Klaviyo (NYSE:KVYO) Hits New 52-Week High Following Analyst Upgrade

Klaviyo, Inc. (NYSE:KVYO) reached a new 52-week high during trading on Thursday after Barclays raised their price target on the stock from $32.00 to $41.00. Barclays currently has an overweight rating on the stock. Klaviyo traded as high as $36.63 and last traded at $36.61, with a volume of 208617 shares trading hands. The stock had previously closed at $35.55.

Several other research firms have also issued reports on KVYO. Cantor Fitzgerald lifted their price target on shares of Klaviyo from $31.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. KeyCorp raised Klaviyo from a “sector weight” rating to an “overweight” rating and set a $33.00 target price on the stock in a research report on Thursday, August 8th. Piper Sandler upped their price target on shares of Klaviyo from $30.00 to $34.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Benchmark assumed coverage on shares of Klaviyo in a research report on Monday, September 30th. They set a “buy” rating and a $42.00 price objective on the stock. Finally, Needham & Company LLC reissued a “buy” rating and set a $40.00 target price on shares of Klaviyo in a research note on Wednesday, September 4th. Three research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Klaviyo currently has an average rating of “Moderate Buy” and an average price target of $36.89.

Insider Buying and Selling

In related news, major shareholder Jeff Fagnan bought 9,485 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were acquired at an average price of $26.43 per share, with a total value of $250,688.55. Following the completion of the transaction, the insider now owns 9,485 shares of the company’s stock, valued at $250,688.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Klaviyo news, major shareholder Jeff Fagnan acquired 9,485 shares of Klaviyo stock in a transaction dated 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 acquisition, the insider now owns 9,485 shares of the company’s stock, valued at approximately $250,688.55. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Amanda Whalen sold 10,000 shares of Klaviyo stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $29.72, for a total value of $297,200.00. Following the sale, the chief financial officer now directly owns 422,813 shares in the company, valued at $12,566,002.36. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 853,363 shares of company stock worth $26,937,202 in the last quarter. 53.24% of the stock is currently owned by company insiders.

Institutional Trading of Klaviyo

Large investors have recently added to or reduced their stakes in the company. Salem Investment Counselors Inc. boosted its holdings in shares of Klaviyo by 161.1% in the 1st quarter. Salem Investment Counselors Inc. now owns 2,350 shares of the company’s stock worth $60,000 after acquiring an additional 1,450 shares in the last quarter. EntryPoint Capital LLC acquired a new position in Klaviyo in the first quarter worth $71,000. SG Americas Securities LLC bought a new stake in shares of Klaviyo during the second quarter worth $236,000. Creative Planning acquired a new stake in shares of Klaviyo in the third quarter valued at $254,000. Finally, SVB Wealth LLC bought a new position in shares of Klaviyo in the first quarter valued at about $299,000. 45.43% of the stock is owned by institutional investors.

Klaviyo Stock Performance

The firm has a market cap of $9.87 billion and a price-to-earnings ratio of -26.24. The company’s 50-day moving average is $31.89 and its 200-day moving average is $26.69.

Klaviyo (NYSE:KVYO) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.05. The firm 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 business’s quarterly revenue was up 35.0% compared to the same quarter last year. During the same period last year, the company earned $0.09 EPS. On average, analysts predict that Klaviyo, Inc. will post -0.01 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.