Nextdoor (NYSE:KIND) Price Target Cut to $2.50 by Analysts at The Goldman Sachs Group

Nextdoor (NYSE:KIND) had its price objective reduced by The Goldman Sachs Group from $3.00 to $2.50 in a report released on Monday morning,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the stock.

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

Nextdoor Stock Down 5.6 %

Shares of NYSE:KIND opened at $1.67 on Monday. Nextdoor has a 52 week low of $1.62 and a 52 week high of $3.00. The stock has a market capitalization of $638.18 million, a P/E ratio of -5.22 and a beta of 1.07. The firm has a fifty day simple moving average of $2.51 and a two-hundred day simple moving average of $2.48.

Nextdoor (NYSE:KIND) last released 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 net margin of 53.23% and a negative return on equity of 19.42%. The firm had revenue of $65.23 million during the quarter, compared to analysts’ expectations of $63.12 million. On average, analysts expect that Nextdoor will post -0.22 earnings per share for the current year.

Hedge Funds Weigh In On Nextdoor

A number of hedge funds have recently added to or reduced their stakes in KIND. Renaissance Technologies LLC grew its stake in Nextdoor by 98.2% in the 4th quarter. Renaissance Technologies LLC now owns 3,967,200 shares of the company’s stock worth $9,402,000 after acquiring an additional 1,965,300 shares in the last quarter. Millennium Management LLC grew its stake in Nextdoor by 177.6% in the 4th quarter. Millennium Management LLC now owns 2,999,267 shares of the company’s stock worth $7,108,000 after acquiring an additional 1,918,884 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Nextdoor by 115.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,696,339 shares of the company’s stock worth $6,390,000 after acquiring an additional 1,444,343 shares in the last quarter. D. E. Shaw & Co. Inc. grew its stake in Nextdoor by 193.0% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 2,082,482 shares of the company’s stock worth $4,935,000 after acquiring an additional 1,371,705 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in Nextdoor by 6.3% in the 4th quarter. Vanguard Group Inc. now owns 17,609,806 shares of the company’s stock worth $41,735,000 after acquiring an additional 1,041,258 shares in the last quarter. 35.66% of the stock is currently 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.