Piper Sandler Forecasts Strong Price Appreciation for Klaviyo (NYSE:KVYO) Stock

Klaviyo (NYSE:KVYO) had its target price boosted by Piper Sandler from $45.00 to $50.00 in a research report sent to investors on Monday,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other research analysts have also recently issued reports on KVYO. Canaccord Genuity Group upped their price target on Klaviyo from $32.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Macquarie reaffirmed a “neutral” rating and set a $36.00 target price on shares of Klaviyo in a research report on Friday, November 8th. Loop Capital increased their price target on Klaviyo from $45.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, December 23rd. Cantor Fitzgerald boosted their price objective on Klaviyo from $33.00 to $47.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Finally, Robert W. Baird raised their target price on shares of Klaviyo from $42.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $41.18.

Klaviyo Stock Performance

KVYO opened at $42.64 on Monday. The company has a market capitalization of $11.50 billion, a PE ratio of -236.88 and a beta of 0.57. The stock’s fifty day moving average is $39.09 and its 200-day moving average is $33.41. Klaviyo has a one year low of $21.26 and a one year high of $44.77.

Klaviyo (NYSE:KVYO) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.15 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 0.86%. The firm had revenue of $235.09 million for the quarter, compared to analysts’ expectations of $226.33 million. During the same period in the previous year, the business earned ($1.24) earnings per share. Klaviyo’s revenue for the quarter was up 33.7% compared to the same quarter last year. On average, equities research analysts forecast that Klaviyo will post 0.03 EPS for the current fiscal year.

Insider Activity

In related news, CFO Amanda Whalen sold 15,000 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $34.56, for a total value of $518,400.00. Following the completion of the sale, the chief financial officer now directly owns 395,616 shares in the company, valued at approximately $13,672,488.96. This represents a 3.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Landon Edmond sold 40,000 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $34.56, for a total transaction of $1,382,400.00. Following the transaction, the insider now directly owns 236,621 shares in the company, valued at $8,177,621.76. The trade was a 14.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 117,650 shares of company stock worth $4,323,105 in the last three months. 53.24% of the stock is owned by insiders.

Hedge Funds Weigh In On Klaviyo

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. grew its stake in Klaviyo by 145.6% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company’s stock valued at $48,000 after buying an additional 808 shares during the last quarter. nVerses Capital LLC acquired a new stake in shares of Klaviyo in the third quarter valued at about $53,000. West Tower Group LLC bought a new position in shares of Klaviyo in the third quarter worth about $177,000. Victory Capital Management Inc. acquired a new position in shares of Klaviyo during the 3rd quarter worth about $208,000. Finally, William Marsh Rice University bought a new stake in Klaviyo during the 3rd quarter valued at approximately $245,000. Institutional investors and hedge funds 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.