Nextdoor (NYSE:KIND) Upgraded to Hold at B. Riley

B. Riley upgraded shares of Nextdoor (NYSE:KIND) to a hold rating in a report released on Tuesday,Zacks.com reports.

A number of other research analysts have also commented on the company. The Goldman Sachs Group lowered their price objective on Nextdoor from $2.50 to $1.75 and set a “neutral” rating on the stock in a report on Monday, April 14th. Morgan Stanley downgraded Nextdoor from an “equal weight” rating to an “underweight” rating and set a $1.10 price target on the stock. in a report on Tuesday, May 13th.

Nextdoor Stock Down 2.2%

KIND stock opened at $1.56 on Tuesday. The firm has a 50 day moving average of $1.51 and a two-hundred day moving average of $1.95. Nextdoor has a 12 month low of $1.32 and a 12 month high of $3.00. The company has a market capitalization of $594.93 million, a price-to-earnings ratio of -6.48 and a beta of 1.16.

Nextdoor (NYSE:KIND) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. The firm had revenue of $54.18 million during the quarter, compared to analysts’ expectations of $53.14 million. Nextdoor had a negative net margin of 36.95% and a negative return on equity of 15.75%. On average, research analysts expect that Nextdoor will post -0.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. AXQ Capital LP bought a new stake in shares of Nextdoor in the fourth quarter valued at approximately $25,000. Tower Research Capital LLC TRC raised 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 during the last quarter. SVB Wealth LLC bought a new stake in Nextdoor in the 4th quarter valued at $27,000. Wealth Enhancement Advisory Services LLC bought a new stake in Nextdoor in the 4th quarter valued at $27,000. Finally, US Bancorp DE acquired a new stake in Nextdoor in the 4th quarter worth $29,000. 35.66% of the stock is owned by 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.