Klaviyo (NYSE:KVYO) Stock Price Expected to Rise, Citigroup Analyst Says

Klaviyo (NYSE:KVYO) had its price target raised by Citigroup from $39.00 to $48.00 in a research note published on Tuesday,Benzinga reports. Citigroup currently has a neutral rating on the stock.

A number of other brokerages have also weighed in on KVYO. Loop Capital raised their price objective on Klaviyo from $45.00 to $60.00 and gave the company a “buy” rating in a report on Monday, December 23rd. Macquarie restated a “neutral” rating and issued a $36.00 price objective on shares of Klaviyo in a report on Friday, November 8th. Stifel Nicolaus started coverage on Klaviyo in a report on Tuesday, October 22nd. They issued a “buy” rating and a $45.00 price objective on the stock. Canaccord Genuity Group raised their price objective on Klaviyo from $32.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, KeyCorp raised their target price on Klaviyo from $42.00 to $45.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $44.29.

Klaviyo Stock Performance

Shares of KVYO stock opened at $47.96 on Tuesday. The stock’s fifty day moving average is $42.77 and its two-hundred day moving average is $36.99. The firm has a market capitalization of $12.93 billion, a P/E ratio of -266.42 and a beta of 0.60. Klaviyo has a fifty-two week low of $21.26 and a fifty-two week high of $49.55.

Insider Buying and Selling

In related news, CFO Amanda Whalen sold 1,050 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $40.07, for a total transaction of $42,073.50. Following the completion of the sale, the chief financial officer now directly owns 395,616 shares of the company’s stock, valued at approximately $15,852,333.12. This trade represents a 0.26 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Stephen Eric Rowland sold 4,536 shares of Klaviyo stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $34.56, for a total value of $156,764.16. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 174,072 shares of company stock valued at $6,778,517. 53.24% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Klaviyo

Several hedge funds and other institutional investors have recently made changes to their positions in KVYO. Whale Rock Capital Management LLC boosted its stake in shares of Klaviyo by 608.9% in 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. Vanguard Group Inc. boosted its stake in shares of Klaviyo by 9.1% in the 4th quarter. Vanguard Group Inc. now owns 7,721,855 shares of the company’s stock valued at $318,449,000 after buying an additional 646,628 shares during the period. Franklin Resources Inc. boosted its stake in shares of Klaviyo by 48.6% in the 4th quarter. Franklin Resources Inc. now owns 1,943,523 shares of the company’s stock valued at $80,151,000 after buying an additional 635,962 shares during the period. Norges Bank purchased a new position in shares of Klaviyo in the 4th quarter valued at about $25,197,000. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of Klaviyo in the 4th quarter valued at about $19,751,000. Hedge funds and other 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.