Klaviyo (NYSE:KVYO) Given New $50.00 Price Target at Canaccord Genuity Group

Klaviyo (NYSE:KVYO) had its price target boosted by Canaccord Genuity Group from $40.00 to $50.00 in a research note released on Thursday,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

KVYO has been the topic of several other research reports. Cantor Fitzgerald lifted their target price on shares of Klaviyo from $47.00 to $54.00 and gave the company an “overweight” rating in a research report on Thursday. Piper Sandler lifted their target price on shares of Klaviyo from $50.00 to $53.00 and gave the company an “overweight” rating in a research report on Thursday. Loop Capital lifted their target price 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. Needham & Company LLC lifted their target price on shares of Klaviyo from $46.00 to $56.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Morgan Stanley lifted their target price on shares of Klaviyo from $47.00 to $50.00 and gave the company an “equal weight” rating in a research report on Thursday. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $49.44.

Klaviyo Stock Performance

KVYO stock opened at $44.23 on Thursday. The firm’s fifty day moving average is $43.66 and its 200 day moving average is $37.80. Klaviyo has a one year low of $21.26 and a one year high of $49.55.

Klaviyo (NYSE:KVYO) last released its quarterly earnings results on Wednesday, February 19th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.12). The firm had revenue of $270.16 million for the quarter, compared to analyst estimates of $257.24 million. Klaviyo had a negative net margin of 4.92% and a positive return on equity of 0.90%. As a group, research analysts expect that Klaviyo will post 0.04 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Landon Edmond sold 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $41.80, for a total value of $1,672,000.00. Following the sale, the insider now directly owns 298,607 shares of the company’s stock, valued at approximately $12,481,772.60. The trade was a 11.81 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Amanda Whalen sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $39.18, for a total transaction of $587,700.00. Following the completion of the sale, the chief financial officer now directly owns 391,820 shares in the company, valued at $15,351,507.60. This trade represents a 3.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 114,536 shares of company stock valued at $4,720,953 over the last ninety days. Company insiders own 53.24% of the company’s stock.

Institutional Investors Weigh In On Klaviyo

Institutional investors and hedge funds have recently made changes to their positions in the stock. Advisors Asset Management Inc. raised its stake in shares of Klaviyo by 145.6% in 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 during the period. CIBC Private Wealth Group LLC grew its holdings in shares of Klaviyo by 169.5% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,752 shares of the company’s stock valued at $72,000 after purchasing an additional 1,102 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Klaviyo by 77.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,874 shares of the company’s stock valued at $77,000 after purchasing an additional 818 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Klaviyo in the fourth quarter valued at approximately $196,000. Finally, US Bancorp DE acquired a new position in shares of Klaviyo in the fourth quarter valued at approximately $199,000. 45.43% of the stock is owned by hedge funds and other institutional investors.

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.