Nextdoor (NYSE:KIND) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Nextdoor (NYSE:KIND - Free Report) had its price target increased by The Goldman Sachs Group from $2.50 to $3.00 in a research note issued to investors on Thursday,Benzinga reports. They currently have a neutral rating on the stock.

Separately, Morgan Stanley boosted their target price on Nextdoor from $2.20 to $2.50 and gave the company an "equal weight" rating in a research note on Tuesday, July 23rd.

Nextdoor Price Performance

Nextdoor stock traded up $0.25 during trading hours on Thursday, reaching $2.84. The stock had a trading volume of 3,983,750 shares, compared to its average volume of 1,549,931. The stock has a market cap of $1.08 billion, a PE ratio of -7.46 and a beta of 1.08. The company has a fifty day simple moving average of $2.44 and a 200-day simple moving average of $2.49. Nextdoor has a 52 week low of $1.32 and a 52 week high of $2.99.

Nextdoor (NYSE:KIND - Get Free Report) last posted its earnings results on Wednesday, August 7th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.01. The company had revenue of $63.29 million for the quarter, compared to analysts' expectations of $58.80 million. Nextdoor had a negative return on equity of 22.69% and a negative net margin of 65.63%. Research analysts predict that Nextdoor will post -0.23 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, General Counsel Sophia Schwartz sold 17,529 shares of the company's stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $2.58, for a total value of $45,224.82. Following the sale, the general counsel now directly owns 304,666 shares of the company's stock, valued at $786,038.28. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 46.04% of the stock is currently owned by company insiders.

Institutional Trading of Nextdoor

A number of hedge funds have recently modified their holdings of the business. XTX Topco Ltd purchased a new position in Nextdoor during the 2nd quarter valued at about $28,000. Ground Swell Capital LLC purchased a new position in shares of Nextdoor during the second quarter valued at approximately $30,000. Xponance Inc. bought a new stake in shares of Nextdoor in the 2nd quarter worth approximately $31,000. Creative Planning purchased a new stake in shares of Nextdoor in the 3rd quarter worth approximately $28,000. Finally, nVerses Capital LLC bought a new position in Nextdoor during the 2nd quarter valued at approximately $49,000. 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.