Klaviyo (NYSE:KVYO) Price Target Raised to $40.00

Klaviyo (NYSE:KVYO) had its target price raised by Canaccord Genuity Group from $32.00 to $40.00 in a report issued on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other research analysts also recently commented on the stock. Barclays lifted their target price on shares of Klaviyo from $32.00 to $41.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Needham & Company LLC restated a “buy” rating and issued a $40.00 price objective on shares of Klaviyo in a research report on Wednesday, September 4th. Macquarie assumed coverage on shares of Klaviyo in a research note on Thursday, October 31st. They set a “neutral” rating and a $36.00 price objective for the company. Robert W. Baird raised their target price on Klaviyo from $42.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Stifel Nicolaus started coverage on Klaviyo in a report on Tuesday, October 22nd. They set a “buy” rating and a $45.00 price target on the stock. Three research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $39.00.

Klaviyo Stock Down 1.3 %

KVYO opened at $33.35 on Thursday. The business’s fifty day simple moving average is $35.21 and its 200 day simple moving average is $28.66. Klaviyo has a 52 week low of $21.26 and a 52 week high of $41.00. The stock has a market cap of $8.89 billion, a PE ratio of -185.27 and a beta of 1.13.

Klaviyo (NYSE:KVYO) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.04. The business had revenue of $235.09 million for the quarter, compared to analysts’ expectations of $226.33 million. Klaviyo had a negative net margin of 5.23% and a positive return on equity of 0.87%. 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) earnings per share. As a group, equities analysts anticipate that Klaviyo will post -0.01 earnings per share for the current year.

Insider Activity

In other Klaviyo news, CTO Allen Chaves sold 130,000 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $31.59, for a total transaction of $4,106,700.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Klaviyo news, major shareholder Summit Partners L. P sold 242,601 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $31.78, for a total value of $7,709,859.78. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO Allen Chaves sold 130,000 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $31.59, for a total value of $4,106,700.00. The disclosure for this sale can be found here. Insiders have sold a total of 789,711 shares of company stock valued at $25,143,646 over the last ninety days. 53.24% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Advisors Asset Management Inc. grew its stake in shares of 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 acquiring an additional 808 shares during the period. nVerses Capital LLC purchased a new stake in shares of Klaviyo in the third quarter worth $53,000. EntryPoint Capital LLC bought a new stake in shares of Klaviyo during the 1st quarter valued at $71,000. Victory Capital Management Inc. purchased a new position in shares of Klaviyo during the 3rd quarter valued at $208,000. Finally, William Marsh Rice University bought a new position in Klaviyo in the 3rd quarter worth $245,000. Hedge funds and other institutional investors 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.