Piper Sandler Issues Positive Forecast for Klaviyo (NYSE:KVYO) Stock Price

Klaviyo (NYSE:KVYO) had its price objective lifted by Piper Sandler from $45.00 to $50.00 in a research report released on Monday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

KVYO has been the subject of a number of other reports. Cantor Fitzgerald upped their price target on shares of Klaviyo from $33.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Needham & Company LLC increased their target price on Klaviyo from $40.00 to $46.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Stifel Nicolaus initiated coverage on Klaviyo in a research report on Tuesday, October 22nd. They set a “buy” rating and a $45.00 price target on the stock. Loop Capital increased their price objective on shares of Klaviyo from $45.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, December 23rd. Finally, Barclays lifted their price objective on shares of Klaviyo from $32.00 to $41.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Three investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $41.18.

Klaviyo Stock Performance

KVYO stock opened at $42.64 on Monday. The company has a 50 day moving average price of $39.09 and a two-hundred day moving average price of $33.41. Klaviyo has a one year low of $21.26 and a one year high of $44.77. The stock has a market capitalization of $11.50 billion, a P/E ratio of -236.88 and a beta of 0.57.

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

Insider Activity at Klaviyo

In other Klaviyo news, CFO Amanda Whalen sold 1,050 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $40.07, for a total transaction of $42,073.50. Following the completion of the sale, the chief financial officer now owns 395,616 shares in the company, valued at $15,852,333.12. The trade was a 0.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Landon Edmond sold 40,000 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was 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 owns 236,621 shares in the company, valued at approximately $8,177,621.76. The trade was a 14.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 117,650 shares of company stock valued at $4,323,105 over the last three months. 53.24% of the stock is owned by insiders.

Institutional Trading of Klaviyo

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Advisors Asset Management Inc. boosted 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 purchasing an additional 808 shares during the period. nVerses Capital LLC acquired a new stake in Klaviyo in the 3rd quarter valued at approximately $53,000. West Tower Group LLC bought a new stake in Klaviyo during the 3rd quarter valued at $177,000. Victory Capital Management Inc. bought a new position in shares of Klaviyo in the third quarter worth $208,000. Finally, William Marsh Rice University bought a new stake in shares of Klaviyo during the third quarter valued at about $245,000. 45.43% of the stock is currently owned by institutional investors and hedge funds.

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.