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

Nextdoor (NYSE:KIND) had its target price reduced by investment analysts at The Goldman Sachs Group from $3.00 to $2.50 in a research report issued on Monday,Benzinga reports. The firm currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target points to a potential upside of 47.49% from the stock’s current price.

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

Nextdoor Trading Up 1.5 %

NYSE KIND opened at $1.70 on Monday. Nextdoor has a 1-year low of $1.60 and a 1-year high of $3.00. The company has a market capitalization of $647.73 million, a PE ratio of -5.30 and a beta of 1.07. The firm’s fifty day simple moving average is $2.50 and its 200-day simple moving average is $2.48.

Nextdoor (NYSE:KIND) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.03) earnings per share 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 business had revenue of $65.23 million for the quarter, compared to the consensus estimate of $63.12 million. As a group, analysts predict that Nextdoor will post -0.22 EPS for the current year.

Hedge Funds Weigh In On Nextdoor

Hedge funds have recently bought and sold shares of the business. Tower Research Capital LLC TRC increased its position in Nextdoor by 77.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 10,372 shares of the company’s stock worth $25,000 after buying an additional 4,514 shares during the last quarter. AXQ Capital LP acquired a new position in Nextdoor during the fourth quarter worth $25,000. Creative Planning acquired a new position in Nextdoor during the third quarter worth $28,000. SVB Wealth LLC acquired a new position in Nextdoor during the fourth quarter worth $27,000. Finally, US Bancorp DE bought a new stake in Nextdoor during the fourth quarter valued at about $29,000. 35.66% of the stock is owned by institutional investors and hedge funds.

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.