Klaviyo (NYSE:KVYO) Price Target Raised to $51.00

Klaviyo (NYSE:KVYO) had its price objective increased by Benchmark from $40.00 to $51.00 in a report published on Wednesday morning,Benzinga reports. Benchmark currently has a buy rating on the stock.

A number of other research analysts have also recently weighed in on the stock. Stifel Nicolaus initiated coverage on shares of Klaviyo in a research note on Tuesday, October 22nd. They set a “buy” rating and a $45.00 target price on the stock. Wells Fargo & Company lifted their target price on shares of Klaviyo from $41.00 to $48.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 12th. Needham & Company LLC lifted their target price on shares of Klaviyo from $40.00 to $46.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Macquarie restated a “neutral” rating and set a $36.00 target price on shares of Klaviyo in a research note on Friday, November 8th. Finally, Cantor Fitzgerald lifted their target price on shares of Klaviyo from $33.00 to $47.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $49.44.

Klaviyo Price Performance

Shares of Klaviyo stock opened at $41.79 on Wednesday. The company’s fifty day simple moving average is $43.72 and its 200-day simple moving average is $37.92. The stock has a market capitalization of $11.27 billion, a PE ratio of -232.14 and a beta of 0.60. Klaviyo has a 1-year low of $21.26 and a 1-year high of $49.55.

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

Insider Activity at Klaviyo

In related news, President Stephen Eric Rowland sold 4,536 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $40.04, for a total transaction of $181,621.44. Following the transaction, the president now directly owns 260,403 shares in the company, valued at approximately $10,426,536.12. This represents a 1.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Amanda Whalen sold 23,950 shares of the company’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $40.04, for a total transaction of $958,958.00. Following the transaction, the chief financial officer now owns 395,616 shares in the company, valued at $15,840,464.64. The trade was a 5.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 114,536 shares of company stock worth $4,720,953. 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 the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Klaviyo by 76.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 105,178 shares of the company’s stock valued at $4,338,000 after buying an additional 45,523 shares during the period. Voloridge Investment Management LLC boosted its position in Klaviyo by 15.7% in the 4th quarter. Voloridge Investment Management LLC now owns 922,832 shares of the company’s stock valued at $38,058,000 after buying an additional 125,352 shares during the period. Washington Harbour Partners LP purchased a new stake in Klaviyo in the 4th quarter valued at about $1,794,000. Whale Rock Capital Management LLC boosted its position in Klaviyo by 7.4% in the 4th quarter. Whale Rock Capital Management LLC now owns 3,868,451 shares of the company’s stock valued at $159,535,000 after buying an additional 267,845 shares during the period. Finally, Squarepoint Ops LLC purchased a new stake in Klaviyo in the 4th quarter valued at about $2,099,000. 45.43% of the stock is currently owned by institutional investors.

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.