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

Klaviyo (NYSE:KVYO) had its price target increased by analysts at The Goldman Sachs Group from $45.00 to $51.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. The Goldman Sachs Group’s target price would suggest a potential upside of 19.21% from the stock’s current price.

Several other research analysts have also recently commented on KVYO. Loop Capital boosted their price target on shares of Klaviyo from $45.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, December 23rd. KeyCorp increased their target price on Klaviyo from $42.00 to $45.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Canaccord Genuity Group lifted their price target on Klaviyo from $40.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday. Scotiabank increased their price objective on Klaviyo from $35.00 to $45.00 and gave the company a “sector perform” rating in a report on Wednesday, January 29th. Finally, William Blair reissued an “outperform” rating on shares of Klaviyo in a research report on Thursday. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, Klaviyo currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.39.

Klaviyo Price Performance

Shares of NYSE KVYO traded down $4.22 during mid-day trading on Thursday, hitting $42.78. The company had a trading volume of 2,861,270 shares, compared to its average volume of 1,186,394. Klaviyo has a 1-year low of $21.26 and a 1-year high of $49.55. The company has a market capitalization of $11.54 billion, a PE ratio of -237.69 and a beta of 0.60. The business’s 50-day simple moving average is $43.56 and its 200 day simple moving average is $37.75.

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

Insider Transactions at Klaviyo

In other news, CFO Amanda Whalen sold 23,950 shares of Klaviyo stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $40.04, for a total value of $958,958.00. Following the sale, the chief financial officer now owns 395,616 shares of the company’s stock, valued at $15,840,464.64. The trade was a 5.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Stephen Eric Rowland sold 4,536 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $40.04, for a total transaction of $181,621.44. Following the transaction, the president now owns 260,403 shares in the company, valued at approximately $10,426,536.12. This trade represents a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 114,536 shares of company stock worth $4,720,953. Company insiders own 53.24% of the company’s stock.

Institutional Trading of Klaviyo

Hedge funds have recently modified their holdings of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Klaviyo by 76.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 105,178 shares of the company’s stock worth $4,338,000 after acquiring an additional 45,523 shares during the period. Voloridge Investment Management LLC raised its holdings in Klaviyo by 15.7% in the 4th quarter. Voloridge Investment Management LLC now owns 922,832 shares of the company’s stock valued at $38,058,000 after acquiring an additional 125,352 shares during the last quarter. Washington Harbour Partners LP purchased a new position in Klaviyo during the fourth quarter worth about $1,794,000. Whale Rock Capital Management LLC lifted its holdings in shares of Klaviyo by 7.4% during the 4th quarter. Whale Rock Capital Management LLC now owns 3,868,451 shares of the company’s stock worth $159,535,000 after acquiring an additional 267,845 shares during the period. Finally, Squarepoint Ops LLC acquired a new position in shares of Klaviyo in the 4th quarter valued at $2,099,000. 45.43% of the stock is owned by institutional investors and hedge funds.

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.