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

Nextdoor (NYSE:KIND) had its price objective upped by The Goldman Sachs Group from $2.50 to $3.00 in a report released on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective points to a potential upside of 4.17% from the company’s current price.

Separately, Morgan Stanley lifted their price objective on Nextdoor from $2.20 to $2.50 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd.

Nextdoor Stock Performance

NYSE:KIND traded up $0.29 during trading hours on Thursday, reaching $2.88. The company’s stock had a trading volume of 1,702,419 shares, compared to its average volume of 1,539,370. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of -7.61 and a beta of 1.08. Nextdoor has a 1 year low of $1.32 and a 1 year high of $2.99. The firm has a 50-day simple moving average of $2.44 and a 200-day simple moving average of $2.49.

Nextdoor (NYSE:KIND) 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. Nextdoor had a negative return on equity of 22.69% and a negative net margin of 65.63%. The company had revenue of $63.29 million for the quarter, compared to analysts’ expectations of $58.80 million. Equities analysts anticipate that Nextdoor will post -0.23 earnings per share for the current fiscal year.

Insider Transactions at Nextdoor

In related news, General Counsel Sophia Schwartz sold 17,529 shares of the stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $2.58, for a total transaction of $45,224.82. Following the completion of the sale, the general counsel now 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 46.04% of the company’s stock.

Institutional Investors Weigh In On Nextdoor

Several hedge funds have recently modified their holdings of the company. XTX Topco Ltd acquired a new stake in shares of Nextdoor in the second quarter valued at about $28,000. Creative Planning acquired a new stake in shares of Nextdoor during the 3rd quarter worth about $28,000. Ground Swell Capital LLC purchased a new stake in shares of Nextdoor in the 2nd quarter valued at approximately $30,000. Xponance Inc. acquired a new position in Nextdoor during the second quarter worth $31,000. Finally, nVerses Capital LLC purchased a new position in Nextdoor during the 2nd quarter valued at about $49,000. 35.66% of the stock is owned by hedge funds and other 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.