Klaviyo (NYSE:KVYO) Given New $50.00 Price Target at Canaccord Genuity Group

Klaviyo (NYSE:KVYO) had its price objective hoisted by Canaccord Genuity Group from $40.00 to $50.00 in a report released on Thursday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Other equities research analysts have also issued research reports about the stock. Robert W. Baird increased their price objective on shares of Klaviyo from $52.00 to $54.00 and gave the stock an “outperform” rating in a research report on Thursday. Macquarie reiterated a “neutral” rating and issued a $36.00 price target on shares of Klaviyo in a report on Friday, November 8th. Piper Sandler raised their price objective on Klaviyo from $50.00 to $53.00 and gave the company an “overweight” rating in a research report on Thursday. Wells Fargo & Company decreased their target price on Klaviyo from $48.00 to $45.00 and set an “equal weight” rating for the company in a research report on Thursday. Finally, KeyCorp increased their target price on Klaviyo from $42.00 to $45.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $49.44.

Klaviyo Trading Down 5.6 %

Shares of Klaviyo stock opened at $41.79 on Thursday. The business’s fifty day moving average price is $43.72 and its 200 day moving average price is $38.04. Klaviyo has a twelve month low of $21.26 and a twelve month high of $49.55. The stock has a market capitalization of $11.27 billion, a P/E ratio of -232.14 and a beta of 0.60.

Klaviyo (NYSE:KVYO) last released its quarterly earnings data 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 during the quarter, compared to analyst estimates of $257.24 million. Klaviyo had a negative net margin of 4.92% and a positive return on equity of 0.89%. As a group, sell-side analysts predict that Klaviyo will post 0.04 EPS for the current year.

Insider Transactions at Klaviyo

In related news, CFO Amanda Whalen sold 23,950 shares of the firm’s stock in a transaction 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 in the company, valued at $15,840,464.64. This trade represents a 5.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Landon Edmond sold 40,000 shares of Klaviyo stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $41.80, for a total transaction of $1,672,000.00. Following the completion of the transaction, the insider now directly owns 298,607 shares of the company’s stock, valued at approximately $12,481,772.60. This represents a 11.81 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 114,536 shares of company stock valued at $4,720,953. Insiders own 53.24% of the company’s stock.

Institutional Investors Weigh In On Klaviyo

Institutional investors have recently modified their holdings of the business. Advisors Asset Management Inc. boosted its stake in Klaviyo by 145.6% in the third 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. CIBC Private Wealth Group LLC lifted its holdings in shares of Klaviyo by 169.5% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,752 shares of the company’s stock worth $72,000 after purchasing an additional 1,102 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in Klaviyo by 77.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,874 shares of the company’s stock valued at $77,000 after purchasing an additional 818 shares during the period. SBI Securities Co. Ltd. bought a new position in Klaviyo during the 4th quarter worth $196,000. Finally, US Bancorp DE acquired a new stake in Klaviyo in the fourth quarter worth $199,000. 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.