Klaviyo (NYSE:KVYO) Price Target Raised to $45.00

Klaviyo (NYSE:KVYO) had its price target hoisted by Scotiabank from $35.00 to $45.00 in a research report sent to investors on Wednesday,Benzinga reports. The brokerage currently has a sector perform rating on the stock.

Several other brokerages have also issued reports on KVYO. Canaccord Genuity Group boosted their target price on Klaviyo from $32.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Barclays upped their price objective on shares of Klaviyo from $32.00 to $41.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Piper Sandler boosted their price target on shares of Klaviyo from $45.00 to $50.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Macquarie reaffirmed a “neutral” rating and issued a $36.00 price objective on shares of Klaviyo in a report on Friday, November 8th. Finally, Stifel Nicolaus started coverage on shares of Klaviyo in a report on Tuesday, October 22nd. They set a “buy” rating and a $45.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, Klaviyo has an average rating of “Moderate Buy” and a consensus target price of $43.18.

Klaviyo Stock Performance

Shares of NYSE:KVYO opened at $45.94 on Wednesday. Klaviyo has a 1 year low of $21.26 and a 1 year high of $47.96. The business has a fifty day moving average price of $40.93 and a two-hundred day moving average price of $35.53.

Klaviyo (NYSE:KVYO) last released its earnings results on Wednesday, November 6th. The company reported $0.15 earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $226.33 million. During the same period in the previous year, the company earned ($1.24) earnings per share. The company’s quarterly revenue was up 33.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Klaviyo will post 0.03 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, President Stephen Eric Rowland sold 4,536 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $40.04, for a total transaction of $181,621.44. Following the transaction, the president now directly owns 260,403 shares in the company, valued at $10,426,536.12. This trade represents a 1.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Landon Edmond sold 40,000 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were 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 of the company’s stock, valued at approximately $8,177,621.76. This trade represents a 14.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 159,072 shares of company stock valued at $6,090,767. 53.24% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in KVYO. Advisors Asset Management Inc. boosted its holdings in shares of Klaviyo by 145.6% during 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 in the last quarter. nVerses Capital LLC purchased a new position in shares of Klaviyo in the third quarter worth $53,000. West Tower Group LLC purchased a new position in shares of Klaviyo during the third quarter valued at approximately $177,000. Victory Capital Management Inc. bought a new stake in Klaviyo during the third quarter valued at approximately $208,000. Finally, William Marsh Rice University purchased a new stake in shares of Klaviyo in the third quarter worth $245,000. 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.