Nextdoor (NYSE:KIND) Shares Gap Up – Still a Buy?

Nextdoor Holdings, Inc. (NYSE:KIND)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $2.50, but opened at $2.63. Nextdoor shares last traded at $2.73, with a volume of 631,246 shares changing hands.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on KIND shares. The Goldman Sachs Group lifted their price objective on Nextdoor from $2.50 to $3.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Craig Hallum initiated coverage on shares of Nextdoor in a report on Thursday. They issued a “buy” rating and a $4.00 price target for the company.

Nextdoor Stock Performance

The firm has a market cap of $1.03 billion, a P/E ratio of -8.42 and a beta of 1.05. The business’s fifty day moving average is $2.46 and its 200-day moving average is $2.50.

Nextdoor (NYSE:KIND) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.01. The company had revenue of $65.61 million during the quarter, compared to analyst estimates of $62.10 million. Nextdoor had a negative net margin of 53.23% and a negative return on equity of 19.42%. During the same quarter in the previous year, the business posted ($0.10) EPS. Analysts predict that Nextdoor Holdings, Inc. will post -0.22 EPS for the current fiscal year.

Insider Buying and Selling at Nextdoor

In related news, General Counsel Sophia Schwartz sold 16,834 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $2.45, for a total value of $41,243.30. Following the sale, the general counsel now owns 215,536 shares in the company, valued at approximately $528,063.20. This trade represents a 7.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 20,222 shares of company stock valued at $49,679 over the last three months. 46.04% of the stock is currently owned by insiders.

Institutional Trading of Nextdoor

Several institutional investors have recently added to or reduced their stakes in KIND. The Manufacturers Life Insurance Company boosted its position in Nextdoor by 14.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 68,852 shares of the company’s stock valued at $191,000 after acquiring an additional 8,546 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of Nextdoor during the second quarter valued at approximately $28,000. Xponance Inc. purchased a new position in Nextdoor in the 2nd quarter worth approximately $31,000. Creative Planning bought a new position in Nextdoor in the 3rd quarter valued at approximately $28,000. Finally, Algert Global LLC boosted its stake in Nextdoor by 3.6% during the 2nd quarter. Algert Global LLC now owns 462,321 shares of the company’s stock valued at $1,285,000 after purchasing an additional 16,241 shares during the last quarter. 35.66% of the stock is currently owned by hedge funds and other 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.