Loop Capital Raises Klaviyo (NYSE:KVYO) Price Target to $60.00

Klaviyo (NYSE:KVYO) had its price objective hoisted by equities researchers at Loop Capital from $45.00 to $60.00 in a research report issued to clients and investors on Monday, MarketBeat Ratings reports. The brokerage presently has a “buy” rating on the stock. Loop Capital’s target price points to a potential upside of 37.84% from the stock’s current price.

Several other equities research analysts have also issued reports on the company. Barclays lifted their price target on Klaviyo from $32.00 to $41.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Benchmark dropped their target price on Klaviyo from $42.00 to $40.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. William Blair reiterated an “outperform” rating on shares of Klaviyo in a research report on Thursday, December 19th. Wells Fargo & Company reissued a “buy” rating on shares of Klaviyo in a research note on Friday, October 18th. Finally, Robert W. Baird increased their target price on shares of Klaviyo from $42.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $40.88.

Klaviyo Trading Up 1.6 %

KVYO stock opened at $43.53 on Monday. The company’s 50 day moving average is $38.21 and its 200 day moving average is $32.02. The stock has a market cap of $11.74 billion, a price-to-earnings ratio of -241.82 and a beta of 0.97. Klaviyo has a 1-year low of $21.26 and a 1-year high of $44.77.

Klaviyo (NYSE:KVYO) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.04. Klaviyo had a negative net margin of 5.23% and a positive return on equity of 0.86%. The firm had revenue of $235.09 million for the quarter, compared to analyst estimates of $226.33 million. During the same quarter in the prior year, the firm earned ($1.24) EPS. The business’s revenue for the quarter was up 33.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Klaviyo will post 0.03 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Amanda Whalen sold 10,000 shares of the 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 transaction, the chief financial officer now directly owns 422,813 shares of the company’s stock, valued at $14,950,667.68. This represents a 2.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, President Stephen Eric Rowland sold 18,114 shares of Klaviyo stock in a transaction that occurred on Tuesday, October 15th. The shares were 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 8.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 127,650 shares of company stock valued at $4,676,705 over the last quarter. 53.24% of the stock is owned by company insiders.

Institutional Trading of Klaviyo

A number of hedge funds and other institutional investors have recently modified their holdings of KVYO. Whale Rock Capital Management LLC boosted its stake in Klaviyo by 608.9% during the third quarter. Whale Rock Capital Management LLC now owns 3,600,606 shares of the company’s stock worth $127,389,000 after acquiring an additional 3,092,725 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Klaviyo by 677.7% in 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 purchasing an additional 2,406,973 shares in the last quarter. SpiderRock Advisors LLC increased its position in Klaviyo by 1,571.7% during the 3rd quarter. SpiderRock Advisors LLC now owns 501,500 shares of the company’s stock valued at $17,743,000 after buying an additional 471,500 shares in the last quarter. Mayflower Financial Advisors LLC increased its position in Klaviyo by 181.4% during the 3rd quarter. Mayflower Financial Advisors LLC now owns 684,948 shares of the company’s stock valued at $24,233,000 after buying an additional 441,500 shares in the last quarter. Finally, Millennium Management LLC raised its stake in Klaviyo by 53.6% during the second quarter. Millennium Management LLC now owns 1,120,485 shares of the company’s stock valued at $27,889,000 after buying an additional 390,849 shares during the last quarter. 45.43% of the stock is owned by hedge funds and other institutional investors.

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.