Klaviyo (NYSE:KVYO) Price Target Raised to $45.00

Klaviyo (NYSE:KVYO) had its price objective increased by Robert W. Baird from $42.00 to $45.00 in a report issued on Thursday,Benzinga reports. They currently have an outperform rating on the stock.

KVYO has been the topic of several other research reports. Macquarie initiated coverage on Klaviyo in a report on Thursday, October 31st. They set a “neutral” rating and a $36.00 price target on the stock. KeyCorp upgraded shares of Klaviyo from a “sector weight” rating to an “overweight” rating and set a $33.00 target price on the stock in a report on Thursday, August 8th. Needham & Company LLC restated a “buy” rating and set a $40.00 price target on shares of Klaviyo in a report on Wednesday, September 4th. Piper Sandler lifted their price objective on Klaviyo from $34.00 to $45.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Finally, Benchmark decreased their target price on Klaviyo from $42.00 to $40.00 and set a “buy” rating for the company in a research note on Thursday. Three research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $39.00.

Klaviyo Price Performance

KVYO traded down $0.43 during midday trading on Thursday, hitting $33.35. 2,299,979 shares of the company’s stock traded hands, compared to its average volume of 895,890. The company has a market cap of $8.89 billion, a PE ratio of -185.27 and a beta of 1.13. Klaviyo has a one year low of $21.26 and a one year high of $41.00. The stock’s fifty day simple moving average is $35.21 and its 200-day simple moving average is $28.66.

Klaviyo (NYSE:KVYO) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.04. The business had revenue of $235.09 million during the quarter, compared to analyst estimates of $226.33 million. Klaviyo had a negative net margin of 5.23% and a positive return on equity of 0.87%. Klaviyo’s quarterly revenue was up 33.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.24) EPS. On average, research analysts expect that Klaviyo will post -0.01 EPS for the current year.

Insider Activity

In other Klaviyo news, CFO Amanda Whalen sold 10,000 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $29.72, for a total transaction of $297,200.00. Following the completion of the transaction, the chief financial officer now owns 422,813 shares in the company, valued at $12,566,002.36. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Klaviyo news, CFO Amanda Whalen sold 10,000 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $29.72, for a total transaction of $297,200.00. Following the completion of the transaction, the chief financial officer now directly owns 422,813 shares in the company, valued at $12,566,002.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Summit Partners L. P sold 242,601 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $31.78, for a total transaction of $7,709,859.78. The disclosure for this sale can be found here. In the last 90 days, insiders sold 789,711 shares of company stock worth $25,143,646. 53.24% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Klaviyo

Institutional investors and hedge funds have recently bought and sold shares of the business. Janus Henderson Group PLC acquired a new position in shares of Klaviyo during the first quarter worth approximately $662,000. Swiss National Bank acquired a new position in Klaviyo during the 1st quarter worth $1,776,000. Blair William & Co. IL boosted its position in Klaviyo by 1,234.0% in the 1st quarter. Blair William & Co. IL now owns 175,531 shares of the company’s stock valued at $4,473,000 after buying an additional 162,373 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of Klaviyo in the 2nd quarter valued at $747,000. Finally, Clearbridge Investments LLC raised its position in shares of Klaviyo by 1.5% during the first quarter. Clearbridge Investments LLC now owns 2,205,684 shares of the company’s stock worth $56,201,000 after acquiring an additional 31,587 shares during the last quarter. Institutional investors and hedge funds own 45.43% of the company’s stock.

About Klaviyo

Klaviyo, Inc, a technology company, provides a software-as-a-service platform in the United States, other Americas, the Asia-Pacific, Europe, the Middle East, and Africa. The company offers Klaviyo, a cloud-native platform for data store, segmentation engine, campaigns and flows, and messaging infrastructure.