Nextdoor (NYSE:KIND) PT Lowered to $4.00

Nextdoor (NYSE:KIND – Get Rating) had its price target reduced by investment analysts at The Goldman Sachs Group from $6.00 to $4.00 in a report issued on Thursday, The Fly reports.

A number of other research analysts have also weighed in on the stock. Zacks Investment Research raised shares of Nextdoor from a “hold” rating to a “buy” rating and set a $4.00 price objective on the stock in a research note on Thursday. Citigroup decreased their price objective on shares of Nextdoor from $6.50 to $4.50 and set a “neutral” rating for the company in a report on Thursday. Morgan Stanley decreased their price objective on shares of Nextdoor from $7.00 to $6.50 and set an “equal weight” rating for the company in a report on Tuesday, March 29th. Finally, Truist Financial assumed coverage on shares of Nextdoor in a report on Tuesday, March 29th. They set a “hold” rating and a $7.00 price objective for the company. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Nextdoor currently has an average rating of “Hold” and a consensus target price of 7.00.

Shares of NYSE KIND traded down 0.29 during midday trading on Thursday, reaching 3.39. 2,673,800 shares of the stock were exchanged, compared to its average volume of 2,157,210. The business has a 50-day simple moving average of 4.12 and a two-hundred day simple moving average of 6.09. Nextdoor has a 12 month low of 2.47 and a 12 month high of 18.59.

Nextdoor (NYSE:KIND – Get Rating) last posted its quarterly earnings data on Tuesday, May 10th. The company reported -0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of -0.14 by 0.05. The business had revenue of 51.00 million during the quarter, compared to the consensus estimate of 48.40 million. On average, research analysts anticipate that Nextdoor will post -0.3 EPS for the current fiscal year.

In related news, Director David L. Sze bought 2,175,518 shares of the company’s stock in a transaction on Monday, June 6th. The stock was acquired 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 directly owns 3,802,966 shares in the company, valued at approximately 12,739,936.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David L. Sze bought 2,050,000 shares of the company’s stock in a transaction on Friday, June 3rd. The shares were bought at an average price of 3.13 per share, with a total value of 6,416,500.00. Following the completion of the transaction, the director now owns 1,845,000 shares of the company’s stock, valued at 5,774,850. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 5,837,072 shares of company stock valued at $19,425,502. 41.91% of the stock is owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in the business. Bank of America Corp DE lifted its position in Nextdoor by 7.6% during the first quarter. Bank of America Corp DE now owns 277,003 shares of the company’s stock valued at $1,659,000 after purchasing an additional 19,494 shares during the last quarter. Van Hulzen Asset Management LLC lifted its position in Nextdoor by 104.2% during the first quarter. Van Hulzen Asset Management LLC now owns 50,594 shares of the company’s stock valued at $303,000 after purchasing an additional 25,816 shares during the last quarter. Capital World Investors lifted its holdings in shares of Nextdoor by 10.0% in the 1st quarter. Capital World Investors now owns 5,500,000 shares of the company’s stock worth $32,945,000 after acquiring an additional 500,000 shares during the last quarter. Quantbot Technologies LP lifted its holdings in shares of Nextdoor by 261.4% in the 1st 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. Finally, Royal Bank of Canada lifted its holdings in shares of Nextdoor by 3,955.4% in the 1st quarter. Royal Bank of Canada now owns 284,650 shares of the company’s stock worth $1,705,000 after acquiring an additional 277,631 shares during the last quarter.

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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