Nextdoor (NYSE:NXDR – Get Free Report) announced its quarterly earnings data on Tuesday. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01, Zacks reports. The company had revenue of $74.55 million for the quarter, compared to the consensus estimate of $72.10 million. Nextdoor had a negative return on equity of 6.12% and a negative net margin of 11.08%.
Nextdoor Stock Up 3.5%
Nextdoor stock traded up $0.09 during midday trading on Thursday, hitting $2.54. 2,664,969 shares of the stock were exchanged, compared to its average volume of 3,307,796. Nextdoor has a 52-week low of $1.33 and a 52-week high of $3.72. The business’s 50-day moving average price is $2.24 and its 200-day moving average price is $1.88. The stock has a market capitalization of $966.82 million, a price-to-earnings ratio of -31.69 and a beta of 1.36.
Analyst Upgrades and Downgrades
NXDR has been the topic of a number of research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nextdoor in a research report on Friday, July 10th. B. Riley Financial upgraded shares of Nextdoor from a “neutral” rating to a “buy” rating and raised their price target for the stock from $2.00 to $3.30 in a report on Thursday. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $2.25 price target on shares of Nextdoor in a research note on Thursday, May 7th. Finally, Wall Street Zen raised shares of Nextdoor from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $2.55.
Insider Activity at Nextdoor
In other news, General Counsel Sophia Schwartz sold 28,616 shares of Nextdoor stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $2.25, for a total transaction of $64,386.00. Following the sale, the general counsel directly owned 307,757 shares in the company, valued at $692,453.25. The trade was a 8.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 33.46% of the company’s stock.
Institutional Trading of Nextdoor
A number of large investors have recently added to or reduced their stakes in NXDR. Commonwealth Equity Services LLC purchased a new position in Nextdoor in the fourth quarter valued at about $27,000. Mackenzie Financial Corp bought a new position in Nextdoor during the fourth quarter valued at $29,000. Cibc World Markets Corp bought a new position in Nextdoor during the fourth quarter valued at $30,000. HighTower Advisors LLC purchased a new stake in Nextdoor in the fourth quarter worth $33,000. Finally, Xponance LLC purchased a new position in shares of Nextdoor during the 4th quarter valued at $36,000. Hedge funds and other institutional investors own 35.66% of the company’s stock.
About Nextdoor
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.
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