Nextdoor (NYSE:NXDR) Issues Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Nextdoor (NYSE:NXDR) posted its quarterly earnings results on Wednesday. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.02, FiscalAI reports. The company had revenue of $61.67 million for the quarter. Nextdoor had a negative net margin of 16.47% and a negative return on equity of 9.07%.

Nextdoor Stock Performance

NYSE NXDR traded up $0.27 during trading on Thursday, reaching $1.90. 9,016,837 shares of the company’s stock traded hands, compared to its average volume of 2,189,065. The company has a 50 day simple moving average of $1.53. Nextdoor has a 12-month low of $1.32 and a 12-month high of $3.72.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC purchased a new position in Nextdoor during the 4th quarter valued at about $25,000. Geneos Wealth Management Inc. purchased a new position in Nextdoor during the 4th quarter valued at about $26,000. Commonwealth Equity Services LLC purchased a new position in Nextdoor during the 4th quarter valued at about $27,000. Mackenzie Financial Corp purchased a new position in shares of Nextdoor in the 4th quarter worth approximately $29,000. Finally, Cibc World Markets Corp purchased a new position in shares of Nextdoor in the 4th quarter worth approximately $30,000. Hedge funds and other institutional investors own 35.66% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nextdoor in a research note on Tuesday, April 14th. Wall Street Zen downgraded shares of Nextdoor from a “buy” rating to a “hold” rating in a research note on Sunday, March 1st. Citigroup reduced their price target on shares of Nextdoor from $2.20 to $2.10 and set a “neutral” rating on the stock in a research note on Friday, February 20th. The Goldman Sachs Group reissued a “neutral” rating and set a $2.25 target price on shares of Nextdoor in a research report on Thursday. Finally, B. Riley Financial reissued a “neutral” rating on shares of Nextdoor in a research report on Thursday, February 19th. Three analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $2.18.

About Nextdoor

Nextdoor Holdings, Inc (NYSE: NXDR) operates Nextdoor, a private social network designed to connect neighbors and local communities. Founded by Nirav Tolia, Sarah Leary, Prakash Janakiraman and David Wiesen, the company is headquartered in San Francisco and provides an app and web platform where residents can share news, recommendations, safety information, items for sale, and local event notices. The platform is built around verified neighborhood groups and identity-confirmation processes intended to foster trust and relevant local conversations.

Nextdoor’s core products center on the consumer-facing Nextdoor app and web experience, supplemented by tools and services for local businesses, public agencies, and advertisers.