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

Nextdoor (NYSE:NXDR) issued its quarterly earnings data on Wednesday. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.02, FiscalAI reports. The firm had revenue of $61.67 million during the quarter. Nextdoor had a negative net margin of 21.04% and a negative return on equity of 11.48%.

Nextdoor Price Performance

NXDR traded up $0.27 during mid-day trading on Thursday, reaching $1.90. 9,016,837 shares of the stock were exchanged, compared to its average volume of 3,586,552. The stock has a market capitalization of $734.74 million, a PE ratio of -13.53 and a beta of 1.29. The business has a 50 day moving average of $1.53. Nextdoor has a 1 year low of $1.32 and a 1 year high of $3.72.

Hedge Funds Weigh In On Nextdoor

Hedge funds have recently bought and sold shares of the company. Farther Finance Advisors LLC purchased a new position in Nextdoor during the 4th quarter worth $25,000. Geneos Wealth Management Inc. purchased a new position in shares of Nextdoor in the 4th quarter worth about $26,000. Commonwealth Equity Services LLC purchased a new position in shares of Nextdoor in the 4th quarter worth about $27,000. Mackenzie Financial Corp purchased a new position in shares of Nextdoor in the 4th quarter worth about $29,000. Finally, Cibc World Markets Corp purchased a new position in shares of Nextdoor in the 4th quarter worth about $30,000. 35.66% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nextdoor in a report on Tuesday, April 14th. Wall Street Zen cut shares of Nextdoor from a “buy” rating to a “hold” rating in a report on Sunday, March 1st. B. Riley Financial reiterated a “neutral” rating on shares of Nextdoor in a report on Thursday, February 19th. Citigroup cut their price objective on shares of Nextdoor from $2.20 to $2.10 and set a “neutral” rating on the stock in a report on Friday, February 20th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $2.25 price objective on shares of Nextdoor in a report on Thursday. Three investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $2.18.

Nextdoor Company Profile

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.