Nextdoor (NYSE:KIND) Shares Gap Down to $2.61

Nextdoor Holdings, Inc. (NYSE:KIND)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $2.61, but opened at $2.55. Nextdoor shares last traded at $2.51, with a volume of 198,209 shares changing hands.

Analysts Set New Price Targets

KIND has been the subject of several research analyst reports. The Goldman Sachs Group upped their price target on Nextdoor from $2.25 to $2.50 and gave the stock a “neutral” rating in a research note on Thursday, May 9th. Morgan Stanley upped their price target on Nextdoor from $2.20 to $2.50 and gave the stock an “equal weight” rating in a research note on Tuesday, July 23rd.

Nextdoor Stock Up 0.4 %

The company has a 50 day simple moving average of $2.65 and a 200-day simple moving average of $2.36. The stock has a market cap of $948.39 million, a price-to-earnings ratio of -6.75 and a beta of 1.10.

Nextdoor (NYSE:KIND) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. The business had revenue of $63.29 million for the quarter, compared to analysts’ expectations of $58.80 million. Nextdoor had a negative return on equity of 23.84% and a negative net margin of 64.19%. On average, equities research analysts expect that Nextdoor Holdings, Inc. will post -0.23 EPS for the current fiscal year.

Hedge Funds Weigh In On Nextdoor

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KIND. Swiss National Bank boosted its stake in shares of Nextdoor by 16.4% during the 4th quarter. Swiss National Bank now owns 279,200 shares of the company’s stock worth $528,000 after acquiring an additional 39,300 shares in the last quarter. Nikko Asset Management Americas Inc. boosted its stake in shares of Nextdoor by 17.6% during the 4th quarter. Nikko Asset Management Americas Inc. now owns 9,640,128 shares of the company’s stock worth $18,123,000 after acquiring an additional 1,442,973 shares in the last quarter. S&CO Inc. boosted its stake in shares of Nextdoor by 156.3% during the 4th quarter. S&CO Inc. now owns 287,000 shares of the company’s stock worth $542,000 after acquiring an additional 175,000 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Nextdoor by 266.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 24,688 shares of the company’s stock worth $47,000 after acquiring an additional 17,950 shares in the last quarter. Finally, Aristides Capital LLC bought a new stake in shares of Nextdoor during the 4th quarter worth $280,000. 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.