The Goldman Sachs Group Lowers Nextdoor (NYSE:KIND) Price Target to $1.75

Nextdoor (NYSE:KIND - Free Report) had its target price lowered by The Goldman Sachs Group from $2.50 to $1.75 in a research note issued to investors on Monday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

Separately, Craig Hallum started coverage on Nextdoor in a research note on Thursday, January 30th. They set a "buy" rating and a $4.00 price target on the stock.

Nextdoor Stock Performance

Shares of KIND stock traded up $0.03 during trading on Monday, hitting $1.51. The company had a trading volume of 1,537,447 shares, compared to its average volume of 1,773,281. The stock's 50-day moving average price is $1.85 and its 200 day moving average price is $2.27. Nextdoor has a one year low of $1.35 and a one year high of $3.00. The firm has a market capitalization of $581.38 million, a P/E ratio of -4.70 and a beta of 1.16.

Nextdoor (NYSE:KIND - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.03) EPS for the quarter, hitting analysts' consensus estimates of ($0.03). Nextdoor had a negative return on equity of 19.42% and a negative net margin of 53.23%. The company had revenue of $65.23 million for the quarter, compared to analysts' expectations of $63.12 million. On average, research analysts anticipate that Nextdoor will post -0.22 earnings per share for the current fiscal year.

Insider Buying and Selling at Nextdoor

In other news, General Counsel Sophia Schwartz sold 15,000 shares of the business's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $1.72, for a total value of $25,800.00. Following the transaction, the general counsel now owns 267,445 shares in the company, valued at approximately $460,005.40. The trade was a 5.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 46.04% of the company's stock.

Hedge Funds Weigh In On Nextdoor

A number of hedge funds have recently bought and sold shares of KIND. AXQ Capital LP bought a new position in shares of Nextdoor in the 4th quarter worth about $25,000. Tower Research Capital LLC TRC lifted its stake in Nextdoor by 77.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,372 shares of the company's stock valued at $25,000 after buying an additional 4,514 shares during the period. SVB Wealth LLC bought a new position in shares of Nextdoor during the 4th quarter worth approximately $27,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Nextdoor in the 4th quarter valued at $27,000. Finally, US Bancorp DE bought a new stake in shares of Nextdoor in the 4th quarter valued at $29,000. 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.