Nextdoor (NYSE:KIND) Stock Rating Lowered by Zacks Investment Research

Nextdoor (NYSE:KINDGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday, Zacks.com reports.

According to Zacks, “Nextdoor Holdings Inc. operates neighborhood network which connects neighbors, businesses and public services. It enables neighbors to receive information, give and get help and get things done. Nextdoor Holdings Inc., formerly known as Khosla Ventures Acquisition Co. II, is based in SAN FRANCISCO. “

KIND has been the topic of a number of other research reports. Truist Financial initiated coverage on shares of Nextdoor in a report on Tuesday, March 29th. They set a “hold” rating and a $7.00 price target on the stock. Citigroup initiated coverage on shares of Nextdoor in a report on Tuesday, April 19th. They set a “neutral” rating and a $6.50 price target on the stock. The Goldman Sachs Group cut their price target on shares of Nextdoor from $10.00 to $8.00 and set a “neutral” rating on the stock in a report on Friday, April 1st. Finally, Morgan Stanley lowered their target price on shares of Nextdoor from $7.00 to $6.50 and set an “equal weight” rating on the stock in a research note on Tuesday, March 29th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Nextdoor has an average rating of “Hold” and an average price target of 7.88.

Shares of NYSE:KIND traded up 0.35 during mid-day trading on Thursday, hitting 3.15. The stock had a trading volume of 6,666,100 shares, compared to its average volume of 2,016,904. Nextdoor has a 12-month low of 2.47 and a 12-month high of 18.59. The company’s 50 day moving average is 4.39 and its 200-day moving average is 6.41.

Nextdoor (NYSE:KINDGet Rating) last released its earnings results on Tuesday, May 10th. The company reported -0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of -0.14 by 0.05. The company had revenue of 51.00 million during the quarter, compared to analysts’ expectations of 48.40 million. On average, equities analysts predict that Nextdoor will post -0.3 earnings per share for the current year.

Several large investors have recently added to or reduced their stakes in KIND. International Assets Investment Management LLC bought a new position in shares of Nextdoor during the 4th quarter worth about $79,000. AJ Wealth Strategies LLC bought a new position in Nextdoor during the 4th quarter valued at about $80,000. ARK Investment Management LLC bought a new position in Nextdoor during the 4th quarter valued at about $44,342,000. Nomura Asset Management Co. Ltd. bought a new position in Nextdoor during the 4th quarter valued at about $1,213,000. Finally, Yarbrough Capital LLC bought a new position in Nextdoor during the 4th quarter valued at about $316,000.

About Nextdoor (Get Rating)

Nextdoor Holdings, Inc operates as the neighborhood network that connects neighbors, businesses, and public services in the United States and internationally. It enables small and mid-sized businesses, large brands, public agencies, and nonprofits to receive information, give and get help, and build connections.

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