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

Nextdoor Holdings, Inc. (NYSE:KIND) shot up 8.2% during trading on Thursday . The stock traded as high as $1.90 and last traded at $1.92. 471,352 shares were traded during trading, a decline of 76% from the average session volume of 1,953,211 shares. The stock had previously closed at $1.77.

Analyst Ratings Changes

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

Nextdoor Stock Performance

The stock has a market cap of $655.38 million, a P/E ratio of -5.36 and a beta of 1.14. The firm’s 50 day moving average is $2.46 and its 200 day moving average is $2.46.

Nextdoor (NYSE:KIND) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.03) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.03). Nextdoor had a negative net margin of 53.23% and a negative return on equity of 19.42%. The business had revenue of $65.23 million for the quarter, compared to analyst estimates of $63.12 million. As a group, analysts expect that Nextdoor Holdings, Inc. will post -0.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Tower Research Capital LLC TRC increased its stake in Nextdoor by 77.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 10,372 shares of the company’s stock valued at $25,000 after purchasing an additional 4,514 shares in the last quarter. AXQ Capital LP acquired a new position in Nextdoor during the 4th quarter valued at approximately $25,000. Creative Planning acquired a new position in Nextdoor during the 3rd quarter valued at approximately $28,000. SVB Wealth LLC acquired a new position in Nextdoor during the 4th quarter valued at approximately $27,000. Finally, US Bancorp DE purchased a new stake in shares of Nextdoor in the 4th quarter valued at $29,000. Institutional investors and hedge funds own 35.66% of the company’s stock.

About Nextdoor

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.