Nextdoor (NYSE:KIND) Now Covered by B. Riley

Research analysts at B. Riley assumed coverage on shares of Nextdoor (NYSE:KIND - Get Free Report) in a research report issued on Wednesday,Briefing.com Automated Import reports. The firm set a "neutral" rating and a $2.00 price target on the stock. B. Riley's price target points to a potential upside of 25.39% from the stock's current price.

A number of other brokerages also recently weighed in on KIND. Morgan Stanley downgraded shares of Nextdoor from an "equal weight" rating to an "underweight" rating and set a $1.10 price objective on the stock. in a research report on Tuesday, May 13th. The Goldman Sachs Group decreased their target price on shares of Nextdoor from $2.50 to $1.75 and set a "neutral" rating for the company in a research note on Monday, April 14th.

Nextdoor Price Performance

Shares of Nextdoor stock opened at $1.60 on Wednesday. The stock has a market cap of $610.23 million, a price-to-earnings ratio of -6.65 and a beta of 1.16. Nextdoor has a 1 year low of $1.32 and a 1 year high of $3.00. The firm's 50-day moving average is $1.51 and its 200 day moving average is $1.95.

Nextdoor (NYSE:KIND - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.01. Nextdoor had a negative return on equity of 15.75% and a negative net margin of 36.95%. The company had revenue of $54.18 million during the quarter, compared to the consensus estimate of $53.14 million. On average, equities analysts expect that Nextdoor will post -0.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in KIND. Vanguard Group Inc. grew its holdings in Nextdoor by 4.2% during the first quarter. Vanguard Group Inc. now owns 18,352,384 shares of the company's stock valued at $28,079,000 after purchasing an additional 742,578 shares during the period. Cannell Capital LLC increased its holdings in Nextdoor by 8.4% in the 4th quarter. Cannell Capital LLC now owns 6,733,574 shares of the company's stock worth $15,959,000 after acquiring an additional 524,342 shares in the last quarter. Acadian Asset Management LLC increased its holdings in Nextdoor by 103.5% in the 1st quarter. Acadian Asset Management LLC now owns 4,770,086 shares of the company's stock worth $7,288,000 after acquiring an additional 2,426,228 shares in the last quarter. Geode Capital Management LLC raised its stake in Nextdoor by 5.3% during the 4th quarter. Geode Capital Management LLC now owns 4,258,509 shares of the company's stock worth $10,095,000 after acquiring an additional 215,781 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in Nextdoor by 98.2% during the fourth quarter. Renaissance Technologies LLC now owns 3,967,200 shares of the company's stock valued at $9,402,000 after purchasing an additional 1,965,300 shares in the last quarter. 35.66% of the stock is currently owned by institutional investors.

Nextdoor Company Profile

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.

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