Nextdoor (NYSE:KIND) Shares Up 8.2% – Should You Buy?

Nextdoor Holdings, Inc. (NYSE:KIND)’s share price shot up 8.2% on Thursday . The company 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.

Analysts Set New Price Targets

A number of research firms have recently weighed in on KIND. The Goldman Sachs Group reduced their target price on shares of Nextdoor from $3.00 to $2.50 and set a “neutral” rating on the stock in a report on Monday, March 3rd. Craig Hallum initiated coverage on shares of Nextdoor in a research note on Thursday, January 30th. They set a “buy” rating and a $4.00 price target for the company.

Nextdoor Trading Down 5.8 %

The business’s 50 day moving average is $2.46 and its 200 day moving average is $2.46. The stock has a market capitalization of $655.38 million, a PE ratio of -5.36 and a beta of 1.14.

Nextdoor (NYSE:KIND) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.03) EPS for the quarter, hitting analysts’ consensus estimates of ($0.03). The firm had revenue of $65.23 million during the quarter, compared to analysts’ expectations 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, analysts anticipate that Nextdoor Holdings, Inc. will post -0.22 EPS for the current year.

Institutional Investors Weigh In On Nextdoor

Large investors have recently added to or reduced their stakes in the stock. Cornerstone Partners Capital Management LLC boosted its position in Nextdoor by 83.9% in the 4th quarter. Cornerstone Partners Capital Management LLC now owns 586,522 shares of the company’s stock valued at $1,390,000 after buying an additional 267,527 shares during the period. JPMorgan Chase & Co. boosted its position in Nextdoor by 62.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 725,345 shares of the company’s stock valued at $1,799,000 after buying an additional 278,185 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Nextdoor by 5.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,406,161 shares of the company’s stock valued at $3,487,000 after buying an additional 75,229 shares during the period. Travelers Companies Inc. purchased a new stake in Nextdoor in the 3rd quarter valued at about $593,000. Finally, Barclays PLC lifted its position in shares of Nextdoor by 326.2% in 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 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.