Nextdoor (NYSE:NXDR) Upgraded at B. Riley Financial

B. Riley Financial upgraded shares of Nextdoor (NYSE:NXDR) from a neutral rating to a buy rating in a research note published on Thursday, Marketbeat reports. They currently have $3.30 price objective on the stock, up from their previous price objective of $2.00.

Other research analysts have also issued research reports about the company. Wall Street Zen raised Nextdoor from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. The Goldman Sachs Group reissued a “neutral” rating and issued a $2.25 target price on shares of Nextdoor in a report on Thursday, May 7th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Nextdoor in a research note on Friday, July 10th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $2.55.

Nextdoor Stock Performance

Shares of NXDR opened at $2.54 on Thursday. Nextdoor has a fifty-two week low of $1.33 and a fifty-two week high of $3.72. The firm’s 50-day simple moving average is $2.25 and its two-hundred day simple moving average is $1.89. The stock has a market cap of $966.82 million, a PE ratio of -31.69 and a beta of 1.36.

Nextdoor (NYSE:NXDR) last released its earnings results on Tuesday, August 4th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.01. Nextdoor had a negative net margin of 11.08% and a negative return on equity of 6.16%. The firm had revenue of $74.55 million during the quarter, compared to analyst estimates of $72.10 million. Equities research analysts predict that Nextdoor will post -0.05 EPS for the current year.

Insider Buying and Selling at Nextdoor

In other news, General Counsel Sophia Schwartz sold 28,616 shares of Nextdoor stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $2.25, for a total transaction of $64,386.00. Following the transaction, the general counsel directly owned 307,757 shares of the company’s stock, valued at $692,453.25. The trade was a 8.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 33.46% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Nextdoor

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. R Squared Ltd lifted its stake in shares of Nextdoor by 37.1% during the 1st quarter. R Squared Ltd now owns 29,325 shares of the company’s stock valued at $41,000 after buying an additional 7,941 shares in the last quarter. Farther Finance Advisors LLC purchased a new position in Nextdoor in the 4th quarter worth approximately $25,000. Geneos Wealth Management Inc. bought a new position in Nextdoor in the 4th quarter worth approximately $26,000. Commonwealth Equity Services LLC bought a new position in Nextdoor in the 4th quarter worth approximately $27,000. Finally, Mackenzie Financial Corp purchased a new stake in Nextdoor during the 4th quarter valued at approximately $29,000. Institutional investors own 35.66% of the company’s stock.

About Nextdoor

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.