Nextdoor (NYSE:KIND) Coverage Initiated by Analysts at Craig Hallum

Stock analysts at Craig Hallum began coverage on shares of Nextdoor (NYSE:KIND - Get Free Report) in a report issued on Thursday, Marketbeat reports. The brokerage set a "buy" rating and a $4.00 price target on the stock. Craig Hallum's target price points to a potential upside of 55.34% from the stock's previous close.

Separately, The Goldman Sachs Group lifted their price objective on Nextdoor from $2.50 to $3.00 and gave the stock a "neutral" rating in a report on Thursday, November 7th.

Nextdoor Price Performance

Nextdoor stock traded down $0.05 during mid-day trading on Thursday, reaching $2.58. 938,363 shares of the company were exchanged, compared to its average volume of 1,258,217. Nextdoor has a 12 month low of $1.57 and a 12 month high of $2.99. The company has a fifty day simple moving average of $2.46 and a 200-day simple moving average of $2.49. The firm has a market cap of $984.01 million, a PE ratio of -8.05 and a beta of 1.07.

Nextdoor (NYSE:KIND - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.04) EPS for the quarter, topping analysts' consensus estimates of ($0.05) by $0.01. Nextdoor had a negative net margin of 53.23% and a negative return on equity of 19.42%. The business had revenue of $65.61 million during the quarter, compared to analysts' expectations of $62.10 million. During the same period last year, the company posted ($0.10) earnings per share. Sell-side analysts anticipate that Nextdoor will post -0.22 earnings per share for the current year.

Insider Activity

In related news, General Counsel Sophia Schwartz sold 16,834 shares of the firm's stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $2.45, for a total transaction of $41,243.30. Following the completion of the transaction, the general counsel now owns 215,536 shares of the company's stock, valued at $528,063.20. This trade represents a 7.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders have sold 20,222 shares of company stock valued at $49,679. 46.04% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Nextdoor

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. lifted its holdings in Nextdoor by 62.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 725,345 shares of the company's stock worth $1,799,000 after purchasing an additional 278,185 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Nextdoor by 5.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,406,161 shares of the company's stock valued at $3,487,000 after acquiring an additional 75,229 shares in the last quarter. Travelers Companies Inc. purchased a new position in Nextdoor during the 3rd quarter worth approximately $593,000. Barclays PLC boosted its holdings in Nextdoor by 326.2% during the third quarter. Barclays PLC now owns 267,490 shares of the company's stock worth $663,000 after buying an additional 204,729 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd raised its position in shares of Nextdoor by 261.8% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 69,474 shares of the company's stock worth $172,000 after purchasing an additional 50,273 shares during the last quarter. Institutional investors own 35.66% of the company's stock.

Nextdoor Company Profile

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.