Nextdoor (NYSE:KIND) Upgraded at B. Riley

B. Riley upgraded shares of Nextdoor (NYSE:KIND) to a hold rating in a research note issued to investors on Tuesday morning, Marketbeat.com reports.

A number of other equities analysts also recently issued reports on KIND. Morgan Stanley downgraded shares of Nextdoor from an “equal weight” rating to an “underweight” rating and set a $1.10 price target for the company. in a report on Tuesday, May 13th. The Goldman Sachs Group dropped their target price on shares of Nextdoor from $2.50 to $1.75 and set a “neutral” rating for the company in a report on Monday, April 14th.

Nextdoor Stock Up 1.6%

Shares of Nextdoor stock opened at $1.58 on Tuesday. The firm has a market cap of $602.58 million, a price-to-earnings ratio of -6.56 and a beta of 1.16. Nextdoor has a 52-week low of $1.32 and a 52-week high of $3.00. The company’s 50-day simple moving average is $1.51 and its 200-day simple moving average is $1.94.

Nextdoor (NYSE:KIND) last released its earnings results on Wednesday, May 7th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.01. The company had revenue of $54.18 million for the quarter, compared to analysts’ expectations of $53.14 million. Nextdoor had a negative return on equity of 15.75% and a negative net margin of 36.95%. Equities research analysts anticipate that Nextdoor will post -0.22 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Nextdoor by 4.2% in the 1st quarter. Vanguard Group Inc. now owns 18,352,384 shares of the company’s stock worth $28,079,000 after buying an additional 742,578 shares in the last quarter. Cannell Capital LLC raised its position in Nextdoor by 8.4% during the fourth quarter. Cannell Capital LLC now owns 6,733,574 shares of the company’s stock worth $15,959,000 after acquiring an additional 524,342 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in shares of Nextdoor by 103.5% in the first quarter. Acadian Asset Management LLC now owns 4,770,086 shares of the company’s stock valued at $7,288,000 after purchasing an additional 2,426,228 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Nextdoor by 5.3% in the fourth quarter. Geode Capital Management LLC now owns 4,258,509 shares of the company’s stock valued at $10,095,000 after purchasing an additional 215,781 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in shares of Nextdoor by 98.2% in the fourth quarter. Renaissance Technologies LLC now owns 3,967,200 shares of the company’s stock valued at $9,402,000 after purchasing an additional 1,965,300 shares during the last quarter. Hedge funds and other institutional investors own 35.66% of the company’s stock.

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.