Nextdoor (NYSE:NXDR) Stock Rating Upgraded by Wall Street Zen

Nextdoor (NYSE:NXDR) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

Several other analysts have also commented on the stock. Citigroup decreased their price target on shares of Nextdoor from $2.20 to $2.10 and set a “neutral” rating for the company in a research report on Friday. Weiss Ratings started coverage on shares of Nextdoor in a research note on Thursday, January 15th. They set a “sell (d-)” rating for the company. Finally, B. Riley Financial restated a “neutral” rating on shares of Nextdoor in a research note on Thursday. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Nextdoor has a consensus rating of “Reduce” and a consensus target price of $2.10.

Nextdoor Trading Down 4.3%

Shares of NYSE NXDR opened at $1.67 on Friday. The firm has a market cap of $652.86 million, a price-to-earnings ratio of -11.89 and a beta of 1.18. Nextdoor has a 12-month low of $1.32 and a 12-month high of $3.72.

Nextdoor (NYSE:NXDR) last released its quarterly earnings results on Wednesday, February 18th. The company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.03) by $0.02. Nextdoor had a negative return on equity of 11.48% and a negative net margin of 21.04%.The firm had revenue of $69.48 million during the quarter.

Insider Activity

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

Institutional Investors Weigh In On Nextdoor

A number of large investors have recently bought and sold shares of NXDR. Farther Finance Advisors LLC purchased a new position in Nextdoor during the 4th quarter worth approximately $25,000. Geneos Wealth Management Inc. acquired a new stake in shares of Nextdoor in the fourth quarter worth $26,000. Commonwealth Equity Services LLC purchased a new position in shares of Nextdoor during the fourth quarter worth $27,000. Mackenzie Financial Corp purchased a new position in shares of Nextdoor during the fourth quarter worth $29,000. Finally, Cibc World Markets Corp acquired a new position in Nextdoor during the fourth quarter valued at $30,000. 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.