Nextdoor (NYSE:KIND – Free Report) had its price objective boosted by Morgan Stanley from $2.20 to $2.50 in a research note published on Tuesday, Benzinga reports. The firm currently has an equal weight rating on the stock.
Separately, The Goldman Sachs Group raised their price objective on shares of Nextdoor from $2.25 to $2.50 and gave the stock a neutral rating in a research report on Thursday, May 9th.
Check Out Our Latest Report on KIND
Nextdoor Stock Performance
Nextdoor (NYSE:KIND – Get Free Report) last announced its quarterly earnings results on Tuesday, May 7th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.02. Nextdoor had a negative net margin of 64.19% and a negative return on equity of 23.84%. The firm had revenue of $53.15 million during the quarter, compared to analysts’ expectations of $50.90 million. On average, research analysts forecast that Nextdoor will post -0.23 earnings per share for the current year.
Institutional Trading of Nextdoor
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KIND. Westside Investment Management Inc. raised its position in shares of Nextdoor by 294.3% during the first quarter. Westside Investment Management Inc. now owns 15,408 shares of the company’s stock worth $35,000 after purchasing an additional 11,500 shares during the period. Tower Research Capital LLC TRC increased its holdings in Nextdoor by 266.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 24,688 shares of the company’s stock worth $47,000 after purchasing an additional 17,950 shares in the last quarter. Arizona State Retirement System raised its stake in shares of Nextdoor by 24.9% in the fourth quarter. Arizona State Retirement System now owns 39,612 shares of the company’s stock worth $75,000 after purchasing an additional 7,896 shares during the last quarter. Sivia Capital Partners LLC bought a new position in shares of Nextdoor in the fourth quarter valued at approximately $77,000. Finally, SG Americas Securities LLC boosted its position in shares of Nextdoor by 50.6% during the second quarter. SG Americas Securities LLC now owns 34,016 shares of the company’s stock valued at $95,000 after buying an additional 11,424 shares during the last quarter. 35.66% of the stock is owned by institutional investors.
About Nextdoor
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.
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