Nextdoor (NYSE:KIND) Trading 3.1% Higher

Nextdoor Holdings, Inc. (NYSE:KIND)’s share price rose 3.1% on Tuesday . The stock traded as high as $2.65 and last traded at $2.64. Approximately 52,900 shares traded hands during trading, a decline of 97% from the average daily volume of 1,703,765 shares. The stock had previously closed at $2.56.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group upped their target price on shares of Nextdoor from $2.25 to $2.50 and gave the stock a “neutral” rating in a research report on Thursday, May 9th.

Nextdoor Stock Performance

The firm’s 50 day simple moving average is $2.36 and its 200 day simple moving average is $2.06.

Nextdoor (NYSE:KIND) last released its earnings results on Tuesday, May 7th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.02. The company had revenue of $53.15 million for the quarter, compared to analyst estimates of $50.90 million. Nextdoor had a negative net margin of 64.19% and a negative return on equity of 23.84%. As a group, sell-side analysts predict that Nextdoor Holdings, Inc. will post -0.24 EPS for the current fiscal year.

Institutional Investors Weigh In On Nextdoor

A number of hedge funds and other institutional investors have recently modified their holdings of KIND. Harbor Capital Advisors Inc. increased its stake in Nextdoor by 23.0% in the 4th quarter. Harbor Capital Advisors Inc. now owns 32,324 shares of the company’s stock worth $61,000 after purchasing an additional 6,034 shares during the period. Arizona State Retirement System increased its stake in shares of Nextdoor by 24.9% in the fourth quarter. Arizona State Retirement System now owns 39,612 shares of the company’s stock worth $75,000 after buying an additional 7,896 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Nextdoor by 28.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 43,779 shares of the company’s stock worth $99,000 after buying an additional 9,689 shares during the period. Westside Investment Management Inc. raised its holdings in Nextdoor by 294.3% during the 1st quarter. Westside Investment Management Inc. now owns 15,408 shares of the company’s stock valued at $35,000 after buying an additional 11,500 shares during the last quarter. Finally, IAM Advisory LLC purchased a new stake in Nextdoor during the 4th quarter valued at $32,000. Institutional investors own 35.66% of the company’s stock.

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.