Barclays Lowers Kanzhun Limited Price Target to $19, Citing Q1 Guidance Below Expectations

Barclays has cut its price target on Kanzhun Limited (NASDAQ:BZ) to $19 from $28, citing Q4 results that were better than expected but Q1 guidance that came in below due to Chinese New Year seasonality. Kanzhun reported total paid enterprise customers of 6.8 million, up 11.5% YoY, and revenue of RMB2,078.5 million ($297.2 million), up 14.0% YoY. The company provides online recruitment services and value-added tools for job seekers.