Nextdoor (NYSE:NXDR) Upgraded by Wall Street Zen to Buy Rating

Nextdoor (NYSE:NXDR - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued to investors on Saturday.

A number of other brokerages also recently weighed in on NXDR. Weiss Ratings reiterated a "sell (d-)" rating on shares of Nextdoor in a report on Tuesday, April 14th. The Goldman Sachs Group reiterated a "neutral" rating and set a $2.25 price target on shares of Nextdoor in a report on Thursday. Citigroup lowered their price target on Nextdoor from $2.20 to $2.10 and set a "neutral" rating on the stock in a report on Friday, February 20th. Finally, B. Riley Financial reiterated a "neutral" rating on shares of Nextdoor in a report on Thursday, February 19th. Three research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Reduce" and a consensus target price of $2.18.

Nextdoor Stock Up 4.9%

Shares of NYSE NXDR opened at $2.02 on Friday. The firm has a market cap of $781.28 million, a PE ratio of -18.32 and a beta of 1.29. The stock has a fifty day moving average of $1.53. Nextdoor has a 52-week low of $1.32 and a 52-week high of $3.72.

Nextdoor (NYSE:NXDR - Get Free Report) last issued its earnings results on Wednesday, May 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.05) by $0.02. Nextdoor had a negative return on equity of 9.22% and a negative net margin of 16.47%.The business had revenue of $61.67 million for the quarter. As a group, sell-side analysts expect that Nextdoor will post -0.11 EPS for the current year.

Institutional Trading of Nextdoor

A number of institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its position in Nextdoor by 4.3% during the first quarter. Bank of New York Mellon Corp now owns 542,691 shares of the company's stock valued at $760,000 after purchasing an additional 22,462 shares during the last quarter. Hsbc Holdings PLC acquired a new stake in shares of Nextdoor in the first quarter worth about $232,000. Granite Investment Partners LLC lifted its position in shares of Nextdoor by 77.9% in the first quarter. Granite Investment Partners LLC now owns 31,274 shares of the company's stock worth $44,000 after buying an additional 13,692 shares during the last quarter. R Squared Ltd lifted its position in shares of Nextdoor by 37.1% in the first quarter. R Squared Ltd now owns 29,325 shares of the company's stock worth $41,000 after buying an additional 7,941 shares during the last quarter. Finally, Abel Hall LLC lifted its position in shares of Nextdoor by 49.4% in the first quarter. Abel Hall LLC now owns 52,337 shares of the company's stock worth $73,000 after buying an additional 17,314 shares during the last quarter. Institutional investors and hedge funds own 35.66% of the company's stock.

About Nextdoor

Nextdoor Holdings, Inc NYSE: NXDR operates Nextdoor, a private social network designed to connect neighbors and local communities. Founded by Nirav Tolia, Sarah Leary, Prakash Janakiraman and David Wiesen, the company is headquartered in San Francisco and provides an app and web platform where residents can share news, recommendations, safety information, items for sale, and local event notices. The platform is built around verified neighborhood groups and identity-confirmation processes intended to foster trust and relevant local conversations.

Nextdoor’s core products center on the consumer-facing Nextdoor app and web experience, supplemented by tools and services for local businesses, public agencies, and advertisers.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.