Klaviyo (NYSE:KVYO) Price Target Raised to $47.00

Klaviyo (NYSE:KVYO) had its target price upped by Cantor Fitzgerald from $33.00 to $47.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Cantor Fitzgerald’s price target would indicate a potential upside of 45.20% from the company’s current price.

KVYO has been the topic of several other research reports. Macquarie began coverage on shares of Klaviyo in a report on Thursday, October 31st. They set a “neutral” rating and a $36.00 price objective on the stock. Wells Fargo & Company restated a “buy” rating on shares of Klaviyo in a research note on Friday, October 18th. Stifel Nicolaus started coverage on shares of Klaviyo in a research note on Tuesday, October 22nd. They set a “buy” rating and a $45.00 price objective for the company. Barclays lifted their price target on shares of Klaviyo from $32.00 to $41.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Finally, Benchmark cut their target price on shares of Klaviyo from $42.00 to $40.00 and set a “buy” rating for the company in a research note on Thursday. Three research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $38.00.

Klaviyo Price Performance

NYSE KVYO traded down $7.99 on Thursday, hitting $32.37. The stock had a trading volume of 1,311,690 shares, compared to its average volume of 1,132,402. The business’s fifty day moving average price is $35.12 and its 200 day moving average price is $28.55. The stock has a market cap of $8.63 billion, a price-to-earnings ratio of -22.80 and a beta of 1.13. Klaviyo has a 52-week low of $21.26 and a 52-week high of $41.00.

Klaviyo (NYSE:KVYO) last announced its earnings results on Wednesday, August 7th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.05. Klaviyo had a negative return on equity of 32.19% and a negative net margin of 42.15%. The firm had revenue of $222.21 million for the quarter, compared to the consensus estimate of $212.34 million. During the same period in the previous year, the business earned $0.09 EPS. The firm’s revenue for the quarter was up 35.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Klaviyo will post -0.01 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Amanda Whalen sold 60,000 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $30.23, for a total value of $1,813,800.00. Following the completion of the sale, the chief financial officer now owns 435,993 shares of the company’s stock, valued at approximately $13,180,068.39. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, major shareholder Summit Partners L. P sold 242,601 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $31.78, for a total transaction of $7,709,859.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Amanda Whalen sold 60,000 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $30.23, for a total transaction of $1,813,800.00. Following the completion of the sale, the chief financial officer now owns 435,993 shares in the company, valued at approximately $13,180,068.39. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 871,477 shares of company stock valued at $27,610,861 in the last three months. 53.24% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Klaviyo

A number of institutional investors and hedge funds have recently made changes to their positions in KVYO. nVerses Capital LLC purchased a new stake in shares of Klaviyo in the 3rd quarter valued at $53,000. EntryPoint Capital LLC acquired a new position in Klaviyo in the 1st quarter valued at about $71,000. Dark Forest Capital Management LP grew its position in Klaviyo by 13.7% in the 2nd quarter. Dark Forest Capital Management LP now owns 23,689 shares of the company’s stock valued at $590,000 after acquiring an additional 2,851 shares in the last quarter. Victory Capital Management Inc. purchased a new stake in Klaviyo during the third quarter worth about $208,000. Finally, Arizona State Retirement System lifted its position in shares of Klaviyo by 67.1% during the second quarter. Arizona State Retirement System now owns 16,221 shares of the company’s stock worth $404,000 after purchasing an additional 6,512 shares in the last quarter. 45.43% of the stock is owned by hedge funds and other 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.