Nextdoor (NYSE:NXDR) Releases Earnings Results, Beats Estimates By $0.02 EPS

Nextdoor (NYSE:NXDR) issued its quarterly earnings data on Wednesday. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.02, FiscalAI reports. The company had revenue of $69.48 million for the quarter. Nextdoor had a negative net margin of 24.58% and a negative return on equity of 13.18%.

Nextdoor Price Performance

Shares of NXDR traded up $0.02 during trading hours on Thursday, hitting $1.67. The stock had a trading volume of 1,233,402 shares, compared to its average volume of 3,391,500. Nextdoor has a fifty-two week low of $1.32 and a fifty-two week high of $3.72. The stock has a market cap of $654.82 million, a P/E ratio of -10.44 and a beta of 1.18.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Weiss Ratings began coverage on shares of Nextdoor in a report on Thursday, January 15th. They issued a “sell (d-)” rating on the stock. B. Riley Financial restated a “neutral” rating on shares of Nextdoor in a research note on Thursday. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Nextdoor currently has a consensus rating of “Reduce”.

Insider Transactions at Nextdoor

In related news, CAO Antoinette How sold 13,935 shares of Nextdoor stock in a transaction on Friday, January 16th. The shares were sold at an average price of $1.95, for a total value of $27,173.25. Following the sale, the chief accounting officer owned 18,270 shares of the company’s stock, valued at approximately $35,626.50. This trade represents a 43.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Sophia Schwartz sold 23,278 shares of the company’s stock in a transaction dated Friday, January 16th. The stock was sold at an average price of $1.95, for a total transaction of $45,392.10. Following the transaction, the general counsel owned 286,587 shares of the company’s stock, valued at approximately $558,844.65. This trade represents a 7.51% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 33.39% of the company’s stock.

Institutional Trading of Nextdoor

Several hedge funds have recently made changes to their positions in NXDR. IMC Chicago LLC purchased a new stake in shares of Nextdoor during the 4th quarter worth $209,000. Pictet Asset Management Holding SA acquired a new stake in Nextdoor in the fourth quarter valued at $43,000. Geneos Wealth Management Inc. purchased a new stake in Nextdoor during the 4th quarter worth about $26,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Nextdoor during the 4th quarter worth about $229,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Nextdoor in the 4th quarter valued at about $172,000. Hedge funds and other 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.