Nextdoor (NYSE:KIND) Trading 8.2% Higher - Here's Why

Nextdoor Holdings, Inc. (NYSE:KIND - Get Free Report) was up 8.2% on Thursday . The company traded as high as $1.90 and last traded at $1.92. Approximately 471,352 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 1,953,211 shares. The stock had previously closed at $1.77.

Analyst Ratings Changes

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

Nextdoor Stock Performance

The business has a 50-day simple moving average of $2.44 and a 200 day simple moving average of $2.46. The firm has a market cap of $655.38 million, a P/E ratio of -5.36 and a beta of 1.14.

Nextdoor (NYSE:KIND - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.03) EPS for the quarter, meeting analysts' consensus estimates of ($0.03). The business had revenue of $65.23 million during the quarter, compared to analyst estimates of $63.12 million. Nextdoor had a negative return on equity of 19.42% and a negative net margin of 53.23%. On average, research analysts expect that Nextdoor Holdings, Inc. will post -0.22 EPS for the current year.

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Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Mackenzie Financial Corp bought a new position in shares of Nextdoor in the 4th quarter worth approximately $382,000. Public Employees Retirement System of Ohio bought a new position in shares of Nextdoor in the 4th quarter worth approximately $193,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Nextdoor by 38.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 466,072 shares of the company's stock worth $1,105,000 after acquiring an additional 128,511 shares in the last quarter. Wexford Capital LP bought a new position in shares of Nextdoor in the 4th quarter worth approximately $474,000. Finally, Squarepoint Ops LLC raised its position in shares of Nextdoor by 1,153.9% in the 4th quarter. Squarepoint Ops LLC now owns 635,994 shares of the company's stock worth $1,507,000 after acquiring an additional 585,273 shares in the last quarter. Institutional investors own 35.66% of the company's stock.

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.