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

Klaviyo (NYSE:KVYO) had its price target increased by equities research analysts at Barclays from $47.00 to $51.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price objective would suggest a potential upside of 18.19% from the stock’s previous close.

Several other brokerages also recently commented on KVYO. Citigroup raised their target price on Klaviyo from $39.00 to $48.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 11th. Macquarie restated a “neutral” rating and issued a $36.00 target price on shares of Klaviyo in a research note on Friday, November 8th. Robert W. Baird raised their target price on Klaviyo from $52.00 to $54.00 and gave the stock an “outperform” rating in a research note on Thursday. Canaccord Genuity Group raised their target price on Klaviyo from $40.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Mizuho lifted their price target on Klaviyo from $42.00 to $52.00 and gave the company an “outperform” rating in a research report on Thursday. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.44.

Klaviyo Trading Down 8.2 %

Shares of KVYO stock traded down $3.85 on Thursday, hitting $43.15. 3,294,301 shares of the stock were exchanged, compared to its average volume of 1,198,081. The firm has a market capitalization of $11.63 billion, a PE ratio of -238.78 and a beta of 0.60. Klaviyo has a one year low of $21.26 and a one year high of $49.55. The firm’s 50 day moving average is $43.56 and its two-hundred day moving average is $37.75.

Klaviyo (NYSE:KVYO) last posted its quarterly earnings results on Wednesday, February 19th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.12). The firm had revenue of $270.16 million for the quarter, compared to the consensus estimate of $257.24 million. Klaviyo had a positive return on equity of 0.86% and a negative net margin of 5.23%. On average, sell-side analysts expect that Klaviyo will post 0.03 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Amanda Whalen sold 23,950 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $40.04, for a total transaction of $958,958.00. Following the transaction, the chief financial officer now directly owns 395,616 shares of the company’s stock, valued at approximately $15,840,464.64. The trade was a 5.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Landon Edmond sold 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $41.80, for a total value of $1,672,000.00. Following the transaction, the insider now directly owns 298,607 shares in the company, valued at $12,481,772.60. This trade represents a 11.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 114,536 shares of company stock valued at $4,720,953 in the last ninety days. Company insiders own 53.24% of the company’s stock.

Institutional Investors Weigh In On Klaviyo

Several hedge funds have recently made changes to their positions in KVYO. Whale Rock Capital Management LLC boosted its position in shares of Klaviyo by 608.9% during the third quarter. Whale Rock Capital Management LLC now owns 3,600,606 shares of the company’s stock valued at $127,389,000 after purchasing an additional 3,092,725 shares in the last quarter. Focus Partners Wealth bought a new stake in shares of Klaviyo during the fourth quarter valued at approximately $38,870,000. D. E. Shaw & Co. Inc. boosted its position in shares of Klaviyo by 195.4% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,310,227 shares of the company’s stock valued at $54,034,000 after purchasing an additional 866,749 shares in the last quarter. Lord Abbett & CO. LLC bought a new stake in shares of Klaviyo during the fourth quarter valued at approximately $30,851,000. Finally, Ameriprise Financial Inc. boosted its position in shares of Klaviyo by 229.5% during the fourth quarter. Ameriprise Financial Inc. now owns 982,134 shares of the company’s stock valued at $40,507,000 after purchasing an additional 684,026 shares in the last quarter. 45.43% of the stock is currently owned by institutional investors.

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.