Klaviyo (NYSE:KVYO) Price Target Raised to $41.00

Klaviyo (NYSE:KVYO) had its price target raised by Wells Fargo & Company from $37.00 to $41.00 in a report issued on Tuesday morning,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Several other equities research analysts have also recently issued reports on the stock. William Blair reaffirmed an “outperform” rating on shares of Klaviyo in a research note on Thursday, December 19th. Piper Sandler lifted their target price on shares of Klaviyo from $45.00 to $50.00 and gave the stock an “overweight” rating in a research note on Monday. Macquarie reiterated a “neutral” rating and issued a $36.00 price target on shares of Klaviyo in a report on Friday, November 8th. Needham & Company LLC raised their price objective on Klaviyo from $40.00 to $46.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, Stifel Nicolaus initiated coverage on Klaviyo in a research report on Tuesday, October 22nd. They set a “buy” rating and a $45.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $41.41.

Klaviyo Price Performance

Shares of Klaviyo stock opened at $40.98 on Tuesday. Klaviyo has a 1 year low of $21.26 and a 1 year high of $44.77. The business has a 50 day moving average price of $39.24 and a 200 day moving average price of $33.65. The company has a market capitalization of $11.05 billion, a P/E ratio of -227.65 and a beta of 0.57.

Klaviyo (NYSE:KVYO) last released 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 analysts’ expectations 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 revenue for the quarter was up 33.7% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.24) earnings per share. As a group, research analysts expect that Klaviyo will post 0.03 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Amanda Whalen sold 15,000 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $34.56, for a total value of $518,400.00. Following the completion of the sale, the chief financial officer now owns 395,616 shares of the company’s stock, valued at $13,672,488.96. This represents a 3.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Stephen Eric Rowland sold 4,536 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $34.56, for a total value of $156,764.16. Following the completion of the sale, the president now owns 186,785 shares of the company’s stock, valued at approximately $6,455,289.60. This trade represents a 2.37 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 117,650 shares of company stock valued at $4,323,105. Company insiders own 53.24% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Advisors Asset Management Inc. increased 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 worth $48,000 after buying an additional 808 shares during the period. nVerses Capital LLC acquired a new stake in shares of Klaviyo during the third quarter valued at about $53,000. West Tower Group LLC purchased a new stake in shares of Klaviyo during the third quarter worth about $177,000. Victory Capital Management Inc. acquired a new position in shares of Klaviyo in the third quarter worth about $208,000. Finally, William Marsh Rice University purchased a new position in Klaviyo in the third quarter valued at about $245,000. 45.43% of the stock is owned by institutional investors and hedge funds.

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.