why Nextdoor Holdings Inc. [KIND] is a Good Choice for Investors After New Price Target of $5.40


Nextdoor Holdings Inc. [NYSE: KIND] plunged by -$0.38 during the normal trading session on Thursday and reaching a high of $3.55 during the day while it closed the day at $3.20. The company report on July 11, 2022 that Nextdoor’s 2022 Neighborhood Favorites Awards Shine Light on Local Businesses.

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For the first time, top 10 winners will be awarded free advertising credits on the neighborhood network to continue growing their businesses.

Nextdoor (NYSE: KIND), the neighborhood network, today announced voting has begun for the 6th annual Neighborhood Favorites: an awards program recognizing local businesses committed to helping their neighborhoods thrive. The 2022 Neighborhood Favorites voting period is open from July 11 to July 29, 2022. For the first time, the top 10 winning businesses will be awarded $500 in Nextdoor Ads to help continue growing their business, turning neighbors into customers.*.

Nextdoor Holdings Inc. stock has also loss -20.20% of its value over the past 7 days. However, KIND stock has declined by -40.63% in the 3 months of the year. Over the past six months meanwhile, it has lost -55.24% and lost -59.44% year-on date.

The market cap for KIND stock reached $1.28 billion, with 381.88 million shares outstanding and 115.89 million shares in the current float. Compared to the average trading volume of 2.97M shares, KIND reached a trading volume of 2284061 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Nextdoor Holdings Inc. [KIND]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for KIND shares is $5.40 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on KIND stock is a recommendation set at 2.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Citigroup have made an estimate for Nextdoor Holdings Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on April 20, 2022. While these analysts kept the previous recommendation, Truist raised their target price to Hold. The new note on the price target was released on March 29, 2022, representing the official price target for Nextdoor Holdings Inc. stock. Previously, the target price had yet another raise to $7, while Morgan Stanley analysts kept a Equal-Weight rating on KIND stock.

The Average True Range (ATR) for Nextdoor Holdings Inc. is set at 0.28, with the Price to Sales ratio for KIND stock in the period of the last 12 months amounting to 5.27. The Price to Book ratio for the last quarter was 1.68, with the Price to Cash per share for the same quarter was set at 1.78.

KIND stock trade performance evaluation

Nextdoor Holdings Inc. [KIND] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -20.20. With this latest performance, KIND shares gained by 3.56% in over the last four-week period, additionally sinking by -55.24% over the last 6 months – not to mention a drop of -69.75% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for KIND stock in for the last two-week period is set at 43.24, with the RSI for the last a single of trading hit 38.37, and the three-weeks RSI is set at 44.32 for Nextdoor Holdings Inc. [KIND]. The present Moving Average for the last 50 days of trading for this stock 3.32, while it was recorded at 3.61 for the last single week of trading, and 6.72 for the last 200 days.

Nextdoor Holdings Inc. [KIND]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Nextdoor Holdings Inc. [KIND] shares currently have an operating margin of -49.33 and a Gross Margin at +82.84. Nextdoor Holdings Inc.’s Net Margin is presently recorded at -49.60.

Return on Equity for this stock declined to -21.32, with Return on Assets sitting at -18.02.

Nextdoor Holdings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 21.40 and a Current Ratio set at 21.40.

Nextdoor Holdings Inc. [KIND]: Insider Ownership positions

There are presently around $243 million, or 68.60% of KIND stock, in the hands of institutional investors. The top three institutional holders of KIND stocks are: BOND CAPITAL MANAGEMENT, LP with ownership of 6,957,234, which is approximately New of the company’s market cap and around 0.58% of the total institutional ownership; ARK INVESTMENT MANAGEMENT LLC, holding 6,622,750 shares of the stock with an approximate value of $21.19 million in KIND stocks shares; and CAPITAL WORLD INVESTORS, currently with $17.6 million in KIND stock with ownership of nearly 10% of the company’s market capitalization.

Positions in Nextdoor Holdings Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 60 institutional holders increased their position in Nextdoor Holdings Inc. [NYSE:KIND] by around 24,863,478 shares. Additionally, 43 investors decreased positions by around 19,435,609 shares, while 18 investors held positions by with 31,735,859 shares. The mentioned changes placed institutional holdings at 76,034,946 shares, according to the latest SEC report filing. KIND stock had 28 new institutional investments in for a total of 17,542,079 shares, while 19 institutional investors sold positions of 2,898,062 shares during the same period.