Nextdoor (NYSE:KIND) Stock Rating Upgraded by B. Riley

Nextdoor (NYSE:KIND) was upgraded by equities research analysts at B. Riley to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

A number of other research firms have also recently commented on KIND. Morgan Stanley cut shares of Nextdoor from an “equal weight” rating to an “underweight” rating and set a $1.10 price objective for the company. in a research report on Tuesday, May 13th. The Goldman Sachs Group decreased 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.

Nextdoor Price Performance

Shares of KIND stock opened at $1.56 on Tuesday. The stock has a market cap of $594.93 million, a PE ratio of -6.48 and a beta of 1.16. The stock has a 50-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 issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. The firm had revenue of $54.18 million during 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%. As a group, research analysts anticipate that Nextdoor will post -0.22 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Nextdoor by 4.2% during the first quarter. Vanguard Group Inc. now owns 18,352,384 shares of the company’s stock worth $28,079,000 after acquiring an additional 742,578 shares during the period. Cannell Capital LLC boosted its stake in Nextdoor by 8.4% in the 4th quarter. Cannell Capital LLC now owns 6,733,574 shares of the company’s stock worth $15,959,000 after purchasing an additional 524,342 shares during the period. Acadian Asset Management LLC increased its holdings in Nextdoor by 103.5% during the 1st quarter. Acadian Asset Management LLC now owns 4,770,086 shares of the company’s stock worth $7,288,000 after purchasing an additional 2,426,228 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Nextdoor by 5.3% in the 4th quarter. Geode Capital Management LLC now owns 4,258,509 shares of the company’s stock valued at $10,095,000 after purchasing an additional 215,781 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in shares of Nextdoor by 98.2% in the fourth quarter. Renaissance Technologies LLC now owns 3,967,200 shares of the company’s stock valued at $9,402,000 after purchasing an additional 1,965,300 shares in the last quarter. Institutional investors and hedge funds own 35.66% of the company’s stock.

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.