The Goldman Sachs Group Has Lowered Expectations for Nextdoor (NYSE:KIND) Stock Price

Nextdoor (NYSE:KIND) had its price target lowered by equities researchers at The Goldman Sachs Group from $3.00 to $2.50 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target suggests a potential upside of 47.49% from the company’s current price.

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

Nextdoor Price Performance

Shares of Nextdoor stock opened at $1.70 on Monday. The business has a 50-day moving average of $2.50 and a 200-day moving average of $2.48. The company has a market capitalization of $647.73 million, a PE ratio of -5.30 and a beta of 1.07. Nextdoor has a 1-year low of $1.60 and a 1-year high of $3.00.

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Cornerstone Partners Capital Management LLC increased its holdings in shares of Nextdoor by 83.9% in the fourth quarter. Cornerstone Partners Capital Management LLC now owns 586,522 shares of the company’s stock valued at $1,390,000 after buying an additional 267,527 shares in the last quarter. JPMorgan Chase & Co. grew its position in Nextdoor by 62.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 725,345 shares of the company’s stock worth $1,799,000 after purchasing an additional 278,185 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Nextdoor by 5.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,406,161 shares of the company’s stock valued at $3,487,000 after purchasing an additional 75,229 shares during the period. Travelers Companies Inc. acquired a new stake in Nextdoor during the 3rd quarter valued at $593,000. Finally, Barclays PLC raised its stake in Nextdoor by 326.2% during the 3rd quarter. Barclays PLC now owns 267,490 shares of the company’s stock valued at $663,000 after purchasing an additional 204,729 shares during the period. Institutional investors own 35.66% of the company’s stock.

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.