Nextdoor (NYSE:KIND) Shares Up 4.2% - Time to Buy?

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

Analyst Ratings Changes

A number of research firms have recently commented on KIND. The Goldman Sachs Group cut 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. Morgan Stanley lowered Nextdoor from an "equal weight" rating to an "underweight" rating and set a $1.10 price objective for the company. in a research note on Tuesday, May 13th.

Nextdoor Stock Performance

The company has a 50 day moving average of $1.51 and a 200 day moving average of $1.97. The stock has a market capitalization of $587.28 million, a price-to-earnings ratio of -6.40 and a beta of 1.16.

Nextdoor (NYSE:KIND - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported ($0.06) EPS for the quarter, beating analysts' consensus estimates of ($0.07) by $0.01. The business had revenue of $54.18 million during the quarter, compared to analysts' expectations of $53.14 million. Nextdoor had a negative net margin of 36.95% and a negative return on equity of 15.75%. On average, equities analysts predict that Nextdoor Holdings, Inc. will post -0.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Titleist Asset Management LLC increased its holdings in shares of Nextdoor by 1.1% in the fourth quarter. Titleist Asset Management LLC now owns 381,750 shares of the company's stock valued at $905,000 after purchasing an additional 4,000 shares during the last quarter. Occudo Quantitative Strategies LP grew its holdings in 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 buying an additional 4,091 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Nextdoor by 77.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,372 shares of the company's stock worth $25,000 after acquiring an additional 4,514 shares during the last quarter. Invesco Ltd. raised 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 acquiring an additional 5,178 shares during the period. Finally, Arizona State Retirement System raised its holdings in shares of Nextdoor by 13.9% during the 1st quarter. Arizona State Retirement System now owns 55,626 shares of the company's stock worth $85,000 after acquiring an additional 6,793 shares during the period. 35.66% of the stock is currently owned by institutional investors and hedge funds.

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.