Klaviyo (NYSE:KVYO) Price Target Raised to $48.00

Klaviyo (NYSE:KVYO) had its price objective boosted by Citigroup from $39.00 to $48.00 in a report published on Tuesday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other research firms have also commented on KVYO. Stifel Nicolaus began coverage on shares of Klaviyo in a research report on Tuesday, October 22nd. They set a “buy” rating and a $45.00 price target for the company. Wells Fargo & Company upped their price objective on shares of Klaviyo from $37.00 to $41.00 and gave the company an “equal weight” rating in a report on Tuesday, January 7th. Scotiabank upped their price objective on shares of Klaviyo from $35.00 to $45.00 and gave the company a “sector perform” rating in a report on Wednesday, January 29th. Piper Sandler upped their price objective on shares of Klaviyo from $45.00 to $50.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Finally, William Blair restated an “outperform” rating on shares of Klaviyo in a report on Thursday, December 19th. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, Klaviyo has an average rating of “Moderate Buy” and a consensus target price of $44.29.

Klaviyo Stock Performance

KVYO stock opened at $47.96 on Tuesday. The firm has a market cap of $12.93 billion, a price-to-earnings ratio of -266.42 and a beta of 0.60. The firm has a 50-day simple moving average of $42.77 and a two-hundred day simple moving average of $36.99. Klaviyo has a one year low of $21.26 and a one year high of $49.55.

Insider Buying and Selling

In other Klaviyo news, CFO Amanda Whalen sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $34.56, for a total value of $518,400.00. Following the sale, the chief financial officer now owns 395,616 shares in the company, valued at approximately $13,672,488.96. This represents a 3.65 % decrease in their position. The transaction 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 company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $34.56, for a total value of $1,382,400.00. Following the completion of the sale, the insider now owns 236,621 shares in the company, valued at approximately $8,177,621.76. This represents a 14.46 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 174,072 shares of company stock worth $6,778,517. 53.24% of the stock is owned by company insiders.

Institutional Investors Weigh In On Klaviyo

Hedge funds have recently bought and sold shares of the stock. Advisors Asset Management Inc. boosted its position in Klaviyo by 145.6% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company’s stock worth $48,000 after purchasing an additional 808 shares in the last quarter. nVerses Capital LLC purchased a new position in shares of Klaviyo during the 3rd quarter valued at approximately $53,000. CIBC Private Wealth Group LLC lifted its position in shares of Klaviyo by 169.5% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,752 shares of the company’s stock valued at $72,000 after buying an additional 1,102 shares in the last quarter. West Tower Group LLC purchased a new position in shares of Klaviyo during the 3rd quarter valued at approximately $177,000. Finally, SBI Securities Co. Ltd. purchased a new position in shares of Klaviyo during the 4th quarter valued at approximately $196,000. Hedge funds and other institutional investors 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.