Nextdoor (NYSE:KIND) Shares Gap Up – Should You Buy?

Nextdoor Holdings, Inc. (NYSE:KIND)’s share price gapped up prior to trading 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.

Wall Street Analyst Weigh In

KIND has been the subject of several research analyst reports. The Goldman Sachs Group increased their target price on Nextdoor from $2.50 to $3.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Craig Hallum initiated coverage on Nextdoor in a research report on Thursday. They set a “buy” rating and a $4.00 target price for the company.

Nextdoor Stock Performance

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

Nextdoor (NYSE:KIND) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.01. The firm had revenue of $65.61 million for the quarter, compared to the consensus estimate 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 prior year, the company posted ($0.10) earnings per share. As a group, analysts expect that Nextdoor Holdings, Inc. will post -0.22 earnings per share for the current fiscal year.

Insider Activity

In other Nextdoor news, General Counsel Sophia Schwartz sold 16,834 shares of Nextdoor stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $2.45, for a total transaction of $41,243.30. Following the transaction, the general counsel now directly owns 215,536 shares of the company’s stock, valued at $528,063.20. The trade was a 7.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 20,222 shares of company stock valued at $49,679 in the last three months. 46.04% of the stock is currently owned by corporate insiders.

Institutional Trading of Nextdoor

Several institutional investors and hedge funds have recently bought and sold shares of KIND. XTX Topco Ltd acquired a new stake in Nextdoor in the second quarter valued at $28,000. Creative Planning purchased a new position in shares of Nextdoor during the third quarter worth about $28,000. Xponance Inc. acquired a new stake in shares of Nextdoor during the second quarter worth about $31,000. R Squared Ltd acquired a new stake in shares of Nextdoor in the 4th quarter valued at about $45,000. Finally, Savvy Advisors Inc. acquired a new stake in shares of Nextdoor in the third quarter valued at approximately $61,000. 35.66% of the stock is currently owned by hedge funds and other institutional investors.

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.