.06 following strong fourth-quarter earnings and upbeat first-quarter guidance.</li>
<li>Eos Energy Enterprises, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EOSE#NASDAQ">EOSE</a>) gained 22.2% to $2.6750 after the company announced it achieved first performance milestones related to Carberus Capital Management&#8217;s investment, allowing the company to draw an additional $30 million from the delayed draw term loan.</li>
<li>Nutanix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTNX#NASDAQ">NTNX</a>) gained 20.9% to $63.22 after the company reported better-than-expected fourth-quarter financial results and issued FY25 revenue guidance above estimates.</li>
<li>Eliem Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ELYM#NASDAQ">ELYM</a>) jumped 20.1% to $7.45.</li>
<li>Iris Energy Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IREN#NASDAQ">IREN</a>) gained 19.6% to $8.89 after the company announced a year-over-year increase in FY24 Bitcoin mining revenue.</li>
<li>Polestar Automotive Holding UK PLC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PSNY#NASDAQ">PSNY</a>) rose 15.7% to $1.0950 after the company reported a quarter-over-quarter increase in second-quarter deliveries.</li>
<li>Best Buy Co., Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBY#NYSE">BBY</a>) gained 14.5% to $100.49 after the company reported better-than-expected quarterly financial results raised its FY25 earnings guidance.</li>
<li>iRhythm Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IRTC#NASDAQ">IRTC</a>) rose 13.2% to $77.59. iRhythm Technologies expanded global reach with the launch of Zio&#xAE; Cardiac Arrhythmia Monitoring Service in Austria, the Netherlands, Switzerland, and Spain.</li>
<li>Astera Labs, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALAB#NASDAQ">ALAB</a>) gained 12% to $48.75.</li>
<li>The Cooper Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COO#NYSE">COO</a>) rose 11.1% to $105.00 after the company reported better-than-expected third-quarter financial results and issued FY25 guidance above estimates. Also, Baird and Wells Fargo raised their respective price targets on the stock.</li>
<li>Kanzhun Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BZ#NASDAQ">BZ</a>) gained 10.1% to $12.06 after the company announced it authorized an additional repurchase of $150 million of its shares in conjunction with its existing $200 million buyback.</li>
<li>Veeva Systems Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VEEV#NYSE">VEEV</a>) climbed 8.8% to $216.85 after the company reported better-than-expected second-quarter financial results and issued FY25 adjusted EPS guidance above estimates.</li>
<li>GameStop Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) rose 8.5% to $21.62. The company issued a notice to terminate its $250 million credit facility.</li>
<li>Stevanato Group S.p.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STVN#NYSE">STVN</a>) gained 8.3% to $21.94.</li>
<li>Li Auto Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>) rose 6.5% to $18.97 after B of A maintained a Buy rating on the stock and raised its price target from $30 to $31.</li>
<li>Canadian Imperial Bank of Commerce (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CM#NYSE">CM</a>) gained 6% to $57.81 after the company reported better-than-expected quarterly financial results.</li>
<li>West Pharmaceutical Services, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WST#NYSE">WST</a>) rose 6% to $315.43.</li>
<li>Nokia Oyj (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOK#NYSE">NOK</a>) gained 5.8% to $4.4350 following a report suggesting that Samsung has an interest in the company&#8217;s mobile networks assets.</li>
<li>NIO Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>) gained 5.7% to $3.9127.</li>
<li>Arm Holdings plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>) gained 5.6% to $132.39.</li>
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VEEV

Build-A-Bear Workshop Posts Upbeat Earnings, Joins Affirm, Nutanix, Cooper Companies, Veeva Systems And Other Big Stocks Moving Higher On Thursday

KANZHUN shares are trading higher after the company announced it authorized an additional repurchase of $150 million of its shares in conjunction with its existing $200 million buyback.

Buybacks

KANZHUN LIMITED Authorizes New Share Repurchase Program Of Up To $150M; Will Operate In Conjunction With Existing Repurchase Program Of Up To $200M

KANZHUN shares are trading lower after the company reported worse-than-expected Q2 revenue results.

Guidance

KANZHUN Expects Q3 Revenues Of RMB1.90B-RMB1.92B, Representing YoY Rise Of 18.2%-19.5%

Kanzhun (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BZ#NASDAQ">BZ</a>) reported quarterly earnings of $0.22 per share which beat the analyst consensus estimate of $0.21 by 4.76 percent. This is a 29.41 percent increase over earnings of $0.17 per share from the same period last year. The company reported quarterly sales of $263.75 million which missed the analyst consensus estimate of $269.08 million by 1.98 percent. This is a 28.56 percent increase over sales of $205.15 million the same period last year.

Earnings

Earnings Beats

Earnings Misses

Kanzhun Q2 Adj $0.22 Beats $0.21 Estimate, Sales $263.75M Miss $269.08M Estimate

The Company repurchased over 2.12 million ordinary shares with a total value of USD15.8 million for the past week. Over the past four months since March 27, 2024, the Company has repurchased approximately 5 million ordinary shares with a total value of USD44.0 million. 
BOSS Zhipin is the largest online recruitment platform in China. Founded in 2014, BOSS Zhipin is a pioneer in introducing a next-generation Direct Recruitment Model, which is transforming China&#39;s online recruitment industry. The mobile-native product promotes instant direct communication between recruiters and job seekers and delivers accurate matching results through its proprietary recommendation algorithms powered by big data insights.
Benefiting from the unique business model and strong technology capability, BOSS Zhipin continuously delivered solid performance. On May 21, 2024, the Company announced its unaudited financial results for the quarter ended March 31, 2024. Revenues reached RMB1,703.8 million in the&nbsp;first quarter&nbsp;of 2024, an increase of&nbsp;33%&nbsp;from RMB1,277.5 million for the same quarter of 2023. Adjusted net income remained healthy, totaled RMB530.7 million, an increase of&nbsp;117%&nbsp;from RMB 245.0 million for the same quarter of 2023.

KANZHUN Says It Repurchased Ordinary Shares Continuously Over Past Week, Total Of $44M Of Shares Bought Back Under Current Repurchase Program

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YNDX

Shares of companies within the broader communication services sector are trading lower possibly in sympathy with overall market weakness.

Shares of General Dynamics Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GD#NYSE">GD</a>) fell sharply during Wednesday's session after the company reported worse-than-expected <a href="https://www.benzinga.com/news/earnings/24/07/39934099/general-dynamics-hits-high-revenue-but-faces-earnings-hiccup-in-q2-details">second-quarter EPS results</a>.
Revenue for the quarter increased 18% year-over-year to $11.976 billion, beating the consensus of $11.438 billion. EPS of $3.26 (up 20.7% YoY) missed the consensus of $3.29, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
General Dynamics shares declined 5.2% to $279.26 on Wednesday.
Here are some other stocks moving in today&#8217;s mid-day session.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>NuZee, Inc.  (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NUZE#NASDAQ">NUZE</a>) jumped 192% to $3.01.</li>
<li>Dermata Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DRMA#NASDAQ">DRMA</a>) rose 142.4% to $3.0799 after falling over 22% on Tuesday.</li>
<li>Selina Hospitality PLC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SLNA#NASDAQ">SLNA</a>) surged 134% to $0.0609.</li>
<li>Bone Biologics Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BBLG#NASDAQ">BBLG</a>) gained 86% to $2.3300.</li>
<li>Carbon Revolution Public Limited Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CREV#NASDAQ">CREV</a>) gained 74.5% to $10.82.</li>
<li>Pieris Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PIRS#NASDAQ">PIRS</a>) jumped 73.4% to $13.77 after the company announced that the company entered into a definitive merger agreement with Palvella Therapeutics.</li>
<li>Sangamo Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SGMO#NASDAQ">SGMO</a>) gained 50% to $0.60 after licensing partner Pfizer&#8217;s Phase 3 AFFINE trial evaluating giroctocogene fitelparvovec met its primary endpoint.</li>
<li>Alpha Teknova, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TKNO#NASDAQ">TKNO</a>) gained 28% to $3.2212.</li>
<li>KORE Group Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KORE#NASDAQ">KORE</a>) gained 21.8% to $2.84.</li>
<li>NaaS Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NAAS#NASDAQ">NAAS</a>) rose 20.5% to $6.87 after reporting unaudited 2024 second quarter and first half financial results.</li>
<li>PROG Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRG#NYSE">PRG</a>) climbed 20.4% to $41.71 after the company reported better-than-expected second-quarter financial results. Also, the company raised its FY24 guidance above estimates.</li>
<li>QXO, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QXO#NASDAQ">QXO</a>) gained 19.4% to $94.69. The company on Monday announced a private placement financing.</li>
<li>Silynxcom Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SYNX#NYSE">SYNX</a>) rose 18.4% to $3.71. Silynxcom received $815,000 in orders from Israel Defense Forces since July 2024.</li>
<li>NewGenIvf Group Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NIVF#NASDAQ">NIVF</a>) shares gained 16.4% to $1.0009 after the company announced steady progress in its due diligence efforts in its proposed reverse merger with COVIRIX Medical and anticipates completion by the end of August 2024.</li>
<li>Flex Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FLEX#NASDAQ">FLEX</a>) gained 10.9% to $32.96 after the company reported better-than-expected second-quarter financial results.</li>
<li>Manhattan Associates, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MANH#NASDAQ">MANH</a>) climbed 10.5% to $249.78 after the company reported better-than-expected second-quarter financial results.</li>
<li>Group 1 Automotive, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GPI#NYSE">GPI</a>) gained 9.6% to $333.95 after the company reported better-than-expected second-quarter adjusted EPS results.</li>
<li>Enphase Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>) rose 9.2% to $113.18 after the company reported second-quarter financial results.</li>
<li>Allarity Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALLR#NASDAQ">ALLR</a>) gained 8.7% to $0.1809. Allarity Therapeutics revealed on Monday it received a "Wells Notice" from the U.S. Securities and Exchange Commission (SEC).</li>
<li>Mattel, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAT#NASDAQ">MAT</a>) gained 7.9% to $18.61 after the company reported better-than-expected second-quarter adjusted EPS results.</li>
<li>Seagate Technology Holdings plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STX#NASDAQ">STX</a>) shares surged 7.5% to $113.33 after the company reported better-than-expected fourth-quarter financial results and issued first-quarter guidance above estimates.</li>
<li>Alkermes plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALKS#NASDAQ">ALKS</a>) gained 7% to $26.69 after the company reported better-than-expected <a>second-quarter </a>financial results.</li>
<li>Tenet Healthcare Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THC#NYSE">THC</a>) gained 6.8% to $148.17 after the company reported better-than-expected second-quarter financial results and the company and raised its FY24 guidance above estimates. Also, the company announced it authorized a $1.5 billion share buyback.</li>
<li>AT&amp;T Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>) gained 3.1% to $18.78 following second-quarter earnings.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>Azitra, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AZTR#NYSE">AZTR</a>) shares dipped 74.4% to $1.27. Azitra announced the pricing of $10.0 million public offering.</li>
<li>Next Technology Holding Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXTT#NASDAQ">NXTT</a>) fell 58% to $2.42.</li>
<li>Bausch Health Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHC#NYSE">BHC</a>) dipped 43.8% to $4.25.</li>
<li>Nuwellis, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NUWE#NASDAQ">NUWE</a>) fell 37.2% to $2.6199 after the company announced the pricing of a $2 million public offering of 469,340 common shares at $4.24 a share.</li>
<li>Agape ATP Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATPC#NASDAQ">ATPC</a>) dipped 34.2% to $0.1414.</li>
<li>Lamb Weston Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LW#NYSE">LW</a>) declined 26.9% to $57.46 after the company reported worse-than-expected quarterly financial results. Also, the company issued its FY25 EPS guidance below estimates.</li>
<li>Conn&#8217;s, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CONN#NASDAQ">CONN</a>) shares fell 26.7% to $0.3717 as the company announced plans to close 71 locations across 13 states.</li>
<li>Vintage Wine Estates, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VWE#NASDAQ">VWE</a>) fell 24.5% to $0.0868 after the company announced bankruptcy filing and voluntary delisting and SEC deregistration.</li>
<li>Snow Lake Resources Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LITM#NASDAQ">LITM</a>) declined 24.2% to $0.7350 after the company issued an update on Black Lake Uranium Project.</li>
<li>AtlasClear Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATCH#NASDAQ">ATCH</a>) shares declined 23.8% to $0.4228 after gaining 11% on Tuesday.</li>
<li>Verastem, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VSTM#NASDAQ">VSTM</a>) shares fell 22.7% to $2.7750 after the company reported pricing of $55.0 million public offering of common stock, warrants and pre-funded warrants.</li>
<li>Sage Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SAGE#NASDAQ">SAGE</a>) dipped 17.8% to $10.75 after the Phase 2 KINETIC 2 study of SAGE-324 did not demonstrate a statistically significant dose-response relationship on the primary endpoint.</li>
<li>Hawaiian Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HA#NASDAQ">HA</a>) dipped 13% to $11.33.</li>
<li>SFL Corporation Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SFL#NYSE">SFL</a>) shares fell 12.3% to $12.23 after the company announced an offering of 8 million common shares.</li>
<li>Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) shares fell 12% to $216.78. Tesla reported weaker-than-expected earnings for its second quarter, while sales topped estimates. The company reported second-quarter deliveries of 443,956 vehicles and production of 410,831 vehicles, down 5% and 14% year-over-year, respectively.</li>
<li>Karooooo Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KARO#NASDAQ">KARO</a>) dipped 11.3% to $31.90 as the company announced the launch of secondary public offering of ordinary shares.</li>
<li>Bausch + Lomb Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLCO#NYSE">BLCO</a>) fell 10.2% to $15.29.</li>
<li>Kanzhun Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BZ#NASDAQ">BZ</a>) dipped 9.5% to $14.41.</li>
<li>Chijet Motor Company, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CJET#NASDAQ">CJET</a>) fell 9.3% to $4.61 after jumping 55% on Tuesday.</li>
<li>Allegro MicroSystems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALGM#NASDAQ">ALGM</a>) dipped 9.1% to $25.14 after the company announced a primary offering of 25 million shares.</li>
<li>Geron Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GERN#NASDAQ">GERN</a>) shares declined 8.8% to $4.2150 after the company announced the departure of CCO Anil Kapur.</li>
<li>The Trade Desk, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTD#NASDAQ">TTD</a>) fell 8.4% to $92.45.</li>
<li>Roku, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROKU#NASDAQ">ROKU</a>) fell 8.2% to $56.97.</li>
<li>Deutsche Bank Aktiengesellschaft (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DB#NYSE">DB</a>) shares fell 8% to $15.69 following second-quarter earnings.</li>
<li>NANO Nuclear Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NNE#NASDAQ">NNE</a>) declined 8% to $14.25.</li>
<li>Weatherford International plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WFRD#NASDAQ">WFRD</a>) dipped 7.6% to $123.57 after the company reported worse-than-expected second-quarter financial results.</li>
<li>Roper Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ROP#NYSE">ROP</a>) fell 7.4% to $532.08 after the company reported worse-than-expected second-quarter sales results and issued third-quarter adjusted EPS guidance below estimates.</li>
<li>Volato Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOAR#NYSE">SOAR</a>) shares fell 7.1% to $0.5479 after gaining around 23% on Tuesday.</li>
<li>Fortive Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FTV#NYSE">FTV</a>) fell 6.9% to $71.36 after the company reported worse-than-expected second-quarter sales results and issued FY24 sales guidance below estimates.</li>
<li>Ulta Beauty, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ULTA#NASDAQ">ULTA</a>) fell 5.5% to $367.84 after Piper Sandler downgraded the stock from an Overweight to Neutral and lowered its price target from $494 to $404.</li>
<li>Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) shares declined 4.1% to $174.29. Alphabet reported upbeat earnings and sales results for its second quarter on Tuesday. The company also announced a cash dividend of 20 cents per share to be paid on Sept.16 to shareholders of record as of Sept. 9.</li>
<li>Visa Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/V#NYSE">V</a>) shares fell 3.8% to $254.72 following third-quarter results.</li>
</ul>
Now Read This:  
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/07/39932485/jim-cramer-calls-axsome-a-double-or-nothing-stock-says-sap-is-incredible">Cramer Calls Axsome A &#8216;Double Or Nothing Stock,&#8217; Says SAP Is &#8216;Incredible</a><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/07/39932485/jim-cramer-calls-axsome-a-double-or-nothing-stock-says-sap-is-incredible">&#8216;</a></li>
</ul>

ALGM

ALKS

ALLR

ATPC

AZTR

BBLG

BLCO

CJET

CONN

CREV

DRMA

ENPH

FLEX

GERN

GOOGL

KARO

KORE

LITM

MANH

NAAS

NIVF

NUWE

NUZE

Next Technology Holding Inc. - Ordinary Shares

NXTT

PIRS

SAGE

SGMO

SLNA

SOAR

SYNX

TKNO

ULTA

VSTM

Vintage Wine Estates, Inc. - Common Stock

WFRD

Why General Dynamics Shares Are Trading Lower? Here Are Other Stocks Moving In Wednesday's Mid-Day Session

U.S. stock futures were lower this morning, with the Nasdaq futures dipping around 200 points on Wednesday.
Shares of Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) fell sharply in today's pre-market trading following <a href="https://www.benzinga.com/news/earnings/24/07/39918390/tesla-q2-earnings-highlights-revenue-beat-eps-miss-robotaxi-update-2024-growth-rate-to-be-notably-l">second-quarter results</a>.
Tesla reported second-quarter revenue of $25.5 billion, up 2% year-over-year. The revenue total beat a Street consensus estimate of $24.73 billion, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. The company reported earnings per share of 52 cents in the second quarter, down 43% year-over-year. The earnings per share missed a Street consensus estimate of 62 cents per share.
The company reported second-quarter deliveries of 443,956 vehicles and production of 410,831 vehicles, down 5% and 14% year-over-year, respectively.
Tesla shares dipped 7.2% to $228.56 in the pre-market trading session.
Here are some big stocks recording losses in today's pre-market trading session.
<ul>
<li>Wheels Up Experience Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UP#NYSE">UP</a>) shares dipped 9.8% to $3.00 in pre-market trading. Wheels Up Experience will release its second quarter financial results on Thursday, Aug. 8.</li>
<li>SFL Corporation Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SFL#NYSE">SFL</a>) shares fell 9.3% to $12.65 in pre-market trading after the company announced an offering of 8 million common shares.</li>
<li>Serve Robotics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SERV#NASDAQ">SERV</a>) shares declined 7.5% to $8.70 in pre-market trading after gaining 7% on Tuesday.</li>
<li>Deutsche Bank Aktiengesellschaft (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DB#NYSE">DB</a>) shares fell 7.5% to $15.77 in pre-market trading following second-quarter earnings.</li>
<li>Geron Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GERN#NASDAQ">GERN</a>) shares declined 6.9% to $4.30 in pre-market trading after the company announced the departure of CCO Anil Kapur.</li>
<li>Kanzhun Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BZ#NASDAQ">BZ</a>) shares fell 5.8% to $15.00 in pre-market trading.</li>
<li>Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) shares declined 3.2% to $176.00 in pre-market trading. Alphabet reported upbeat earnings and sales results for its second quarter on Tuesday. The company also announced a cash dividend of 20 cents per share to be paid on Sept.16 to shareholders of record as of Sept. 9.</li>
<li>Visa Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/V#NYSE">V</a>) shares fell 3% to $256.94 in pre-market trading following third-quarter results.</li>
</ul>
Now Read This: 
<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/07/39924560/us-stocks-end-lower-as-investor-optimism-decreases-ahead-of-big-tech-earnings">US Stocks End Lower As Investor Optimism Decreases Ahead Of Big Tech Earnings</a></li>
</ul>

SERV

Tesla Posts Weak Earnings, Joins Visa, Deutsche Bank And Other Big Stocks Moving Lower In Wednesday's Pre-Market Session

The most oversold stocks in the communication services sector presents an opportunity to buy into undervalued companies. `
The RSI is a momentum indicator, which compares a stock&#8217;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#8217;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the <a href="https://www.benzinga.com/topic/rsi">RSI is below 30</a>, according to <a href="https://pro.benzinga.com/">Benzinga Pro</a>.
Here's the latest list of major oversold players in this sector, having an RSI near or below 30.
<h3 class="wp-block-heading">Walt Disney Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>)</h3>
<ul>
<li>On July 22, India's antitrust body has raised concerns about the $8.5 billion merger between Disney's media assets and Reliance Industries. The company's stock fell around 11% over the past month and has a <a href="https://www.benzinga.com/quote/DIS">52-week low of $78.73</a>.</li>
<li>RSI Value: 20.76</li>
<li>DIS Price Action: Shares of Disney fell 3.4% to close at $90.94 on Tuesday.</li>
<li>Benzinga Pro's real-time newsfeed alerted to <a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent072424&amp;t=be2bearmibe3na1">latest Disney news</a>.</li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent072424&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="671" height="711" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/24074736/Screenshot-2024-07-24-at-5.17.26-PM.png" alt="" class="wp-image-453821" style="width:422px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/24074736/Screenshot-2024-07-24-at-5.17.26-PM.png 671w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/24074736/Screenshot-2024-07-24-at-5.17.26-PM-283x300.png 283w" sizes="(max-width: 671px) 100vw, 671px" /></a></figure>
<h3 class="wp-block-heading">IQIYI Inc &#8211; ADR (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IQ#NASDAQ">IQ</a>)&nbsp;&nbsp;</h3>
<ul>
<li>On July 23, HSBC analyst Charlene Liu downgraded iQIYI from Hold to Reduce and lowered the price target from $4.7 to $3. The company's stock fell around 15% over the past five days. It <a href="https://www.benzinga.com/quote/IQ">has a 52-week low</a> of $3.06.</li>
<li>RSI Value: 26.29</li>
<li>IQ Price Action: Shares of IQIYI fell 6.5% to close at $3.16 on Tuesday.</li>
<li>Benzinga Pro's charting tool helped identify the <a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent072424&amp;t=be2bearmibe3na1">trend in IQIYI stock</a>.</li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent072424&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="690" height="753" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/24074814/Screenshot-2024-07-24-at-5.18.08-PM.png" alt="" class="wp-image-453822" style="width:442px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/24074814/Screenshot-2024-07-24-at-5.18.08-PM.png 690w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/24074814/Screenshot-2024-07-24-at-5.18.08-PM-275x300.png 275w" sizes="(max-width: 690px) 100vw, 690px" /></a></figure>
<h3 class="wp-block-heading">Kanzhun Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BZ#NASDAQ">BZ</a>)</h3>
<ul>
<li>On May 21, Kanzhun posted upbeat quarterly results. Mr. Jonathan Peng Zhao, Founder, Chairman and Chief Executive Officer of the Company, remarked, &#8220;We are pleased to have achieved a strong start in the first quarter, with all financial metrics exceeding management&#8217;s expectations. In the meantime, our user scale and number of paid enterprise customers continue to grow.&#8221; The company's stock dipped around 22% over the past month and has a 52-week <a href="https://www.benzinga.com/quote/BZ">low of $12.57</a>.</li>
<li>RSI Value: 24.19</li>
<li>BZ Price Action: Shares of Kanzhun fell 0.8% to close at $15.93 on Tuesday.</li>
<li>Benzinga Pro's signals feature notified of a potential <a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent072424&amp;t=be2bearmibe3na1">breakout in BZ shares</a>.</li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent072424&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="661" height="737" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/24074844/Screenshot-2024-07-24-at-5.18.37-PM.png" alt="" class="wp-image-453823" style="width:425px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/24074844/Screenshot-2024-07-24-at-5.18.37-PM.png 661w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/24074844/Screenshot-2024-07-24-at-5.18.37-PM-269x300.png 269w" sizes="(max-width: 661px) 100vw, 661px" /></a></figure>
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Analysts' ratings for Kanzhun (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BZ#NASDAQ">BZ</a>) over the last quarter vary from bullish to bearish, as provided by 4 analysts.
The following table provides a quick overview of their recent ratings, highlighting the changing sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
The 12-month price targets, analyzed by analysts, offer insights with an average target of $25.0, a high estimate of $27.00, and a low estimate of $23.50. Observing a 11.96% increase, the current average has risen from the previous average price target of $22.33. 
<img src="https://www.benzinga.com/files/images/story/2024/1716397257_0.png" alt="price target chart" />
<h2>Exploring Analyst Ratings: An In-Depth Overview</h2>
A clear picture of Kanzhun's perception among financial experts is painted with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Wei Xiong</td>
<td>UBS</td>
<td>Raises</td>
<td>Neutral</td>
<td>$23.50</td>
<td>$22.00</td>
</tr>
<tr>
<td>Allen Li</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Overweight</td>
<td>$24.50</td>
<td>$23.00</td>
</tr>
<tr>
<td>Jiong Shao</td>
<td>Barclays</td>
<td>Raises</td>
<td>Overweight</td>
<td>$27.00</td>
<td>$22.00</td>
</tr>
<tr>
<td>Jin Yoon</td>
<td>New Street Research</td>
<td>Announces</td>
<td>Buy</td>
<td>$25.00</td>
<td>-</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Kanzhun. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Offering a comprehensive view, analysts assess stocks qualitatively, spanning from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Kanzhun compared to the broader market.</li>
<li>Price Targets: Analysts navigate through adjustments in price targets, providing estimates for Kanzhun's future value. Comparing current and prior targets offers insights into analysts' evolving expectations.</li>
</ul>
Assessing these analyst evaluations alongside crucial financial indicators can provide a comprehensive overview of Kanzhun's market position. Stay informed and make well-judged decisions with the assistance of our Ratings Table.
<a href="https://www.benzinga.com/quote/BZ/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Kanzhun analyst ratings.</a>
<h2>Unveiling the Story Behind Kanzhun</h2>
Kanzhun's Boss Zhipin job platform connects job seekers and employers. Boss Zhipin is China's largest online recruitment platform based on average number of monthly active users, or MAU, and was established in 2014. Kanzhun earns revenue by providing services to enterprise customers primarily through its mobile app, which promotes direct messaging between recruiters and workers and operates on a recommendation basis powered by artificial intelligence. The platform specializes in transportation, logistics, construction, and service-based industries. About 85% of the companies looking to hire are small and medium-size enterprises. Its main competitors are 58.com, 51job, and Zhilian Zhaopin. Tencent has a 9.2% stake in Kanzhun.
<h3>Understanding the Numbers: Kanzhun's Finances</h3>
Market Capitalization Analysis: Reflecting a smaller scale, the company's market capitalization is positioned below industry averages. This could be attributed to factors such as growth expectations or operational capacity.
Positive Revenue Trend: Examining Kanzhun's financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 46.01% as of 31 December, 2023, showcasing a substantial increase in top-line earnings. As compared to competitors, the company surpassed expectations with a growth rate higher than the average among peers in the Communication Services sector.
Net Margin: Kanzhun's net margin excels beyond industry benchmarks, reaching 20.96%. This signifies efficient cost management and strong financial health.
Return on Equity (ROE): Kanzhun's ROE stands out, surpassing industry averages. With an impressive ROE of 2.46%, the company demonstrates effective use of equity capital and strong financial performance.
Return on Assets (ROA): Kanzhun's financial strength is reflected in its exceptional ROA, which exceeds industry averages. With a remarkable ROA of 1.88%, the company showcases efficient use of assets and strong financial health.
Debt Management: With a below-average debt-to-equity ratio of 0.02, Kanzhun adopts a prudent financial strategy, indicating a balanced approach to debt management.
<h2>The Basics of Analyst Ratings</h2>
Benzinga tracks 150 analyst firms and reports on their stock expectations. Analysts typically arrive at their conclusions by predicting how much money a company will make in the future, usually the upcoming five years, and how risky or predictable that company's revenue streams are.
Analysts attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish their ratings on stocks. Analysts typically rate each stock once per quarter or whenever the company has a major update.
Beyond their standard evaluations, some analysts contribute predictions for metrics like growth estimates, earnings, and revenue, furnishing investors with additional guidance. Users of analyst ratings should be mindful that this specialized advice is shaped by human perspectives and may be subject to variability.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Evaluating Kanzhun: Insights From 4 Financial Analysts

UBS analyst Wei Xiong maintains Kanzhun (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BZ#NASDAQ">BZ</a>) with a Neutral and raises the price target from $22 to $23.5.

UBS Maintains Neutral on Kanzhun, Raises Price Target to $23.5

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