Nextdoor (NYSE:KIND – Free Report) had its price target raised by Morgan Stanley from $2.20 to $2.50 in a report issued on Tuesday, Benzinga reports. The firm currently has an equal weight rating on the stock.
Separately, The Goldman Sachs Group upped their price target on shares of Nextdoor from $2.25 to $2.50 and gave the stock a neutral rating in a report on Thursday, May 9th.
Read Our Latest Report on KIND
Nextdoor Price Performance
Nextdoor (NYSE:KIND – Get Free Report) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.02. The firm had revenue of $53.15 million during the quarter, compared to analyst estimates of $50.90 million. Nextdoor had a negative return on equity of 23.84% and a negative net margin of 64.19%. As a group, equities research analysts expect that Nextdoor will post -0.23 EPS for the current year.
Institutional Trading of Nextdoor
Large investors have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Nextdoor by 18.5% during the 1st quarter. Vanguard Group Inc. now owns 16,196,377 shares of the company’s stock worth $36,442,000 after purchasing an additional 2,529,694 shares during the period. Nikko Asset Management Americas Inc. increased its stake in shares of Nextdoor by 21.3% during the first quarter. Nikko Asset Management Americas Inc. now owns 11,698,259 shares of the company’s stock valued at $26,321,000 after buying an additional 2,058,131 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Nextdoor by 21.3% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 11,698,259 shares of the company’s stock valued at $26,321,000 after acquiring an additional 2,058,131 shares in the last quarter. ARK Investment Management LLC lifted its stake in Nextdoor by 56.7% in the fourth quarter. ARK Investment Management LLC now owns 10,787,494 shares of the company’s stock worth $20,388,000 after acquiring an additional 3,901,481 shares during the period. Finally, Flight Deck Capital LP grew its holdings in Nextdoor by 2.2% during the 4th quarter. Flight Deck Capital LP now owns 2,369,607 shares of the company’s stock worth $4,479,000 after acquiring an additional 51,237 shares in the last quarter. Hedge funds and other institutional investors own 35.66% of the company’s stock.
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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