Nextdoor (NYSE:KIND) PT Raised to $2.50

Nextdoor (NYSE:KIND) had its target price upped by investment analysts at The Goldman Sachs Group from $2.25 to $2.50 in a research report issued on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective would indicate a potential upside of 2.04% from the company’s current price.

Nextdoor Price Performance

NYSE KIND opened at $2.45 on Thursday. Nextdoor has a fifty-two week low of $1.32 and a fifty-two week high of $3.41. The business has a fifty day moving average price of $2.14 and a two-hundred day moving average price of $1.87. The stock has a market capitalization of $964.39 million, a PE ratio of -6.45 and a beta of 0.99.

Nextdoor (NYSE:KIND) last announced its quarterly earnings results on Tuesday, February 27th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.03. Nextdoor had a negative net margin of 67.69% and a negative return on equity of 24.22%. The company had revenue of $55.56 million during the quarter, compared to the consensus estimate of $50.94 million. As a group, sell-side analysts expect that Nextdoor will post -0.27 earnings per share for the current year.

Hedge Funds Weigh In On Nextdoor

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Nextdoor by 11.3% during the 3rd quarter. Vanguard Group Inc. now owns 12,756,262 shares of the company’s stock valued at $23,216,000 after acquiring an additional 1,292,918 shares in the last quarter. Algert Global LLC purchased a new position in Nextdoor during the third quarter worth about $707,000. ARK Investment Management LLC grew its position in Nextdoor by 56.7% in the 4th quarter. ARK Investment Management LLC now owns 10,787,494 shares of the company’s stock worth $20,388,000 after purchasing an additional 3,901,481 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Nextdoor by 1,753.5% during the 4th quarter. SG Americas Securities LLC now owns 787,271 shares of the company’s stock worth $1,488,000 after buying an additional 744,796 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Nextdoor by 38.2% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 94,138 shares of the company’s stock worth $178,000 after buying an additional 26,029 shares during the last quarter. 35.66% of the stock is currently owned by institutional investors.

About Nextdoor

Nextdoor Holdings, Inc operates a neighborhood network that connects neighbors, businesses, and public services in the United States and internationally. The company enables neighbors and organizations to get information, give and get help, and build connections. It also offers advertising solutions, designs to generate value for businesses for connection and sales expansion.