Klaviyo (NYSE:KVYO) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

Klaviyo (NYSE:KVYO) had its target price boosted by analysts at Needham & Company LLC from $40.00 to $46.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price target indicates a potential upside of 35.49% from the company’s current price.

KVYO has been the subject of several other research reports. Stifel Nicolaus started coverage on shares of Klaviyo in a research report on Tuesday, October 22nd. They issued a “buy” rating and a $45.00 price target for the company. Barclays lifted their price target on shares of Klaviyo from $32.00 to $41.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Cantor Fitzgerald lifted their price target on shares of Klaviyo from $33.00 to $47.00 and gave the company an “overweight” rating in a research report on Thursday. Piper Sandler lifted their price target on shares of Klaviyo from $34.00 to $45.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Finally, Macquarie started coverage on shares of Klaviyo in a research report on Thursday, October 31st. They issued a “neutral” rating and a $36.00 price target for the company. Three investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.00.

Klaviyo Stock Performance

Shares of KVYO stock traded down $6.41 during trading hours on Thursday, hitting $33.95. 6,523,419 shares of the company were exchanged, compared to its average volume of 1,153,295. The firm has a market cap of $9.05 billion, a P/E ratio of -24.62 and a beta of 1.13. Klaviyo has a fifty-two week low of $21.26 and a fifty-two week high of $41.00. The company has a 50 day simple moving average of $35.12 and a two-hundred day simple moving average of $28.55.

Klaviyo (NYSE:KVYO) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.10 by $0.05. The company had revenue of $222.21 million during the quarter, compared to the consensus estimate of $212.34 million. Klaviyo had a negative net margin of 42.15% and a negative return on equity of 32.19%. The company’s quarterly revenue was up 35.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.09 EPS. As a group, sell-side analysts expect that Klaviyo will post -0.01 EPS for the current fiscal year.

Insider Transactions at Klaviyo

In other news, President Stephen Eric Rowland sold 18,114 shares of Klaviyo stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $37.19, for a total transaction of $673,659.66. Following the sale, the president now directly owns 192,488 shares in the company, valued at $7,158,628.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, President Stephen Eric Rowland sold 18,114 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $37.19, for a total value of $673,659.66. Following the sale, the president now directly owns 192,488 shares in the company, valued at approximately $7,158,628.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Amanda Whalen sold 10,000 shares of the business’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $35.36, for a total value of $353,600.00. Following the completion of the sale, the chief financial officer now owns 422,813 shares in the company, valued at $14,950,667.68. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 871,477 shares of company stock worth $27,610,861 in the last ninety days. Company insiders own 53.24% of the company’s stock.

Institutional Investors Weigh In On Klaviyo

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Janus Henderson Group PLC bought a new stake in shares of Klaviyo during the first quarter valued at about $662,000. Swiss National Bank bought a new stake in shares of Klaviyo during the first quarter valued at about $1,776,000. Blair William & Co. IL increased its position in shares of Klaviyo by 1,234.0% during the first quarter. Blair William & Co. IL now owns 175,531 shares of the company’s stock valued at $4,473,000 after buying an additional 162,373 shares during the period. Canada Pension Plan Investment Board bought a new stake in shares of Klaviyo during the second quarter valued at about $747,000. Finally, Clearbridge Investments LLC increased its position in shares of Klaviyo by 1.5% during the first quarter. Clearbridge Investments LLC now owns 2,205,684 shares of the company’s stock valued at $56,201,000 after buying an additional 31,587 shares during the period. 45.43% of the stock is currently owned by 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.