Nextdoor (NYSE:KIND) Price Target Lowered to $2.50 at The Goldman Sachs Group

Nextdoor (NYSE:KIND) had its target price trimmed by The Goldman Sachs Group from $3.00 to $2.50 in a report issued on Monday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Separately, Craig Hallum initiated coverage on shares of Nextdoor in a research report on Thursday, January 30th. They issued a “buy” rating and a $4.00 price target for the company.

Nextdoor Stock Performance

Shares of KIND opened at $1.67 on Monday. The company has a 50 day moving average price of $2.51 and a 200-day moving average price of $2.48. Nextdoor has a fifty-two week low of $1.62 and a fifty-two week high of $3.00. The stock has a market capitalization of $638.18 million, a PE ratio of -5.22 and a beta of 1.07.

Nextdoor (NYSE:KIND) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.03) earnings per share for the quarter, hitting the consensus estimate of ($0.03). Nextdoor had a negative net margin of 53.23% and a negative return on equity of 19.42%. The firm had revenue of $65.23 million during the quarter, compared to analysts’ expectations of $63.12 million. Equities research analysts forecast that Nextdoor will post -0.22 EPS for the current year.

Institutional Investors Weigh In On Nextdoor

Hedge funds and other institutional investors have recently bought and sold shares of the company. AXQ Capital LP purchased a new stake in Nextdoor during the fourth quarter valued at approximately $25,000. Tower Research Capital LLC TRC lifted its position in Nextdoor by 77.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 10,372 shares of the company’s stock valued at $25,000 after acquiring an additional 4,514 shares during the last quarter. SVB Wealth LLC purchased a new stake in Nextdoor during the fourth quarter valued at approximately $27,000. Creative Planning purchased a new stake in Nextdoor during the third quarter valued at approximately $28,000. Finally, US Bancorp DE purchased a new stake in Nextdoor during the fourth quarter valued at approximately $29,000. Hedge funds and other institutional investors own 35.66% of the company’s stock.

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.