Klaviyo (NYSE:KVYO) Now Covered by Benchmark

Research analysts at Benchmark started coverage on shares of Klaviyo (NYSE:KVYO) in a research report issued to clients and investors on Monday, Briefing.com reports. The firm set a “buy” rating and a $42.00 price target on the stock. Benchmark’s price objective would indicate a potential upside of 19.32% from the company’s current price.

A number of other analysts also recently commented on the company. Barclays upped their target price on Klaviyo from $29.00 to $32.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Piper Sandler upped their target price on Klaviyo from $30.00 to $34.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Cantor Fitzgerald boosted their price objective on Klaviyo from $31.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $40.00 target price on shares of Klaviyo in a research note on Wednesday, September 4th. Finally, KeyCorp raised Klaviyo from a “sector weight” rating to an “overweight” rating and set a $33.00 target price for the company in a research note on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $36.00.

Klaviyo Price Performance

Shares of KVYO stock opened at $35.20 on Monday. The stock’s 50-day simple moving average is $30.17 and its 200-day simple moving average is $26.07. Klaviyo has a fifty-two week low of $21.26 and a fifty-two week high of $37.36.

Klaviyo (NYSE:KVYO) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.05. The business had revenue of $222.21 million for the quarter, compared to analyst estimates of $212.34 million. Klaviyo had a negative return on equity of 32.19% and a negative net margin of 42.15%. The company’s revenue was up 35.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.09 earnings per share. As a group, equities analysts predict that Klaviyo will post -0.01 earnings per share for the current fiscal year.

Insider Activity at Klaviyo

In related news, President Stephen Eric Rowland sold 18,114 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $31.67, for a total value of $573,670.38. Following the completion of the transaction, the president now directly owns 192,488 shares of the company’s stock, valued at approximately $6,096,094.96. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Klaviyo news, President Stephen Eric Rowland sold 18,114 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $31.67, for a total value of $573,670.38. Following the completion of the sale, the president now directly owns 192,488 shares of the company’s stock, valued at approximately $6,096,094.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Jeff Fagnan bought 9,485 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was bought at an average cost of $26.43 per share, with a total value of $250,688.55. Following the completion of the purchase, the insider now directly owns 9,485 shares in the company, valued at $250,688.55. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 843,363 shares of company stock valued at $26,583,602. 53.24% of the stock is owned by insiders.

Hedge Funds Weigh In On Klaviyo

A number of hedge funds have recently modified their holdings of KVYO. Norges Bank purchased a new position in shares of Klaviyo during the 4th quarter worth $21,258,000. Goldman Sachs Group Inc. grew its holdings in shares of Klaviyo by 243.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,472,140 shares of the company’s stock worth $40,896,000 after purchasing an additional 1,042,902 shares during the period. Moody National Bank Trust Division grew its holdings in shares of Klaviyo by 87.9% during the 1st quarter. Moody National Bank Trust Division now owns 15,639 shares of the company’s stock worth $398,000 after purchasing an additional 7,316 shares during the period. Salem Investment Counselors Inc. boosted its holdings in Klaviyo by 161.1% during the 1st quarter. Salem Investment Counselors Inc. now owns 2,350 shares of the company’s stock valued at $60,000 after acquiring an additional 1,450 shares during the period. Finally, Claro Advisors LLC purchased a new position in Klaviyo during the 1st quarter valued at about $23,510,000. 45.43% of the stock is currently 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.