B. Riley upgraded shares of Nextdoor (NYSE:KIND – Free Report) to a hold rating in a research report released on Tuesday morning, Marketbeat Ratings reports.
Several other brokerages also recently weighed in on KIND. Morgan Stanley downgraded Nextdoor from an “equal weight” rating to an “underweight” rating and set a $1.10 price target for the company. in a report on Tuesday, May 13th. The Goldman Sachs Group dropped their target price on Nextdoor from $2.50 to $1.75 and set a “neutral” rating for the company in a research note on Monday, April 14th.
View Our Latest Stock Analysis on KIND
Nextdoor Trading Up 1.6%
Nextdoor (NYSE:KIND – Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.01. The company had revenue of $54.18 million for 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, equities analysts predict that Nextdoor will post -0.22 EPS for the current year.
Institutional Investors Weigh In On Nextdoor
Institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp raised its stake in Nextdoor by 6.9% during the fourth quarter. Bank of New York Mellon Corp now owns 422,076 shares of the company’s stock worth $1,000,000 after purchasing an additional 27,067 shares during the period. Versor Investments LP acquired a new stake in shares of Nextdoor during the 4th quarter worth $121,000. SVB Wealth LLC purchased a new position in shares of Nextdoor in the 4th quarter worth $27,000. US Bancorp DE acquired a new position in Nextdoor in the fourth quarter valued at $29,000. Finally, Charles Schwab Investment Management Inc. grew its position in Nextdoor by 16.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,633,369 shares of the company’s stock valued at $3,871,000 after acquiring an additional 227,208 shares during the period. 35.66% of the stock is currently owned by hedge funds and other institutional investors.
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.
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