BofA initiates Kanzhun stock coverage with neutral rating

BofA Securities has started covering Kanzhun Ltd. (NASDAQ:BZ) with a Neutral rating, setting a price target of $74.00. The current stock price is $15.56, with a P/E ratio of 13.34 and an appealing PEG ratio of 0.18, indicating the company is trading at a low multiple relative to its growth prospects. Kanzhun primarily operates Boss Zhipin, China's leading online recruitment platform.

However, BofA Securities analyst Miranda Zhuang warns of potential challenges in the second half of 2026 due to softening macro conditions and risks linked to artificial intelligence. These risks may accelerate as AI capabilities improve and adoption increases through AI workspace applications. Boss Zhipin is currently exploring closed-loop recruitment services, which made up 2% of first-quarter 2026 revenue.

The company is also making strides in managing its capital structure, repurchasing 777,884 ordinary shares worth approximately RMB34 million, totaling over RMB1.99 billion for the year. Other analysts have also expressed positive sentiments, with Bernstein SocGen Group upgrading Kanzhun's stock rating to Outperform and increasing the price target to $18.00, citing the company's significant revenue from blue-collar sectors. JPMorgan has also initiated coverage with an overweight rating and a price target of $20.00.