Loop Capital Issues Positive Forecast for Klaviyo (NYSE:KVYO) Stock Price

Klaviyo (NYSE:KVYO) had its price target raised by stock analysts at Loop Capital from $45.00 to $60.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Loop Capital’s price objective indicates a potential upside of 36.12% from the stock’s previous close.

KVYO has been the topic of several other reports. Benchmark dropped their target price on Klaviyo from $42.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Robert W. Baird lifted their price objective on shares of Klaviyo from $42.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Piper Sandler upped their target price on shares of Klaviyo from $34.00 to $45.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Canaccord Genuity Group lifted their price target on shares of Klaviyo from $32.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, Needham & Company LLC upped their price objective on shares of Klaviyo from $40.00 to $46.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $40.88.

Klaviyo Stock Performance

Shares of NYSE:KVYO opened at $44.08 on Monday. Klaviyo has a 1 year low of $21.26 and a 1 year high of $44.77. The stock has a 50-day simple moving average of $38.09 and a 200-day simple moving average of $31.81. The stock has a market capitalization of $11.89 billion, a P/E ratio of -244.88 and a beta of 0.97.

Klaviyo (NYSE:KVYO) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.04. Klaviyo had a negative net margin of 5.23% and a positive return on equity of 0.86%. The firm had revenue of $235.09 million during the quarter, compared to analysts’ expectations of $226.33 million. During the same period in the prior year, the company earned ($1.24) EPS. The firm’s revenue was up 33.7% on a year-over-year basis. Analysts predict that Klaviyo will post 0.03 earnings per share for the current year.

Insider Buying and Selling

In other news, President Stephen Eric Rowland sold 18,114 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $37.19, for a total transaction 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. This represents a 8.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Amanda Whalen sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $35.36, for a total value of $353,600.00. Following the transaction, the chief financial officer now owns 422,813 shares of the company’s stock, valued at $14,950,667.68. This represents a 2.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 127,650 shares of company stock worth $4,676,705 over the last ninety days. 53.24% of the stock is owned by insiders.

Institutional Investors Weigh In On Klaviyo

A number of hedge funds have recently added to or reduced their stakes in KVYO. Whale Rock Capital Management LLC increased its holdings in shares of Klaviyo by 608.9% in the 3rd quarter. Whale Rock Capital Management LLC now owns 3,600,606 shares of the company’s stock worth $127,389,000 after acquiring an additional 3,092,725 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of 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 valued at $68,749,000 after buying an additional 2,406,973 shares during the last quarter. Glynn Capital Management LLC raised its holdings in shares of Klaviyo by 19.7% during the second quarter. Glynn Capital Management LLC now owns 1,363,768 shares of the company’s stock valued at $33,944,000 after buying an additional 224,461 shares during the last quarter. Claro Advisors LLC boosted its position in shares of Klaviyo by 38.7% during the second quarter. Claro Advisors LLC now owns 1,280,035 shares of the company’s stock worth $31,860,000 after buying an additional 357,355 shares during the period. Finally, Millennium Management LLC grew its holdings in Klaviyo by 53.6% in the 2nd quarter. Millennium Management LLC now owns 1,120,485 shares of the company’s stock worth $27,889,000 after buying an additional 390,849 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.