Nextdoor (NYSE:KIND) Stock Price Up 4.2% - Should You Buy?

Nextdoor Holdings, Inc. (NYSE:KIND - Get Free Report) shares rose 4.2% on Tuesday . The stock traded as high as $1.62 and last traded at $1.62. Approximately 450,107 shares traded hands during trading, a decline of 75% from the average daily volume of 1,774,419 shares. The stock had previously closed at $1.55.

Analysts Set New Price Targets

KIND has been the subject of a number of analyst reports. Morgan Stanley downgraded Nextdoor from an "equal weight" rating to an "underweight" rating and set a $1.10 price objective for the company. in a research report on Tuesday, May 13th. The Goldman Sachs Group dropped their target price on Nextdoor from $2.50 to $1.75 and set a "neutral" rating for the company in a research note on Monday, April 14th.

Nextdoor Trading Up 6.8%

The firm has a market capitalization of $633.18 million, a PE ratio of -5.17 and a beta of 1.16. The firm's fifty day moving average price is $1.50 and its 200 day moving average price is $1.98.

Nextdoor (NYSE:KIND - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.06) EPS for the quarter, topping analysts' consensus estimates of ($0.07) by $0.01. The company had revenue of $54.18 million during the quarter, compared to the consensus estimate of $53.14 million. Nextdoor had a negative return on equity of 19.42% and a negative net margin of 53.23%. As a group, research analysts expect that Nextdoor Holdings, Inc. will post -0.22 EPS for the current year.

Hedge Funds Weigh In On Nextdoor

A number of large investors have recently made changes to their positions in the company. Titleist Asset Management LLC lifted its position in shares of Nextdoor by 1.1% during the 4th quarter. Titleist Asset Management LLC now owns 381,750 shares of the company's stock worth $905,000 after buying an additional 4,000 shares during the last quarter. Occudo Quantitative Strategies LP boosted its stake in shares of Nextdoor by 3.1% in the 4th quarter. Occudo Quantitative Strategies LP now owns 138,203 shares of the company's stock valued at $328,000 after purchasing an additional 4,091 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in shares of Nextdoor by 77.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 10,372 shares of the company's stock valued at $25,000 after purchasing an additional 4,514 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Nextdoor by 2.2% during the 4th quarter. Invesco Ltd. now owns 243,395 shares of the company's stock worth $577,000 after buying an additional 5,178 shares in the last quarter. Finally, Arizona State Retirement System grew its holdings in Nextdoor by 13.9% in the first quarter. Arizona State Retirement System now owns 55,626 shares of the company's stock worth $85,000 after purchasing an additional 6,793 shares during the period. 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.

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