The Goldman Sachs Group Issues Pessimistic Forecast for Nextdoor (NYSE:KIND) Stock Price

Nextdoor (NYSE:KIND) had its target price cut by investment analysts at The Goldman Sachs Group from $2.50 to $1.75 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective indicates a potential upside of 20.61% from the stock’s current price.

Separately, Craig Hallum began coverage on Nextdoor in a research report on Thursday, January 30th. They set a “buy” rating and a $4.00 target price for the company.

Nextdoor Stock Down 2.6 %

KIND stock traded down $0.04 during mid-day trading on Monday, reaching $1.45. 1,191,594 shares of the company traded hands, compared to its average volume of 1,761,786. The stock has a market cap of $560.52 million, a price-to-earnings ratio of -4.53 and a beta of 1.16. Nextdoor has a fifty-two week low of $1.35 and a fifty-two week high of $3.00. The firm’s 50 day moving average price is $1.97 and its 200 day moving average price is $2.30.

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

Insider Activity at Nextdoor

In other news, General Counsel Sophia Schwartz sold 15,000 shares of Nextdoor stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $1.72, for a total value of $25,800.00. Following the completion of the transaction, the general counsel now owns 267,445 shares in the company, valued at $460,005.40. This trade represents a 5.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 46.04% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Tower Research Capital LLC TRC lifted its holdings in Nextdoor by 77.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 10,372 shares of the company’s stock worth $25,000 after purchasing an additional 4,514 shares in the last quarter. AXQ Capital LP purchased a new stake in Nextdoor in the 4th quarter worth approximately $25,000. Wealth Enhancement Advisory Services LLC bought a new position in Nextdoor in the 4th quarter valued at $27,000. SVB Wealth LLC purchased a new position in shares of Nextdoor during the 4th quarter valued at $27,000. Finally, US Bancorp DE bought a new position in shares of Nextdoor in the fourth quarter worth $29,000. 35.66% of the stock is owned by 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.