Nextdoor (NYSE:NXDR) Shares Up 9.7% – Time to Buy?

Nextdoor Holdings, Inc. (NYSE:NXDR) shares shot up 9.7% during trading on Thursday . The company traded as high as $2.24 and last traded at $2.2150. 1,405,019 shares traded hands during trading, a decline of 60% from the average session volume of 3,529,985 shares. The stock had previously closed at $2.02.

Analysts Set New Price Targets

A number of brokerages have commented on NXDR. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nextdoor in a research report on Tuesday, April 14th. B. Riley Financial reaffirmed a “neutral” rating on shares of Nextdoor in a research report on Thursday, February 19th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $2.25 price target on shares of Nextdoor in a research report on Thursday, May 7th. Wall Street Zen raised shares of Nextdoor from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, Citigroup cut their price objective on shares of Nextdoor from $2.20 to $2.10 and set a “neutral” rating on the stock in a research report on Friday, February 20th. Three equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Nextdoor has a consensus rating of “Reduce” and a consensus target price of $2.18.

Nextdoor Stock Performance

The company has a market capitalization of $787.57 million, a P/E ratio of -18.77 and a beta of 1.38. The company has a 50-day moving average price of $1.73.

Nextdoor (NYSE:NXDR) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. The company had revenue of $61.67 million for the quarter. Nextdoor had a negative net margin of 16.47% and a negative return on equity of 9.22%. Equities analysts anticipate that Nextdoor Holdings, Inc. will post -0.09 EPS for the current year.

Hedge Funds Weigh In On Nextdoor

Institutional investors and hedge funds have recently made changes to their positions in the stock. Farther Finance Advisors LLC acquired a new stake in shares of Nextdoor in the 4th quarter worth about $25,000. Geneos Wealth Management Inc. acquired a new stake in shares of Nextdoor in the 4th quarter worth about $26,000. Commonwealth Equity Services LLC acquired a new stake in shares of Nextdoor in the 4th quarter worth about $27,000. Mackenzie Financial Corp acquired a new stake in shares of Nextdoor in the 4th quarter worth about $29,000. Finally, Cibc World Markets Corp acquired a new stake in shares of Nextdoor in the 4th quarter worth about $30,000. Institutional investors own 35.66% of the company’s stock.

Nextdoor Company Profile

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.