Klaviyo (NYSE:KVYO) Price Target Raised to $51.00

Klaviyo (NYSE:KVYO) had its target price upped by The Goldman Sachs Group from $45.00 to $51.00 in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research firms also recently weighed in on KVYO. Cantor Fitzgerald increased their price objective on Klaviyo from $47.00 to $54.00 and gave the company an “overweight” rating in a report on Thursday. Macquarie reiterated a “neutral” rating and set a $36.00 price target on shares of Klaviyo in a report on Friday, November 8th. Citigroup increased their price target on Klaviyo from $39.00 to $48.00 and gave the stock a “neutral” rating in a report on Tuesday, February 11th. Scotiabank increased their price target on Klaviyo from $35.00 to $45.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 29th. Finally, Benchmark increased their price target on Klaviyo from $40.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Klaviyo has an average rating of “Moderate Buy” and an average target price of $49.44.

Klaviyo Price Performance

NYSE KVYO opened at $41.79 on Thursday. The business has a fifty day moving average price of $43.72 and a two-hundred day moving average price of $38.04. Klaviyo has a fifty-two week low of $21.26 and a fifty-two week high of $49.55. The stock has a market capitalization of $11.27 billion, a PE ratio of -232.14 and a beta of 0.60.

Klaviyo (NYSE:KVYO) last announced its quarterly earnings results on Wednesday, February 19th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.12). Klaviyo had a negative net margin of 4.92% and a positive return on equity of 0.89%. The firm had revenue of $270.16 million during the quarter, compared to the consensus estimate of $257.24 million. As a group, sell-side analysts expect that Klaviyo will post 0.04 earnings per share for the current year.

Insider Activity at Klaviyo

In related news, insider Landon Edmond sold 40,000 shares of the firm’s 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 transaction, the insider now owns 298,607 shares of the company’s stock, valued at approximately $12,481,772.60. This trade represents a 11.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Amanda Whalen sold 23,950 shares of the firm’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $40.04, for a total transaction of $958,958.00. Following the completion of the transaction, the chief financial officer now directly owns 395,616 shares in the company, valued at approximately $15,840,464.64. The trade was a 5.71 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 114,536 shares of company stock valued at $4,720,953. 53.24% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Klaviyo

Several hedge funds have recently modified their holdings of KVYO. Lisanti Capital Growth LLC purchased a new position in shares of Klaviyo in the 3rd quarter worth approximately $5,513,000. Pier 88 Investment Partners LLC purchased a new position in shares of Klaviyo in the 3rd quarter worth approximately $966,000. SpiderRock Advisors LLC boosted its stake in shares of Klaviyo by 1,571.7% in the 3rd quarter. SpiderRock Advisors LLC now owns 501,500 shares of the company’s stock worth $17,743,000 after buying an additional 471,500 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new position in shares of Klaviyo in the 3rd quarter worth approximately $5,113,000. Finally, Renaissance Capital LLC boosted its stake in shares of Klaviyo by 56.4% in the 4th quarter. Renaissance Capital LLC now owns 122,646 shares of the company’s stock worth $5,058,000 after buying an additional 44,245 shares during the last quarter. Institutional investors 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.