Brokerages Set Klaviyo, Inc. (NYSE:KVYO) Target Price at $43.18

Shares of Klaviyo, Inc. (NYSE:KVYO) have been given an average recommendation of “Moderate Buy” by the seventeen ratings firms that are covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $43.63.

Several brokerages have recently issued reports on KVYO. Canaccord Genuity Group raised their price target on Klaviyo from $32.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Piper Sandler upped their price target on Klaviyo from $45.00 to $50.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Wells Fargo & Company increased their price target on shares of Klaviyo from $37.00 to $41.00 and gave the company an “equal weight” rating in a report on Tuesday, January 7th. Scotiabank upped their price objective on shares of Klaviyo from $35.00 to $45.00 and gave the company a “sector perform” rating in a research report on Wednesday, January 29th. Finally, Needham & Company LLC boosted their price target on Klaviyo from $40.00 to $46.00 and gave the company a “buy” rating in a research note on Thursday, November 7th.

Klaviyo Stock Performance

KVYO stock opened at $47.69 on Friday. The stock has a market cap of $12.86 billion, a P/E ratio of -264.94 and a beta of 0.60. The firm has a 50 day simple moving average of $41.76 and a 200 day simple moving average of $36.22. Klaviyo has a 52 week low of $21.26 and a 52 week high of $48.73.

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

Insider Buying and Selling

In other news, President Stephen Eric Rowland sold 4,536 shares of the stock in a transaction that occurred 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 transaction, the president now owns 186,785 shares in the company, valued at approximately $6,455,289.60. This trade represents a 2.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Landon Edmond sold 40,000 shares of Klaviyo stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $34.56, for a total value of $1,382,400.00. Following the sale, the insider now directly owns 236,621 shares of the company’s stock, 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. Over the last three months, insiders have sold 174,072 shares of company stock worth $6,778,517. Insiders own 53.24% of the company’s stock.

Hedge Funds Weigh In On Klaviyo

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Creative Planning acquired a new stake in Klaviyo in the third quarter valued at about $254,000. Cabot Wealth Management Inc. lifted its stake in shares of Klaviyo by 101.1% in the 3rd quarter. Cabot Wealth Management Inc. now owns 90,425 shares of the company’s stock valued at $3,199,000 after acquiring an additional 45,451 shares during the last quarter. Renaissance Capital LLC boosted its holdings in shares of Klaviyo by 134.6% during the 3rd quarter. Renaissance Capital LLC now owns 78,401 shares of the company’s stock valued at $2,774,000 after acquiring an additional 44,977 shares in the last quarter. William Marsh Rice University acquired a new position in Klaviyo in the 3rd quarter worth about $245,000. Finally, nVerses Capital LLC acquired a new stake in shares of Klaviyo during the third quarter valued at about $53,000. 45.43% of the stock is 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.