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Why Nextdoor Holdings, Inc. (KIND) Outpaced the Stock Market Today
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In the latest market close, Nextdoor Holdings, Inc. (KIND - Free Report) reached $1.64, with a +1.86% movement compared to the previous day. The stock exceeded the S&P 500, which registered a gain of 1.07% for the day. Meanwhile, the Dow gained 0.35%, and the Nasdaq, a tech-heavy index, added 1.74%.
The company's stock has dropped by 5.29% in the past month, falling short of the Computer and Technology sector's gain of 4.83% and the S&P 500's gain of 2.93%.
Investors will be eagerly watching for the performance of Nextdoor Holdings, Inc. in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on February 27, 2024. The company's upcoming EPS is projected at -$0.11, signifying a 22.22% drop compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $51.46 million, indicating a 3.41% decline compared to the corresponding quarter of the prior year.
Investors might also notice recent changes to analyst estimates for Nextdoor Holdings, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Right now, Nextdoor Holdings, Inc. possesses a Zacks Rank of #3 (Hold).
The Internet - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 78, finds itself in the top 31% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Why Nextdoor Holdings, Inc. (KIND) Outpaced the Stock Market Today
In the latest market close, Nextdoor Holdings, Inc. (KIND - Free Report) reached $1.64, with a +1.86% movement compared to the previous day. The stock exceeded the S&P 500, which registered a gain of 1.07% for the day. Meanwhile, the Dow gained 0.35%, and the Nasdaq, a tech-heavy index, added 1.74%.
The company's stock has dropped by 5.29% in the past month, falling short of the Computer and Technology sector's gain of 4.83% and the S&P 500's gain of 2.93%.
Investors will be eagerly watching for the performance of Nextdoor Holdings, Inc. in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on February 27, 2024. The company's upcoming EPS is projected at -$0.11, signifying a 22.22% drop compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $51.46 million, indicating a 3.41% decline compared to the corresponding quarter of the prior year.
Investors might also notice recent changes to analyst estimates for Nextdoor Holdings, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Right now, Nextdoor Holdings, Inc. possesses a Zacks Rank of #3 (Hold).
The Internet - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 78, finds itself in the top 31% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.