Macquarie Begins Coverage on Klaviyo (NYSE:KVYO)

Macquarie initiated coverage on shares of Klaviyo (NYSE:KVYO) in a research note issued to investors on Thursday, MarketBeat Ratings reports. The firm issued a neutral rating and a $36.00 price objective on the stock.

A number of other equities analysts have also commented on the company. Barclays lifted their price objective on Klaviyo from $32.00 to $41.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Benchmark restated a “buy” rating and issued a $42.00 price target on shares of Klaviyo in a research report on Thursday, October 24th. Piper Sandler lifted their target price on shares of Klaviyo from $34.00 to $45.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Wells Fargo & Company reissued a “buy” rating on shares of Klaviyo in a research note on Friday, October 18th. Finally, Robert W. Baird increased their price target on Klaviyo from $35.00 to $42.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. Three investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $37.29.

Klaviyo Stock Performance

Shares of NYSE KVYO opened at $39.64 on Thursday. The stock has a market cap of $10.57 billion, a P/E ratio of -28.11 and a beta of 1.12. The firm has a 50 day moving average price of $34.66 and a two-hundred day moving average price of $28.20. Klaviyo has a 52-week low of $21.26 and a 52-week high of $39.93.

Klaviyo (NYSE:KVYO) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.05. The business had revenue of $222.21 million during the quarter, compared to the consensus estimate of $212.34 million. Klaviyo had a negative return on equity of 32.19% and a negative net margin of 42.15%. Klaviyo’s quarterly revenue was up 35.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.09 earnings per share. Analysts predict that Klaviyo will post -0.01 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Amanda Whalen sold 10,000 shares of Klaviyo stock in a transaction on Friday, September 6th. The shares were sold at an average price of $29.72, for a total value of $297,200.00. Following the completion of the sale, the chief financial officer now owns 422,813 shares of the company’s stock, valued at approximately $12,566,002.36. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, major shareholder Summit Partners L. P sold 242,601 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $31.78, for a total value of $7,709,859.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Amanda Whalen sold 10,000 shares of Klaviyo stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $29.72, for a total value of $297,200.00. Following the transaction, the chief financial officer now directly owns 422,813 shares in the company, valued at approximately $12,566,002.36. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 871,477 shares of company stock worth $27,610,861 in the last ninety days. Corporate insiders own 53.24% of the company’s stock.

Institutional Investors Weigh In On Klaviyo

A number of institutional investors and hedge funds have recently bought and sold shares of KVYO. nVerses Capital LLC bought a new stake in Klaviyo in the 3rd quarter worth about $53,000. EntryPoint Capital LLC purchased a new stake in shares of Klaviyo during the first quarter valued at approximately $71,000. William Marsh Rice University purchased a new stake in shares of Klaviyo during the third quarter valued at approximately $245,000. Creative Planning purchased a new position in Klaviyo in the third quarter worth $254,000. Finally, SG Americas Securities LLC purchased a new position in Klaviyo in the second quarter worth $236,000. 45.43% of the stock is owned by hedge funds and other 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.