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

Klaviyo (NYSE:KVYO) had its price target hoisted by Canaccord Genuity Group from $40.00 to $50.00 in a report published on Thursday,Benzinga reports. They currently have a buy rating on the stock.

Several other equities research analysts have also commented on KVYO. Loop Capital lifted 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. William Blair reiterated an “outperform” rating on shares of Klaviyo in a research report on Thursday, December 19th. Macquarie reissued a “neutral” rating and issued a $36.00 target price on shares of Klaviyo in a research report on Friday, November 8th. Piper Sandler lifted their price target on Klaviyo from $50.00 to $53.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, 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. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $49.44.

Klaviyo Trading Down 5.6 %

Shares of KVYO opened at $41.79 on Thursday. The firm has a market capitalization of $11.27 billion, a price-to-earnings ratio of -232.14 and a beta of 0.60. The firm’s fifty day simple moving average is $43.72 and its 200-day simple moving average is $38.04. Klaviyo has a twelve month low of $21.26 and a twelve month high of $49.55.

Klaviyo (NYSE:KVYO) last posted its quarterly earnings results on Wednesday, February 19th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.12). The business had revenue of $270.16 million during the quarter, compared to analyst estimates of $257.24 million. Klaviyo had a negative net margin of 4.92% and a positive return on equity of 0.89%. On average, analysts predict that Klaviyo will post 0.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, President Stephen Eric Rowland sold 4,536 shares of the business’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $40.04, for a total value of $181,621.44. Following the completion of the transaction, the president now directly owns 260,403 shares of the company’s stock, valued at $10,426,536.12. The trade was a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Landon Edmond sold 40,000 shares of the business’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $41.80, for a total transaction of $1,672,000.00. Following the completion of the transaction, the insider now directly owns 298,607 shares of the company’s stock, valued at $12,481,772.60. The trade was a 11.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 114,536 shares of company stock worth $4,720,953 in the last quarter. Company insiders own 53.24% of the company’s stock.

Institutional Trading of Klaviyo

A number of hedge funds have recently bought and sold shares of KVYO. Bank Julius Baer & Co. Ltd Zurich lifted its stake in shares of Klaviyo by 8.0% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,836 shares of the company’s stock worth $220,000 after purchasing an additional 359 shares during the period. Victory Capital Management Inc. lifted its position in Klaviyo by 10.3% during the fourth quarter. Victory Capital Management Inc. now owns 6,469 shares of the company’s stock worth $267,000 after buying an additional 604 shares during the period. Arizona State Retirement System lifted its position in Klaviyo by 4.0% during the fourth quarter. Arizona State Retirement System now owns 16,854 shares of the company’s stock worth $695,000 after buying an additional 648 shares during the period. The Manufacturers Life Insurance Company boosted its stake in Klaviyo by 5.0% in the 4th quarter. The Manufacturers Life Insurance Company now owns 14,285 shares of the company’s stock worth $589,000 after buying an additional 677 shares during the last quarter. Finally, Advisors Asset Management Inc. grew its holdings in 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 buying an additional 808 shares during the period. 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.