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

Klaviyo (NYSE:KVYO) had its target price lifted by Cantor Fitzgerald from $33.00 to $47.00 in a research note issued to investors on Thursday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other research firms have also commented on KVYO. KeyCorp raised Klaviyo from a “sector weight” rating to an “overweight” rating and set a $33.00 target price on the stock in a report on Thursday, August 8th. Benchmark reduced their price objective on Klaviyo from $42.00 to $40.00 and set a “buy” rating on the stock in a research report on Thursday. Piper Sandler lifted their price objective on Klaviyo from $34.00 to $45.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Robert W. Baird lifted their target price on Klaviyo from $35.00 to $42.00 and gave the company an “outperform” rating in a report on Thursday, October 10th. Finally, Macquarie began coverage on Klaviyo in a research report on Thursday, October 31st. They issued a “neutral” rating and a $36.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.00.

Klaviyo Stock Down 1.3 %

NYSE:KVYO traded down $0.43 during mid-day trading on Thursday, hitting $33.35. 2,299,979 shares of the stock traded hands, compared to its average volume of 895,890. The stock has a market capitalization of $8.89 billion, a price-to-earnings ratio of -185.27 and a beta of 1.13. The firm’s 50 day moving average is $35.21 and its two-hundred day moving average is $28.66. Klaviyo has a 52 week low of $21.26 and a 52 week high of $41.00.

Klaviyo (NYSE:KVYO) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.04. Klaviyo had a negative net margin of 5.23% and a positive return on equity of 0.87%. The business had revenue of $235.09 million for the quarter, compared to analyst estimates of $226.33 million. During the same period in the previous year, the company earned ($1.24) earnings per share. The business’s revenue for the quarter was up 33.7% on a year-over-year basis. As a group, research analysts predict that Klaviyo will post -0.01 EPS for the current year.

Insider Buying and Selling at Klaviyo

In other news, CFO Amanda Whalen sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $29.72, for a total transaction of $297,200.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CFO Amanda Whalen sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $29.72, for a total transaction of $297,200.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Stephen Eric Rowland sold 18,114 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $37.19, for a total value of $673,659.66. Following the sale, the president now directly owns 192,488 shares in the company, valued at approximately $7,158,628.72. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 789,711 shares of company stock worth $25,143,646 over the last ninety days. Company insiders own 53.24% of the company’s stock.

Institutional Investors Weigh In On Klaviyo

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KVYO. Bank of New York Mellon Corp raised its holdings in Klaviyo by 677.7% during the second quarter. Bank of New York Mellon Corp now owns 2,762,128 shares of the company’s stock worth $68,749,000 after purchasing an additional 2,406,973 shares in the last quarter. SpiderRock Advisors LLC increased its holdings in shares of Klaviyo by 1,571.7% in the third quarter. SpiderRock Advisors LLC now owns 501,500 shares of the company’s stock valued at $17,743,000 after buying an additional 471,500 shares in the last quarter. Mayflower Financial Advisors LLC increased its holdings in shares of Klaviyo by 181.4% in the third quarter. Mayflower Financial Advisors LLC now owns 684,948 shares of the company’s stock valued at $24,233,000 after buying an additional 441,500 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Klaviyo by 53.6% in the second quarter. Millennium Management LLC now owns 1,120,485 shares of the company’s stock valued at $27,889,000 after buying an additional 390,849 shares in the last quarter. Finally, Claro Advisors LLC increased its holdings in shares of Klaviyo by 38.7% in the second quarter. Claro Advisors LLC now owns 1,280,035 shares of the company’s stock valued at $31,860,000 after buying an additional 357,355 shares in the last quarter. Institutional investors own 45.43% of the company’s stock.

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.