Klaviyo (NYSE:KVYO) Now Covered by Analysts at Stephens

Investment analysts at Stephens assumed coverage on shares of Klaviyo (NYSE:KVYO) in a report released on Wednesday. The firm set an “overweight” rating and a $43.00 price target on the stock. Stephens’ price objective indicates a potential upside of 33.91% from the company’s previous close.

Other equities analysts also recently issued reports about the company. Canaccord Genuity Group upped their price target on Klaviyo from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Barclays upped their price target on Klaviyo from $47.00 to $51.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Piper Sandler upped their price target on Klaviyo from $50.00 to $53.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Citigroup upped their price target on Klaviyo from $39.00 to $48.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 11th. Finally, Morgan Stanley upped their price target on Klaviyo from $47.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 20th. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $49.11.

Klaviyo Stock Down 5.1 %

Shares of NYSE:KVYO opened at $32.11 on Wednesday. The company has a market capitalization of $8.77 billion, a price-to-earnings ratio of -178.40 and a beta of 0.86. Klaviyo has a 52 week low of $21.26 and a 52 week high of $49.55. The firm has a 50 day moving average of $41.68 and a 200 day moving average of $38.73.

Klaviyo (NYSE:KVYO) last issued its quarterly earnings data on Wednesday, February 19th. The company reported ($0.06) EPS 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 the consensus estimate of $257.24 million. Klaviyo had a positive return on equity of 0.89% and a negative net margin of 4.92%. On average, sell-side analysts expect that Klaviyo will post 0.04 EPS for the current year.

Insider Buying and Selling at Klaviyo

In other Klaviyo news, major shareholder Summit Partners L. P sold 2,000,000 shares of the company’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $32.44, for a total value of $64,880,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Amanda Whalen sold 15,000 shares of the company’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $33.54, for a total transaction of $503,100.00. Following the completion of the sale, the chief financial officer now directly owns 349,623 shares in the company, valued at approximately $11,726,355.42. The trade was a 4.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,126,246 shares of company stock valued at $69,799,958. 53.24% of the stock is owned by insiders.

Institutional Investors Weigh In On Klaviyo

Hedge funds have recently modified their holdings of the company. Y Intercept Hong Kong Ltd purchased a new stake in shares of Klaviyo during the 4th quarter worth about $374,000. Handelsbanken Fonder AB purchased a new stake in shares of Klaviyo during the 4th quarter worth about $689,000. Telemark Asset Management LLC purchased a new stake in shares of Klaviyo during the 4th quarter worth about $4,124,000. Integrated Wealth Concepts LLC purchased a new stake in shares of Klaviyo during the 3rd quarter worth about $5,113,000. Finally, Renaissance Capital LLC boosted its stake in shares of Klaviyo by 56.4% during the 4th quarter. Renaissance Capital LLC now owns 122,646 shares of the company’s stock worth $5,058,000 after acquiring an additional 44,245 shares in the last quarter. 45.43% of the stock is owned by hedge funds and other institutional investors.

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.