Mizuho Forecasts Strong Price Appreciation for Klaviyo (NYSE:KVYO) Stock

Klaviyo (NYSE:KVYO) had its target price upped by equities research analysts at Mizuho from $42.00 to $52.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Mizuho’s price target points to a potential upside of 24.39% from the company’s previous close.

KVYO has been the topic of a number of other research reports. Morgan Stanley increased their target price on Klaviyo from $47.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Thursday. Benchmark increased their target price on Klaviyo from $40.00 to $51.00 and gave the stock a “buy” rating in a research note on Wednesday. Needham & Company LLC increased their target price on Klaviyo from $46.00 to $56.00 and gave the stock a “buy” rating in a research note on Thursday. Cantor Fitzgerald increased their target price on Klaviyo from $47.00 to $54.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Wells Fargo & Company reduced their target price on Klaviyo from $48.00 to $45.00 and set an “equal weight” rating on the stock in a research note on Thursday. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $48.24.

Klaviyo Stock Down 11.1 %

KVYO traded down $5.20 during trading on Thursday, reaching $41.80. The company had a trading volume of 2,129,575 shares, compared to its average volume of 1,164,383. The stock has a market cap of $11.27 billion, a P/E ratio of -232.54 and a beta of 0.60. The business has a 50 day simple moving average of $43.56 and a 200-day simple moving average of $37.75. Klaviyo has a 52 week low of $21.26 and a 52 week high of $49.55.

Klaviyo (NYSE:KVYO) last issued its quarterly earnings results on Wednesday, February 19th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.12). The company had revenue of $270.16 million during the quarter, compared to the consensus estimate of $257.24 million. Klaviyo had a positive return on equity of 0.86% and a negative net margin of 5.23%. As a group, equities research analysts expect that Klaviyo will post 0.03 EPS for the current fiscal year.

Insider Buying and Selling at Klaviyo

In other Klaviyo news, CFO Amanda Whalen sold 15,000 shares of Klaviyo stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $45.85, for a total value of $687,750.00. Following the transaction, the chief financial officer now owns 376,820 shares in the company, valued at $17,277,197. The trade was a 3.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Landon Edmond sold 40,000 shares of Klaviyo stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $41.80, for a total value of $1,672,000.00. Following the completion of the transaction, the insider now owns 298,607 shares in the company, valued at $12,481,772.60. This trade represents a 11.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 114,536 shares of company stock worth $4,720,953 over the last quarter. Insiders own 53.24% of the company’s stock.

Institutional Investors Weigh In On Klaviyo

Several institutional investors have recently added to or reduced their stakes in KVYO. Advisors Asset Management Inc. boosted its holdings in Klaviyo by 145.6% in the third quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company’s stock worth $48,000 after acquiring an additional 808 shares in the last quarter. CIBC Private Wealth Group LLC boosted its holdings in Klaviyo by 169.5% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,752 shares of the company’s stock worth $72,000 after acquiring an additional 1,102 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in Klaviyo by 77.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,874 shares of the company’s stock worth $77,000 after acquiring an additional 818 shares in the last quarter. West Tower Group LLC acquired a new stake in Klaviyo in the third quarter worth about $177,000. Finally, SBI Securities Co. Ltd. acquired a new stake in Klaviyo in the fourth quarter worth about $196,000. 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.