Brokerages Set Klaviyo, Inc. (NYSE:KVYO) Target Price at $39.69

Klaviyo, Inc. (NYSE:KVYO) has received an average rating of “Moderate Buy” from the seventeen ratings firms that are presently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and fourteen have issued a buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $39.69.

A number of analysts recently weighed in on the company. Benchmark decreased their price objective on Klaviyo from $42.00 to $40.00 and set a “buy” rating for the company in a report on Thursday, November 7th. KeyCorp increased their price objective on Klaviyo from $42.00 to $45.00 and gave the company an “overweight” rating in a report on Friday. Needham & Company LLC increased their price objective on Klaviyo from $40.00 to $46.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Piper Sandler increased their price objective on Klaviyo from $34.00 to $45.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Finally, Stifel Nicolaus initiated coverage on Klaviyo in a report on Tuesday, October 22nd. They set a “buy” rating and a $45.00 price target for the company.

Insider Activity

In other news, CFO Amanda Whalen sold 10,000 shares of the firm’s stock in a transaction dated Friday, October 4th. The stock was 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 directly owns 422,813 shares in the company, valued at $14,950,667.68. This trade represents a 2.31 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, President Stephen Eric Rowland sold 18,114 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $37.19, for a total transaction of $673,659.66. Following the completion of the transaction, the president now directly owns 192,488 shares in the company, valued at approximately $7,158,628.72. The trade was a 8.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 127,650 shares of company stock worth $4,676,705 in the last three months. Company insiders own 53.24% of the company’s stock.

Hedge Funds Weigh In On Klaviyo

Several large investors have recently added to or reduced their stakes in KVYO. SG Americas Securities LLC bought a new position in Klaviyo in the 2nd quarter valued at about $236,000. Washington Capital Management Inc. bought a new position in shares of Klaviyo during the 2nd quarter worth approximately $428,000. Bank of New York Mellon Corp lifted its position in shares of Klaviyo by 677.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,762,128 shares of the company’s stock worth $68,749,000 after buying an additional 2,406,973 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Klaviyo by 1,447.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,852 shares of the company’s stock worth $668,000 after buying an additional 25,117 shares in the last quarter. Finally, Claro Advisors LLC lifted its position in shares of Klaviyo by 38.7% during the 2nd quarter. Claro Advisors LLC now owns 1,280,035 shares of the company’s stock worth $31,860,000 after buying an additional 357,355 shares in the last quarter. Institutional investors own 45.43% of the company’s stock.

Klaviyo Stock Performance

Shares of KVYO opened at $41.63 on Friday. Klaviyo has a 52 week low of $21.26 and a 52 week high of $41.75. The stock has a market capitalization of $11.22 billion, a price-to-earnings ratio of -231.28 and a beta of 0.97. The stock has a fifty day moving average of $37.54 and a 200-day moving average of $31.29.

Klaviyo (NYSE:KVYO) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.04. The business had revenue of $235.09 million during the quarter, compared to the consensus estimate of $226.33 million. Klaviyo had a positive return on equity of 0.86% and a negative net margin of 5.23%. Klaviyo’s quarterly revenue was up 33.7% on a year-over-year basis. During the same period in the prior year, the business posted ($1.24) earnings per share. As a group, equities analysts forecast that Klaviyo will post 0.03 EPS for the current year.

Klaviyo Company Profile

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.