Nextdoor (NYSE:KIND) Trading 4.2% Higher

Nextdoor Holdings, Inc. (NYSE:KIND)’s stock price traded up 4.2% during trading on Tuesday . The company traded as high as $2.23 and last traded at $2.22. 136,095 shares traded hands during mid-day trading, a decline of 92% from the average session volume of 1,811,197 shares. The stock had previously closed at $2.13.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group lifted their target price on shares of Nextdoor from $1.75 to $2.25 and gave the stock a “neutral” rating in a research note on Wednesday, February 28th.

Nextdoor Price Performance

The stock has a market cap of $889.60 million, a price-to-earnings ratio of -5.95 and a beta of 0.97. The company’s fifty day simple moving average is $1.90 and its two-hundred day simple moving average is $1.82.

Nextdoor (NYSE:KIND) last issued its quarterly earnings data on Tuesday, February 27th. The company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.03. The firm had revenue of $55.56 million during the quarter, compared to the consensus estimate of $50.94 million. Nextdoor had a negative return on equity of 24.22% and a negative net margin of 67.69%. On average, analysts forecast that Nextdoor Holdings, Inc. will post -0.27 earnings per share for the current year.

Hedge Funds Weigh In On Nextdoor

Institutional investors have recently added to or reduced their stakes in the business. Quantbot Technologies LP grew its position in shares of Nextdoor by 261.4% in the 1st quarter. Quantbot Technologies LP now owns 4,922 shares of the company’s stock worth $29,000 after buying an additional 3,560 shares during the last quarter. Guggenheim Capital LLC bought a new position in Nextdoor in the third quarter worth about $31,000. Legal & General Group Plc bought a new position in shares of Nextdoor in the 2nd quarter worth approximately $37,000. Ensign Peak Advisors Inc purchased a new stake in Nextdoor in the third quarter worth $33,000. Finally, Envestnet Asset Management Inc. bought a new position in Nextdoor in the first quarter worth $70,000. 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.