Klaviyo (NYSE:KVYO) Price Target Raised to $53.00

Klaviyo (NYSE:KVYO) had its price target lifted by Piper Sandler from $50.00 to $53.00 in a report released on Thursday,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

A number of other analysts have also weighed in on KVYO. Canaccord Genuity Group increased their price objective on Klaviyo from $32.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Cantor Fitzgerald raised their price objective on Klaviyo from $33.00 to $47.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. William Blair restated an “outperform” rating on shares of Klaviyo in a report on Thursday, December 19th. Scotiabank boosted their price objective on shares of Klaviyo from $35.00 to $45.00 and gave the company a “sector perform” rating in a research report on Wednesday, January 29th. Finally, Citigroup increased their price objective on Klaviyo from $39.00 to $48.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 11th. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Klaviyo presently has a consensus rating of “Moderate Buy” and an average price target of $49.44.

Klaviyo Price Performance

Shares of Klaviyo stock opened at $44.23 on Thursday. Klaviyo has a 52 week low of $21.26 and a 52 week high of $49.55. The stock has a 50 day moving average price of $43.66 and a two-hundred day moving average price of $37.80.

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 analysts’ consensus estimates of $0.06 by ($0.12). Klaviyo had a negative net margin of 4.92% and a positive return on equity of 0.90%. The firm had revenue of $270.16 million during the quarter, compared to the consensus estimate of $257.24 million. As a group, sell-side analysts predict that Klaviyo will post 0.04 earnings per share for the current year.

Insider Buying and Selling at Klaviyo

In other Klaviyo news, President Stephen Eric Rowland sold 4,536 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were 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 owns 260,403 shares in the company, valued at approximately $10,426,536.12. This represents a 1.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Amanda Whalen sold 15,000 shares of the stock in a transaction on Friday, January 10th. The shares were sold at an average price of $39.18, for a total value of $587,700.00. Following the transaction, the chief financial officer now directly owns 391,820 shares of the company’s stock, valued at approximately $15,351,507.60. The trade was a 3.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 114,536 shares of company stock valued at $4,720,953 over the last three months. 53.24% of the stock is owned by company insiders.

Hedge Funds Weigh In On Klaviyo

Institutional investors have recently bought and sold shares of the stock. Advisors Asset Management Inc. raised its stake in shares of Klaviyo by 145.6% in the third quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company’s stock valued at $48,000 after purchasing an additional 808 shares in the last quarter. CIBC Private Wealth Group LLC lifted its stake in Klaviyo by 169.5% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,752 shares of the company’s stock valued at $72,000 after buying an additional 1,102 shares during the period. Tower Research Capital LLC TRC lifted its holdings in Klaviyo by 77.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,874 shares of the company’s stock worth $77,000 after acquiring an additional 818 shares in the last quarter. West Tower Group LLC bought a new position in Klaviyo during the 3rd quarter worth about $177,000. Finally, SBI Securities Co. Ltd. bought a new position in shares of Klaviyo in the 4th quarter valued at about $196,000. 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.