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

Klaviyo, Inc. (NYSE:KVYO) shares reached a new 52-week high during mid-day trading on Monday after Loop Capital raised their price target on the stock from $45.00 to $60.00. Loop Capital currently has a buy rating on the stock. Klaviyo traded as high as $46.00 and last traded at $46.00, with a volume of 2739 shares. The stock had previously closed at $44.08.

Several other research analysts also recently commented on KVYO. Canaccord Genuity Group raised their price objective on Klaviyo from $32.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Piper Sandler boosted their price target on shares of Klaviyo from $34.00 to $45.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Robert W. Baird lifted their price objective on Klaviyo from $42.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Stifel Nicolaus initiated coverage on shares of Klaviyo in a report on Tuesday, October 22nd. They issued a “buy” rating and a $45.00 price target for the company. Finally, Benchmark dropped their price target on shares of Klaviyo from $42.00 to $40.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Klaviyo presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.88.

Insider Activity at Klaviyo

In related news, President Stephen Eric Rowland sold 4,536 shares of Klaviyo stock in a transaction on Monday, November 18th. The stock was sold at an average price of $34.56, for a total transaction of $156,764.16. Following the completion of the transaction, the president now directly owns 186,785 shares of the company’s stock, valued at approximately $6,455,289.60. The trade was a 2.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Amanda Whalen sold 10,000 shares of Klaviyo stock in a transaction on Friday, October 4th. The stock was sold at an average price of $35.36, for a total value of $353,600.00. Following the transaction, the chief financial officer now directly owns 422,813 shares of the company’s stock, valued at $14,950,667.68. This trade represents a 2.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 127,650 shares of company stock valued at $4,676,705 over the last ninety days. Insiders own 53.24% of the company’s stock.

Institutional Trading of Klaviyo

Large investors have recently made changes to their positions in the stock. Lisanti Capital Growth LLC acquired a new position in Klaviyo in the third quarter valued at $5,513,000. Pier 88 Investment Partners LLC purchased a new stake in Klaviyo during the third quarter worth approximately $966,000. SpiderRock Advisors LLC increased its holdings in Klaviyo by 1,571.7% in the 3rd quarter. SpiderRock Advisors LLC now owns 501,500 shares of the company’s stock valued at $17,743,000 after purchasing an additional 471,500 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new stake in shares of Klaviyo during the 3rd quarter valued at about $5,113,000. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Klaviyo during the second quarter worth $747,000. Institutional investors and hedge funds own 45.43% of the company’s stock.

Klaviyo Stock Performance

The firm has a market capitalization of $11.55 billion, a price-to-earnings ratio of -237.93 and a beta of 0.97. The stock’s fifty day moving average is $38.09 and its two-hundred day moving average is $31.88.

Klaviyo (NYSE:KVYO) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.15 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $226.33 million. During the same period in the prior year, the company posted ($1.24) EPS. The business’s revenue was up 33.7% compared to the same quarter last year. Sell-side analysts anticipate that Klaviyo, Inc. will post 0.03 earnings per share for the current year.

About Klaviyo

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.