The trading price of Nextdoor Holdings Inc. (NYSE:KIND) floating higher at last check on Wednesday, May 24, closing at $2.43, 9.19% higher than its previous close.
Traders who pay close attention to intraday price movement should know that it has been fluctuating between $2.20 and $2.29. In examining the 52-week price action we see that the stock hit a 52-week high of $4.03 and a 52-week low of $1.82. Over the past month, the stock has gained 14.86% in value.
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Nextdoor Holdings Inc., whose market valuation is $853.82 million at the time of this writing, is expected to release its quarterly earnings report Aug 07, 2023 – Aug 11, 2023. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by -$0.09 per share this quarter, however they have predicted annual earnings per share of -$0.3 for 2023 and -$0.28 for 2024. It means analysts are expecting annual earnings per share growth of 16.70% this year and 6.70% next year.
Analysts have forecast the company to bring in revenue of $53.51 million for the current quarter, with the likely lows of $53.02 million and highs of $54 million. The average estimate suggests sales will likely down by -1.90% this quarter compared to what was recorded in the comparable quarter last year. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue in 2023 is $226.59 million. The company’s revenue is forecast to grow by 6.50% over what it did in 2023.
A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of Nextdoor Holdings Inc. 1 upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest KIND has a 50% Buy on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 25% Sell, while an average of long term indicators suggests that the stock is currently 50% Buy.
A quick review shows that KIND’s price is currently 12.16% off the SMA20 and 13.41% off the SMA50. The RSI metric on the 14-day chart is currently showing 63.33, and weekly volatility stands at 3.99%. When measured over the past 30 days, the indicator reaches 5.03%. Nextdoor Holdings Inc. (NYSE:KIND)’s beta value is currently sitting at 0, while the Average True Range indicator is currently displaying 0.13. With analysts defining $2.25-$5.00 as the low and high price targets, we arrive at a consensus price target of $2.97 for the trailing 12-month period. The current price is about 7.41% off the estimated low and -105.76% off the forecast high, based on this estimate. Investors will be thrilled if KIND’s share price rises to $2.55, which is the median consensus price. At that level, KIND’s share price would be -4.94% below current price.
To see how Nextdoor Holdings Inc. stock has been performing today in comparison to its peers in the industry, here are the numbers: KIND stock’s performance was 9.19% at last check in today’s session, and -11.78% in the past year. Also during today’s trading, the S&P 500 Index has plunged -0.85%, while the Dow Jones Industrial also saw a negative session, down -0.70% today.
An evaluation of the daily trading volume of Nextdoor Holdings Inc. (NYSE:KIND) indicates that the 3-month average is 953.41K. However, this figure has increased over the past 10 days to an average of 1.2 million.
Currently, records show that 373.02 million of the company’s shares remain outstanding. The insiders hold 0.40% of outstanding shares, whereas institutions hold 64.30%. The stats also highlight that short interest as of Apr 27, 2023, stood at 5.8 million shares, resulting in a short ratio of 8.03 at that time. From this, we can conclude that short interest is 1.55% of the company’s total outstanding shares. It is noteworthy that short shares in April were down slightly from the previous month’s figure, which was 6.01 million. However, since the stock’s price has seen 18.20% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.