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

Klaviyo (NYSE:KVYO) had its price target lifted by Scotiabank from $35.00 to $45.00 in a report published on Wednesday,Benzinga reports. Scotiabank currently has a sector perform rating on the stock.

KVYO has been the topic of several other reports. Canaccord Genuity Group raised their price objective on Klaviyo from $32.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Macquarie restated a “neutral” rating and issued a $36.00 price target on shares of Klaviyo in a research note on Friday, November 8th. Morgan Stanley upped their price objective on shares of Klaviyo from $38.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Monday, January 13th. Barclays raised their target price on shares of Klaviyo from $32.00 to $41.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Finally, William Blair reiterated an “outperform” rating on shares of Klaviyo in a report on Thursday, December 19th. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $43.18.

Klaviyo Trading Down 2.7 %

Shares of Klaviyo stock opened at $45.94 on Wednesday. Klaviyo has a 12-month low of $21.26 and a 12-month high of $47.96. The firm’s 50-day moving average price is $40.93 and its two-hundred day moving average price is $35.53.

Klaviyo (NYSE:KVYO) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.04. The business had revenue of $235.09 million for 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 0.86%. The firm’s revenue for the quarter was up 33.7% on a year-over-year basis. During the same quarter last year, the business posted ($1.24) EPS. Equities research analysts anticipate that Klaviyo will post 0.03 EPS for the current year.

Insider Activity

In other Klaviyo news, insider Landon Edmond sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $34.56, for a total value of $1,382,400.00. Following the transaction, the insider now directly owns 236,621 shares of the company’s stock, valued at approximately $8,177,621.76. The trade was a 14.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Stephen Eric Rowland sold 4,536 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $40.04, for a total value of $181,621.44. Following the transaction, the president now owns 260,403 shares in the company, valued at $10,426,536.12. The trade was a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 159,072 shares of company stock valued at $6,090,767. 53.24% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Klaviyo

Several institutional investors have recently made changes to their positions in the stock. Advisors Asset Management Inc. raised its stake in Klaviyo by 145.6% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company’s stock worth $48,000 after buying an additional 808 shares during the period. nVerses Capital LLC bought a new position in shares of Klaviyo in the 3rd quarter worth $53,000. West Tower Group LLC acquired a new stake in Klaviyo in the 3rd quarter valued at $177,000. Victory Capital Management Inc. bought a new stake in Klaviyo during the 3rd quarter valued at $208,000. Finally, William Marsh Rice University bought a new position in shares of Klaviyo in the third quarter valued at $245,000. Institutional investors and hedge funds own 45.43% of the company’s stock.

Klaviyo Company Profile

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.