Kanzhun Limited (BZ), a leading online recruitment platform in China, saw its stock price surge by an impressive 11.64% during pre-market trading on Monday, December 9th. This significant movement appears to be fueled by positive investor sentiment ahead of the company's upcoming third-quarter earnings release scheduled for Wednesday, December 11th.
According to analysts' estimates, Kanzhun is expected to report a 17.3% increase in revenue to CNY1.885 billion for the quarter ended September 30th, 2024, compared to the same period last year. Additionally, the company is projected to achieve earnings of CNY1.46 per share, reflecting the market's confidence in its financial performance.
Analysts have overwhelmingly positive views on Kanzhun, with 22 out of 24 recommendations rating the stock as a "strong buy" or "buy." The average 12-month price target for the stock stands at $16.00, indicating further upside potential from its current trading levels. These favorable analyst opinions, coupled with the anticipated strong earnings results, have likely contributed to the substantial pre-market rally in Kanzhun's stock price.
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