Nextdoor (NYSE:KIND) PT Lowered to $4.50 at Citigroup

Nextdoor (NYSE:KINDGet Rating) had its target price lowered by investment analysts at Citigroup from $6.50 to $4.50 in a report issued on Thursday, Stock Target Advisor reports. The brokerage presently has a “neutral” rating on the stock.

Several other equities analysts also recently weighed in on the company. Zacks Investment Research upgraded Nextdoor from a “hold” rating to a “buy” rating and set a $4.00 target price on the stock in a research report on Thursday. Truist Financial initiated coverage on Nextdoor in a research report on Tuesday, March 29th. They set a “hold” rating and a $7.00 target price on the stock. Morgan Stanley lowered their target price on Nextdoor from $7.00 to $6.50 and set an “equal weight” rating on the stock in a research report on Tuesday, March 29th. Finally, The Goldman Sachs Group lowered their target price on Nextdoor from $10.00 to $8.00 and set a “neutral” rating on the stock in a research report on Friday, April 1st. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of 7.67.

Shares of KIND traded down 0.09 during trading hours on Thursday, hitting 3.59. The stock had a trading volume of 77,275 shares, compared to its average volume of 2,132,906. Nextdoor has a 12 month low of 2.47 and a 12 month high of 18.59. The stock has a fifty day moving average price of 4.17 and a 200 day moving average price of 6.14.

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

In other news, Director David L. Sze bought 2,175,518 shares of the firm’s stock in a transaction that occurred on Monday, June 6th. The shares were bought at an average cost of 3.35 per share, for a total transaction of 7,287,985.30. Following the completion of the transaction, the director now owns 3,802,966 shares of the company’s stock, valued at 12,739,936.10. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David L. Sze bought 2,050,000 shares of the firm’s stock in a transaction that occurred on Friday, June 3rd. The stock was purchased at an average price of 3.13 per share, for a total transaction of 6,416,500.00. Following the completion of the transaction, the director now directly owns 1,845,000 shares of the company’s stock, valued at approximately 5,774,850. The disclosure for this purchase can be found here. 41.91% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Quantbot Technologies LP increased its stake in Nextdoor by 261.4% during the first quarter. Quantbot Technologies LP now owns 4,922 shares of the company’s stock worth $29,000 after acquiring an additional 3,560 shares during the last quarter. Rockefeller Capital Management L.P. bought a new stake in Nextdoor during the fourth quarter worth approximately $40,000. Penserra Capital Management LLC bought a new stake in Nextdoor during the fourth quarter worth approximately $69,000. International Assets Investment Management LLC bought a new stake in Nextdoor during the fourth quarter worth approximately $79,000. Finally, AJ Wealth Strategies LLC bought a new position in shares of Nextdoor during the fourth quarter valued at approximately $80,000.

Nextdoor Company Profile (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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