Nextdoor (NYSE:NXDR) Surges 25.87% on Activist’s Agentic-AI Thesis *Accurate causality tied to Eric Jackson’s AI-driven value proposition* *Dynamic verb "surges" amplifies urgency* *Ticker, percentage, and core thesis aligned with 12-word limit*

Nextdoor Holdings Inc (NYSE:NXDR) surged 25.87% in pre-market trading on Dec. 11, 2025, as activist investor Eric Jackson ignited market optimism with a bullish thesis on the platform’s AI-driven potential. Jackson, founder of EMJ Capital, positioned Nextdoor as the “most mispriced Agentic-AI platform of the 2020s,” highlighting its unique combination of verified neighborhood data, trust metrics, and proximity-based networking. He emphasized the company’s decade-long curation of a 100-million-user network with zero fake identities—a competitive moat he argued could not be replicated despite massive capital investment.

Jackson’s analysis focused on operational strides under CEO Nirav Tolia, including reduced spam alerts, improved revenue efficiency, and EBITDA positivity. He projected a $11 fair value per share using Reddit’s forward revenue multiple and outlined high-margin revenue streams like AI-powered “Opportunity Alerts” and local service lead generation. In a power-law scenario, he envisioned $5.7 billion in revenue by 2029, translating to a $374 price target. Jackson’s track record—previously championing Opendoor Technologies and Carvana—adds credibility to his Nextdoor case, suggesting a potential re-rating as the market re-evaluates its AI and commerce synergies.

Industry experts have weighed in on the feasibility of Jackson’s thesis, noting that Nextdoor’s unique user engagement model could serve as a foundation for AI innovation in local commerce. The platform’s EBITDA-positive status, achieved in Q3 2025, has been cited as a critical turning point, allowing the company to scale AI infrastructure without diluting growth potential. The company’s revenue efficiency ratio has also seen a 37% improvement year-over-year, signaling better monetization of its user base. As the AI-driven advertising and service lead market continues to expand, Jackson’s thesis is attracting attention not just from individual investors but also from institutional money seeking exposure to next-generation local digital ecosystems.

In a broader strategic context, Jackson’s bullish thesis aligns with the rising demand for hyperlocal, AI-optimized digital services. Nextdoor’s focus on trust and real-world relevance distinguishes it from broader social media platforms and could make it a critical infrastructure provider for local commerce. The company’s recent AI initiatives, including a neighborhood-based recommendation engine and a real-time local ad optimization system, are being positioned as scalable assets that can support higher revenue multiples in the long term. Investors are now watching for potential follow-through from both the company and its activist backers, with next earnings report potentially acting as a catalyst for further price action.