Piper Sandler Trims Klaviyo (NYSE:KVYO) Target Price to $30.00

Klaviyo (NYSE:KVYO) had its price target lowered by research analysts at Piper Sandler from $38.00 to $30.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s price objective would suggest a potential upside of 25.73% from the stock’s current price.

A number of other analysts have also issued reports on the company. FBN Securities began coverage on Klaviyo in a research note on Wednesday, March 20th. They issued an “outperform” rating and a $35.00 price target on the stock. KeyCorp began coverage on Klaviyo in a research report on Thursday, March 21st. They set a “sector weight” rating on the stock. Robert W. Baird reduced their price objective on Klaviyo from $40.00 to $35.00 and set an “outperform” rating on the stock in a research report on Thursday, May 9th. Scotiabank began coverage on Klaviyo in a research report on Tuesday, April 2nd. They set a “sector perform” rating and a $30.00 price objective on the stock. Finally, Canaccord Genuity Group reduced their price objective on Klaviyo from $37.00 to $32.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, Klaviyo has a consensus rating of “Moderate Buy” and a consensus target price of $35.25.

Klaviyo Stock Up 3.3 %

Klaviyo stock opened at $23.86 on Friday. Klaviyo has a 52 week low of $21.26 and a 52 week high of $39.47. The business’s 50-day moving average price is $23.44 and its 200 day moving average price is $25.12.

Klaviyo (NYSE:KVYO) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.10 by $0.03. The business had revenue of $210.00 million during the quarter, compared to analyst estimates of $202.08 million. Klaviyo’s quarterly revenue was up 34.5% compared to the same quarter last year. Sell-side analysts forecast that Klaviyo will post -0.11 EPS for the current fiscal year.

Insider Activity

In other news, Director Jennifer Ceran sold 13,000 shares of Klaviyo stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $24.65, for a total value of $320,450.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 53.24% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP acquired a new position in Klaviyo during the 3rd quarter worth $5,047,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Klaviyo during the 4th quarter worth about $1,780,000. Hudson Bay Capital Management LP acquired a new position in shares of Klaviyo during the 3rd quarter worth about $690,000. Jump Financial LLC acquired a new position in shares of Klaviyo during the 4th quarter worth about $1,708,000. Finally, Pursue Wealth Partners LLC acquired a new position in shares of Klaviyo during the 4th quarter worth about $1,753,000. 45.43% of the stock is owned by institutional investors and hedge funds.

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.