Nextdoor (NYSE:KIND) Lifted to “Buy” at Zacks Investment Research

Nextdoor (NYSE:KINDGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday, Zacks.com reports. The firm currently has a $4.00 price objective on the stock.

According to Zacks, “Nextdoor Holdings Inc. operates neighborhood network which connects neighbors, businesses and public services. It enables neighbors to receive information, give and get help and get things done. Nextdoor Holdings Inc., formerly known as Khosla Ventures Acquisition Co. II, is based in SAN FRANCISCO. “

Other analysts have also recently issued reports about the stock. The Goldman Sachs Group lowered their price target on shares of Nextdoor from $10.00 to $8.00 and set a “neutral” rating on the stock in a report on Friday, April 1st. Morgan Stanley decreased their price objective on shares of Nextdoor from $7.00 to $6.50 and set an “equal weight” rating for the company in a research report on Tuesday, March 29th. Truist Financial began coverage on shares of Nextdoor in a research report on Tuesday, March 29th. They issued a “hold” rating and a $7.00 price objective for the company. Finally, Citigroup began coverage on shares of Nextdoor in a research report on Tuesday, April 19th. They issued a “neutral” rating and a $6.50 price objective for the company. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of 8.00.

NYSE KIND opened at 3.68 on Thursday. Nextdoor has a 12 month low of 2.47 and a 12 month high of 18.59. The company’s 50-day moving average price is 4.17 and its 200-day moving average price is 6.14.

Nextdoor (NYSE:KINDGet Rating) last released its quarterly earnings results on Tuesday, May 10th. The company reported -0.09 earnings per share for the quarter, beating analysts’ consensus estimates of -0.14 by 0.05. The firm had revenue of 51.00 million during the quarter, compared to the consensus estimate of 48.40 million. As a group, equities research analysts anticipate that Nextdoor will post -0.3 earnings per share for the current year.

In other news, Director David L. Sze bought 2,175,518 shares of the business’s stock in a transaction dated Monday, June 6th. The stock was purchased at an average cost of 3.35 per share, with a total value of 7,287,985.30. Following the acquisition, the director now directly owns 3,802,966 shares in the company, valued at 12,739,936.10. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director David L. Sze bought 2,050,000 shares of the business’s stock in a transaction dated Friday, June 3rd. The shares were purchased at an average cost of 3.13 per share, with a total value of 6,416,500.00. Following the completion of the acquisition, the director now owns 1,845,000 shares in the company, valued at 5,774,850. The disclosure for this purchase can be found here. Company insiders own 41.91% of the company’s stock.

Large investors have recently bought and sold shares of the company. Westpac Banking Corp acquired a new stake in Nextdoor during the 4th quarter worth $569,000. Victory Capital Management Inc. acquired a new stake in Nextdoor during the 4th quarter worth $88,000. Sycale Advisors NY LLC acquired a new stake in Nextdoor during the 4th quarter worth $2,844,000. Allen Operations LLC acquired a new stake in Nextdoor during the 4th quarter worth $3,583,000. Finally, Evolutionary Tree Capital Management LLC acquired a new stake in Nextdoor during the 4th quarter worth $8,789,000.

About Nextdoor (Get Rating)

Nextdoor Holdings, Inc operates as the neighborhood network that connects neighbors, businesses, and public services in the United States and internationally. It enables small and mid-sized businesses, large brands, public agencies, and nonprofits to receive information, give and get help, and build connections.

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