Nextdoor (NYSE:KIND) Given New $2.50 Price Target at The Goldman Sachs Group

Nextdoor (NYSE:KIND - Get Free Report) had its price target lowered by investment analysts at The Goldman Sachs Group from $3.00 to $2.50 in a research note issued on Monday,Benzinga reports. The firm currently has a "neutral" rating on the stock. The Goldman Sachs Group's price objective suggests a potential upside of 49.70% from the stock's current price.

Separately, Craig Hallum assumed coverage on Nextdoor in a report on Thursday, January 30th. They issued a "buy" rating and a $4.00 price target for the company.

Nextdoor Stock Down 5.6 %

KIND traded down $0.10 during trading hours on Monday, hitting $1.67. The stock had a trading volume of 7,131,115 shares, compared to its average volume of 1,901,495. The stock has a market cap of $638.18 million, a PE ratio of -5.22 and a beta of 1.07. Nextdoor has a 1 year low of $1.62 and a 1 year high of $3.00. The company's fifty day simple moving average is $2.51 and its 200 day simple moving average is $2.48.

Nextdoor (NYSE:KIND - Get Free Report) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.03) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.03). The company had revenue of $65.23 million for the quarter, compared to analyst estimates of $63.12 million. Nextdoor had a negative net margin of 53.23% and a negative return on equity of 19.42%. As a group, equities analysts expect that Nextdoor will post -0.22 EPS for the current year.

Hedge Funds Weigh In On Nextdoor

A number of large investors have recently modified their holdings of KIND. AXQ Capital LP purchased a new stake in Nextdoor in the 4th quarter worth approximately $25,000. Tower Research Capital LLC TRC grew its position in shares of Nextdoor by 77.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 10,372 shares of the company's stock valued at $25,000 after purchasing an additional 4,514 shares in the last quarter. SVB Wealth LLC bought a new position in shares of Nextdoor in the fourth quarter worth $27,000. Creative Planning purchased a new stake in shares of Nextdoor in the third quarter worth $28,000. Finally, US Bancorp DE bought a new stake in Nextdoor during the fourth quarter valued at $29,000. 35.66% of the stock is currently owned by institutional investors.

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.