Nextdoor (NYSE:KIND) Shares Gap Up - Still a Buy?

Nextdoor Holdings, Inc. (NYSE:KIND - Get Free Report) shares gapped up before the market opened on Thursday . The stock had previously closed at $2.50, but opened at $2.63. Nextdoor shares last traded at $2.73, with a volume of 631,246 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on KIND. The Goldman Sachs Group increased their price objective on shares of Nextdoor from $2.50 to $3.00 and gave the company a "neutral" rating in a research report on Thursday, November 7th. Craig Hallum started coverage on shares of Nextdoor in a research note on Thursday. They issued a "buy" rating and a $4.00 price objective on the stock.

Nextdoor Trading Down 2.5 %

The firm's 50-day moving average price is $2.46 and its 200-day moving average price is $2.49. The stock has a market capitalization of $976.37 million, a PE ratio of -7.98 and a beta of 1.07.

Nextdoor (NYSE:KIND - Get Free Report) last announced its earnings results on Wednesday, November 6th. The company reported ($0.04) EPS for the quarter, topping analysts' consensus estimates of ($0.05) by $0.01. Nextdoor had a negative return on equity of 19.42% and a negative net margin of 53.23%. The firm had revenue of $65.61 million during the quarter, compared to analysts' expectations of $62.10 million. During the same quarter in the previous year, the business earned ($0.10) EPS. On average, equities research analysts predict that Nextdoor Holdings, Inc. will post -0.22 earnings per share for the current fiscal year.

Insider Transactions at Nextdoor

In other Nextdoor news, General Counsel Sophia Schwartz sold 16,834 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $2.45, for a total value of $41,243.30. Following the sale, the general counsel now owns 215,536 shares in the company, valued at $528,063.20. This trade represents a 7.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last quarter, insiders sold 20,222 shares of company stock worth $49,679. 46.04% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Nextdoor

Several institutional investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company raised its holdings in shares of Nextdoor by 14.2% in the second quarter. The Manufacturers Life Insurance Company now owns 68,852 shares of the company's stock worth $191,000 after buying an additional 8,546 shares during the last quarter. Creative Planning acquired a new stake in Nextdoor during the 3rd quarter worth about $28,000. R Squared Ltd purchased a new stake in Nextdoor during the 4th quarter valued at about $45,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Nextdoor by 6.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 337,561 shares of the company's stock valued at $837,000 after purchasing an additional 21,405 shares during the period. Finally, Savvy Advisors Inc. purchased a new stake in Nextdoor in the third quarter valued at approximately $61,000. 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.