Klaviyo (NYSE:KVYO) Price Target Raised to $50.00

Klaviyo (NYSE:KVYO) had its target price raised by Piper Sandler from $45.00 to $50.00 in a report published on Monday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

A number of other research analysts have also weighed in on the company. Macquarie reaffirmed a “neutral” rating and set a $36.00 price objective on shares of Klaviyo in a report on Friday, November 8th. Loop Capital upped their price target on shares of Klaviyo from $45.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, December 23rd. Canaccord Genuity Group raised their price objective on shares of Klaviyo from $32.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Stifel Nicolaus started coverage on shares of Klaviyo in a research report on Tuesday, October 22nd. They set a “buy” rating and a $45.00 target price on the stock. Finally, Benchmark reduced their price target on shares of Klaviyo from $42.00 to $40.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, Klaviyo presently has an average rating of “Moderate Buy” and a consensus target price of $41.41.

Klaviyo Stock Performance

Shares of Klaviyo stock opened at $40.98 on Monday. Klaviyo has a one year low of $21.26 and a one year high of $44.77. The company has a market cap of $11.05 billion, a P/E ratio of -227.65 and a beta of 0.57. The firm has a fifty day moving average of $39.19 and a two-hundred day moving average of $33.60.

Klaviyo (NYSE:KVYO) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.04. Klaviyo had a negative net margin of 5.23% and a positive return on equity of 0.86%. The firm had revenue of $235.09 million during the quarter, compared to the consensus estimate of $226.33 million. During the same quarter last year, the firm earned ($1.24) earnings per share. The firm’s revenue was up 33.7% compared to the same quarter last year. As a group, equities analysts predict that Klaviyo will post 0.03 earnings per share for the current year.

Insider Activity

In other Klaviyo news, insider Landon Edmond sold 40,000 shares of Klaviyo stock in a transaction dated 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 completion of the sale, the insider now owns 236,621 shares in the company, valued at $8,177,621.76. The trade was a 14.46 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, President Stephen Eric Rowland sold 4,536 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $34.56, for a total transaction of $156,764.16. Following the transaction, the president now directly owns 186,785 shares of the company’s stock, valued at approximately $6,455,289.60. This represents a 2.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 117,650 shares of company stock valued at $4,323,105 over the last 90 days. Insiders own 53.24% of the company’s stock.

Institutional Investors Weigh In On Klaviyo

A number of institutional investors have recently bought and sold shares of KVYO. Advisors Asset Management Inc. boosted its holdings in shares of Klaviyo by 145.6% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company’s stock valued at $48,000 after purchasing an additional 808 shares during the last quarter. nVerses Capital LLC purchased a new position in shares of Klaviyo in the 3rd quarter worth $53,000. Dark Forest Capital Management LP boosted its holdings in Klaviyo by 13.7% in the second quarter. Dark Forest Capital Management LP now owns 23,689 shares of the company’s stock valued at $590,000 after acquiring an additional 2,851 shares during the last quarter. West Tower Group LLC purchased a new stake in Klaviyo during the third quarter valued at about $177,000. Finally, Victory Capital Management Inc. acquired a new stake in Klaviyo during the third quarter worth about $208,000. 45.43% of the stock is currently owned by hedge funds and other institutional investors.

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.