Nextdoor (NYSE:KIND) Trading 8.2% Higher – Time to Buy?

Nextdoor Holdings, Inc. (NYSE:KIND)’s stock price shot up 8.2% during trading on Thursday . The company traded as high as $1.90 and last traded at $1.92. 471,352 shares were traded during trading, a decline of 76% from the average session volume of 1,953,211 shares. The stock had previously closed at $1.77.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Craig Hallum assumed coverage on Nextdoor in a research note on Thursday, January 30th. They issued a “buy” rating and a $4.00 price target for the company. The Goldman Sachs Group cut their price objective on Nextdoor from $3.00 to $2.50 and set a “neutral” rating for the company in a research report on Monday.

Nextdoor Stock Up 3.7 %

The firm has a market cap of $701.23 million, a price-to-earnings ratio of -5.73 and a beta of 1.07. The company’s 50-day moving average price is $2.47 and its 200-day moving average price is $2.47.

Nextdoor (NYSE:KIND) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.03) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.03). The company had revenue of $65.23 million for the quarter, compared to analysts’ expectations of $63.12 million. Nextdoor had a negative return on equity of 19.42% and a negative net margin of 53.23%. Analysts predict that Nextdoor Holdings, Inc. will post -0.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC grew its holdings in shares of Nextdoor by 77.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 10,372 shares of the company’s stock worth $25,000 after buying an additional 4,514 shares in the last quarter. AXQ Capital LP acquired a new position in Nextdoor during the fourth quarter worth about $25,000. Creative Planning acquired a new stake in Nextdoor in the 3rd quarter valued at about $28,000. SVB Wealth LLC acquired a new stake in Nextdoor in the 4th quarter valued at about $27,000. Finally, US Bancorp DE purchased a new position in Nextdoor in the 4th quarter worth approximately $29,000. Hedge funds and other institutional investors own 35.66% of the company’s stock.

About Nextdoor

Nextdoor Holdings, Inc operates a neighborhood network that connects neighbors, businesses, and public services in the United States and internationally. The company enables neighbors and organizations to get information, give and get help, and build connections. It also offers advertising solutions, designs to generate value for businesses for connection and sales expansion.