Klaviyo (NYSE:KVYO) Lifted to “Overweight” at Barclays

Barclays upgraded shares of Klaviyo (NYSE:KVYO) from an equal weight rating to an overweight rating in a research note issued to investors on Wednesday morning, Marketbeat.com reports. The brokerage currently has $29.00 target price on the stock, up from their previous target price of $25.00.

A number of other research analysts have also commented on the company. Morgan Stanley cut their price target on Klaviyo from $37.00 to $32.00 and set an equal weight rating for the company in a report on Wednesday, April 17th. Cantor Fitzgerald reiterated an overweight rating and set a $31.00 price target on shares of Klaviyo in a report on Thursday, May 9th. William Blair restated an outperform rating on shares of Klaviyo in a research note on Wednesday, February 28th. FBN Securities began coverage on Klaviyo in a research note on Wednesday, March 20th. They issued an outperform rating and a $35.00 target price for the company. Finally, Needham & Company LLC restated a buy rating and issued a $40.00 target price on shares of Klaviyo in a research note on Friday, May 17th. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $35.75.

Klaviyo Stock Up 2.1 %

Shares of Klaviyo stock opened at $23.22 on Wednesday. The stock has a 50 day moving average price of $23.31 and a two-hundred day moving average price of $25.92. Klaviyo has a 12-month low of $21.51 and a 12-month high of $39.47.

Klaviyo (NYSE:KVYO) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.03. The business had revenue of $210.00 million for the quarter, compared to analyst estimates of $202.08 million. The company’s revenue was up 34.5% compared to the same quarter last year. On average, analysts predict that Klaviyo will post -0.11 EPS for the current fiscal year.

Insider Transactions at Klaviyo

In related news, insider Landon Edmond sold 3,545 shares of the firm’s stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $24.15, for a total value of $85,611.75. Following the transaction, the insider now owns 167,127 shares in the company, valued at $4,036,117.05. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Jennifer Ceran sold 13,000 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $24.65, for a total value of $320,450.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Landon Edmond sold 3,545 shares of the stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $24.15, for a total value of $85,611.75. Following the completion of the transaction, the insider now directly owns 167,127 shares in the company, valued at approximately $4,036,117.05. The disclosure for this sale can be found here. Company insiders own 53.24% of the company’s stock.

Hedge Funds Weigh In On Klaviyo

Several hedge funds have recently added to or reduced their stakes in KVYO. Salem Investment Counselors Inc. acquired a new position in Klaviyo in the fourth quarter valued at about $25,000. New York State Common Retirement Fund acquired a new position in Klaviyo in the third quarter valued at about $65,000. EntryPoint Capital LLC acquired a new position in Klaviyo in the first quarter valued at about $71,000. Moody National Bank Trust Division acquired a new position in Klaviyo in the fourth quarter valued at about $231,000. Finally, SVB Wealth LLC acquired a new position in Klaviyo in the first quarter valued at about $299,000. Institutional investors and hedge funds own 45.43% of the company’s stock.

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.