Klaviyo (NYSE:KVYO) Reaches New 12-Month High After Analyst Upgrade

Klaviyo, Inc. (NYSE:KVYO) hit a new 52-week high during mid-day trading on Monday after KeyCorp raised their price target on the stock from $42.00 to $45.00. KeyCorp currently has an overweight rating on the stock. Klaviyo traded as high as $41.48 and last traded at $41.45, with a volume of 1260827 shares changing hands. The stock had previously closed at $39.06.

A number of other research firms have also issued reports on KVYO. Canaccord Genuity Group increased their target price on Klaviyo from $32.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Stifel Nicolaus initiated coverage on shares of Klaviyo in a research report on Tuesday, October 22nd. They issued a “buy” rating and a $45.00 price objective for the company. Macquarie reissued a “neutral” rating and set a $36.00 target price on shares of Klaviyo in a research report on Friday, November 8th. Benchmark lowered their price target on shares of Klaviyo from $42.00 to $40.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Finally, Robert W. Baird lifted their price target on shares of Klaviyo from $42.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.69.

Insider Transactions at Klaviyo

In other Klaviyo news, insider Landon Edmond sold 40,000 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $34.56, for a total transaction of $1,382,400.00. Following the completion of the transaction, the insider now directly owns 236,621 shares of the company’s stock, valued at $8,177,621.76. The trade was a 14.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Amanda Whalen sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $35.36, for a total transaction of $353,600.00. Following the completion of the sale, the chief financial officer now owns 422,813 shares in the company, valued at $14,950,667.68. The trade was a 2.31 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 127,650 shares of company stock worth $4,676,705. 53.24% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Klaviyo

Several hedge funds and other institutional investors have recently made changes to their positions in KVYO. Advisors Asset Management Inc. raised its stake in Klaviyo by 145.6% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company’s stock valued at $48,000 after acquiring an additional 808 shares in the last quarter. nVerses Capital LLC acquired a new stake in Klaviyo in the third quarter worth about $53,000. West Tower Group LLC bought a new position in Klaviyo in the 3rd quarter valued at about $177,000. Victory Capital Management Inc. acquired a new stake in shares of Klaviyo in the 3rd quarter worth approximately $208,000. Finally, SG Americas Securities LLC bought a new position in shares of Klaviyo in the second quarter valued at approximately $236,000. 45.43% of the stock is currently owned by institutional investors and hedge funds.

Klaviyo Stock Up 6.6 %

The firm has a market cap of $11.22 billion, a price-to-earnings ratio of -231.28 and a beta of 0.97. The stock’s 50 day moving average is $37.54 and its 200 day moving average is $31.29.

Klaviyo (NYSE:KVYO) last announced its earnings results on Wednesday, November 6th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.04. Klaviyo had a positive return on equity of 0.86% and a negative net margin of 5.23%. The business had revenue of $235.09 million during the quarter, compared to analysts’ expectations of $226.33 million. During the same quarter last year, the business posted ($1.24) earnings per share. The company’s quarterly revenue was up 33.7% on a year-over-year basis. Analysts anticipate that Klaviyo, Inc. will post 0.03 earnings per share 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.