Nextdoor (NYSE:NXDR) Trading 9.7% Higher – Time to Buy?

Nextdoor Holdings, Inc. (NYSE:NXDR) traded up 9.7% on Thursday . The stock traded as high as $2.24 and last traded at $2.2150. 1,405,019 shares were traded during trading, a decline of 60% from the average session volume of 3,529,985 shares. The stock had previously closed at $2.02.

Analyst Ratings Changes

A number of research firms have issued reports on NXDR. B. Riley Financial restated a “neutral” rating on shares of Nextdoor in a report on Thursday, February 19th. Citigroup decreased their price target on shares of Nextdoor from $2.20 to $2.10 and set a “neutral” rating for the company in a report on Friday, February 20th. Weiss Ratings restated a “sell (d-)” rating on shares of Nextdoor in a report on Tuesday, April 14th. The Goldman Sachs Group restated a “neutral” rating and set a $2.25 price target on shares of Nextdoor in a report on Thursday, May 7th. Finally, Wall Street Zen upgraded shares of Nextdoor from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Three research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Nextdoor has a consensus rating of “Reduce” and a consensus target price of $2.18.

Nextdoor Stock Up 7.7%

The firm has a market capitalization of $829.52 million, a PE ratio of -19.77 and a beta of 1.38. The stock’s 50 day moving average is $1.71.

Nextdoor (NYSE:NXDR) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.02. Nextdoor had a negative net margin of 16.47% and a negative return on equity of 9.22%. The firm had revenue of $61.67 million for the quarter. As a group, equities analysts forecast that Nextdoor Holdings, Inc. will post -0.09 EPS for the current year.

Hedge Funds Weigh In On Nextdoor

A number of hedge funds and other institutional investors have recently made changes to their positions in NXDR. Farther Finance Advisors LLC bought a new position in shares of Nextdoor during the fourth quarter worth $25,000. Geneos Wealth Management Inc. bought a new position in shares of Nextdoor during the fourth quarter worth $26,000. Commonwealth Equity Services LLC bought a new position in shares of Nextdoor during the fourth quarter worth $27,000. Mackenzie Financial Corp bought a new position in shares of Nextdoor during the fourth quarter worth $29,000. Finally, Cibc World Markets Corp bought a new position in shares of Nextdoor during the fourth quarter worth $30,000. 35.66% of the stock is owned by institutional investors.

Nextdoor Company Profile

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.