Morgan Stanley has reaffirmed its Buy rating on Kanzhun Ltd. with a price target of $24, citing the company’s sustained financial momentum and operational efficiency.
The investment bank highlighted Kanzhun’s second-quarter results, which showed a 14% year-over-year revenue increase to RMB 2.4 billion, alongside a 19% rise in adjusted operating income and a record 43.8% operating margin. Adjusted net income grew 9% excluding investment gains, while the company’s shareholder return program—including dividends and buybacks—has already surpassed 100% of its 2025 non-GAAP net income.
Morgan Stanley emphasized the company’s strong cash position relative to debt, positioning Kanzhun for continued investment in growth initiatives. Analysts also pointed to sustainable user growth, particularly from efforts to boost average revenue per paying user beginning in the second half of 2026, as a key driver for long-term revenue expansion. The bank maintained its above-average rating on the stock.
Kanzhun’s shares, listed on NASDAQ under the ticker BZ, slipped in pre-market trading on Tuesday, a move the report noted was unrelated to the earnings update. The company’s price-to-earnings ratio stands at 13.3, with a notably low PEG ratio of 0.18, according to InvestingPro data. The research platform also flagged the company’s net cash position as a financial strength, alongside seven additional ProTips and a full research report available to subscribers.
