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

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

A number of other research firms have also issued reports on KIND. Morgan Stanley lowered shares of 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. The Goldman Sachs Group lowered their price objective on shares of Nextdoor from $2.50 to $1.75 and set a “neutral” rating on the stock in a research report on Monday, April 14th.

Nextdoor Stock Performance

Shares of NYSE:KIND opened at $1.56 on Tuesday. The company has a market capitalization of $594.93 million, a PE ratio of -6.48 and a beta of 1.16. The stock has a fifty day moving average of $1.51 and a 200-day moving average of $1.95. Nextdoor has a one year low of $1.32 and a one year high of $3.00.

Nextdoor (NYSE:KIND) last announced its earnings results on Wednesday, May 7th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.01. Nextdoor had a negative return on equity of 15.75% and a negative net margin of 36.95%. The business had revenue of $54.18 million during the quarter, compared to the consensus estimate of $53.14 million. As a group, research analysts forecast that Nextdoor will post -0.22 EPS for the current fiscal year.

Institutional Trading of Nextdoor

Hedge funds have recently made changes to their positions in the stock. AXQ Capital LP purchased a new position in Nextdoor during the fourth quarter valued at approximately $25,000. Tower Research Capital LLC TRC grew its holdings in shares of 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 acquiring an additional 4,514 shares in the last quarter. SVB Wealth LLC purchased a new position in shares of Nextdoor during the 4th quarter valued at $27,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Nextdoor in the fourth quarter worth $27,000. Finally, US Bancorp DE purchased a new stake in shares of Nextdoor during the fourth quarter worth $29,000. 35.66% of the stock is 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.