Klaviyo (NYSE:KVYO) Price Target Raised to $48.00

Klaviyo (NYSE:KVYO) had its price objective increased by Citigroup from $39.00 to $48.00 in a report published on Tuesday morning,Benzinga reports. They currently have a neutral rating on the stock.

Several other equities analysts also recently commented on KVYO. William Blair reaffirmed an “outperform” rating on shares of Klaviyo in a research note on Thursday, December 19th. Benchmark lowered their price target on Klaviyo from $42.00 to $40.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Canaccord Genuity Group increased their price objective on Klaviyo from $32.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Robert W. Baird upped their target price on Klaviyo from $42.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, Loop Capital lifted their price target on shares of Klaviyo from $45.00 to $60.00 and gave the company a “buy” rating in a report on Monday, December 23rd. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $43.88.

Klaviyo Stock Performance

NYSE:KVYO opened at $47.59 on Tuesday. The business has a 50 day moving average price of $42.41 and a 200-day moving average price of $36.77. Klaviyo has a fifty-two week low of $21.26 and a fifty-two week high of $49.55. The firm has a market cap of $12.83 billion, a PE ratio of -264.39 and a beta of 0.60.

Insider Buying and Selling

In related news, CFO Amanda Whalen sold 1,050 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $40.07, for a total value of $42,073.50. Following the transaction, the chief financial officer now directly owns 395,616 shares of the company’s stock, valued at approximately $15,852,333.12. This represents a 0.26 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President Stephen Eric Rowland sold 4,536 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $34.56, for a total value of $156,764.16. Following the sale, the president now owns 186,785 shares in the company, valued at approximately $6,455,289.60. This represents a 2.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 174,072 shares of company stock worth $6,778,517 in the last 90 days. Insiders own 53.24% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in Klaviyo by 9.1% in the 4th quarter. Vanguard Group Inc. now owns 7,721,855 shares of the company’s stock worth $318,449,000 after buying an additional 646,628 shares in the last quarter. Whale Rock Capital Management LLC lifted its holdings in shares of Klaviyo by 608.9% during the 3rd quarter. Whale Rock Capital Management LLC now owns 3,600,606 shares of the company’s stock valued at $127,389,000 after buying an additional 3,092,725 shares during the period. Bank of New York Mellon Corp boosted its position in Klaviyo by 5.0% in the fourth quarter. Bank of New York Mellon Corp now owns 2,926,187 shares of the company’s stock worth $120,676,000 after purchasing an additional 140,127 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Klaviyo by 41.9% in the fourth quarter. American Century Companies Inc. now owns 1,209,612 shares of the company’s stock worth $49,884,000 after buying an additional 357,194 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Klaviyo by 45.1% during the 3rd quarter. Geode Capital Management LLC now owns 786,186 shares of the company’s stock worth $27,827,000 after acquiring an additional 244,447 shares during the last quarter. 45.43% of the stock is owned by institutional investors.

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.