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

Klaviyo, Inc. (NYSE:KVYO) shares hit a new 52-week high during mid-day trading on Friday after Piper Sandler raised their price target on the stock from $34.00 to $45.00. Piper Sandler currently has an overweight rating on the stock. Klaviyo traded as high as $38.40 and last traded at $38.40, with a volume of 51406 shares changing hands. The stock had previously closed at $37.36.

Several other brokerages have also commented on KVYO. Cantor Fitzgerald upped their price objective on shares of Klaviyo from $31.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Wells Fargo & Company initiated coverage on Klaviyo in a research note on Wednesday. They set an “equal weight” rating and a $37.00 price target on the stock. Benchmark assumed coverage on Klaviyo in a research note on Monday, September 30th. They issued a “buy” rating and a $42.00 price objective for the company. Needham & Company LLC reiterated a “buy” rating and issued a $40.00 price objective on shares of Klaviyo in a report on Wednesday, September 4th. Finally, Barclays raised their target price on Klaviyo from $32.00 to $41.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $36.87.

Insider Activity

In related news, President Stephen Eric Rowland sold 18,114 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $31.67, for a total transaction of $573,670.38. Following the completion of the sale, the president now owns 192,488 shares in the company, valued at $6,096,094.96. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Amanda Whalen sold 10,000 shares of the business’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 of the company’s stock, valued at approximately $14,950,667.68. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Stephen Eric Rowland sold 18,114 shares of the firm’s stock in a transaction that occurred 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 transaction, the president now owns 192,488 shares in the company, valued at $6,096,094.96. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 871,477 shares of company stock worth $27,610,861. 53.24% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Klaviyo

Large investors have recently modified their holdings of the company. nVerses Capital LLC acquired a new stake in Klaviyo during the 3rd quarter worth $53,000. Salem Investment Counselors Inc. boosted its stake in shares of Klaviyo by 161.1% during the first quarter. Salem Investment Counselors Inc. now owns 2,350 shares of the company’s stock worth $60,000 after buying an additional 1,450 shares during the period. EntryPoint Capital LLC purchased a new position in shares of Klaviyo during the first quarter worth about $71,000. SG Americas Securities LLC acquired a new position in Klaviyo in the 2nd quarter valued at about $236,000. Finally, William Marsh Rice University purchased a new stake in Klaviyo during the 3rd quarter valued at approximately $245,000. 45.43% of the stock is owned by institutional investors and hedge funds.

Klaviyo Stock Performance

The business has a 50-day simple moving average of $33.27 and a two-hundred day simple moving average of $27.16. The company has a market capitalization of $9.92 billion and a price-to-earnings ratio of -26.60.

Klaviyo (NYSE:KVYO) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.05. Klaviyo had a negative return on equity of 32.19% and a negative net margin of 42.15%. The firm had revenue of $222.21 million during the quarter, compared to the consensus estimate of $212.34 million. During the same period last year, the company earned $0.09 earnings per share. The company’s revenue for the quarter was up 35.0% on a year-over-year basis. Research analysts predict that Klaviyo, Inc. will post -0.01 EPS for the current fiscal 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.