Nextdoor (NYSE:KIND) Stock Price Up 8.2% – What’s Next?

Nextdoor Holdings, Inc. (NYSE:KIND)’s stock price traded up 8.2% during mid-day trading on Thursday . The stock traded as high as $1.90 and last traded at $1.92. 471,352 shares changed hands during mid-day 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 research firms have recently commented on KIND. The Goldman Sachs Group reduced their price target on Nextdoor from $3.00 to $2.50 and set a “neutral” rating on the stock in a report on Monday. Craig Hallum began coverage on shares of Nextdoor in a report on Thursday, January 30th. They issued a “buy” rating and a $4.00 target price on the stock.

Nextdoor Trading Up 3.7 %

The firm’s fifty day moving average is $2.47 and its 200-day moving average is $2.47. The stock has a market capitalization of $701.23 million, a PE ratio of -5.73 and a beta of 1.07.

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

Hedge Funds Weigh In On Nextdoor

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Cornerstone Partners Capital Management LLC increased its stake in Nextdoor by 83.9% during the 4th quarter. Cornerstone Partners Capital Management LLC now owns 586,522 shares of the company’s stock worth $1,390,000 after buying an additional 267,527 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Nextdoor by 62.2% in the third quarter. JPMorgan Chase & Co. now owns 725,345 shares of the company’s stock valued at $1,799,000 after acquiring an additional 278,185 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Nextdoor by 5.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,406,161 shares of the company’s stock valued at $3,487,000 after purchasing an additional 75,229 shares during the period. Travelers Companies Inc. acquired a new position in Nextdoor during the 3rd quarter worth $593,000. Finally, Barclays PLC increased its holdings in Nextdoor by 326.2% during the 3rd quarter. Barclays PLC now owns 267,490 shares of the company’s stock worth $663,000 after purchasing an additional 204,729 shares during the period. 35.66% of the stock is currently owned by hedge funds and other 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.