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

Klaviyo (NYSE:KVYO) had its price objective lifted by stock analysts at Benchmark from $40.00 to $51.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Benchmark’s price target suggests a potential upside of 8.34% from the stock’s previous close.

A number of other brokerages have also weighed in on KVYO. William Blair reaffirmed an “outperform” rating on shares of Klaviyo in a research note on Thursday, December 19th. Scotiabank upped their price target on shares of Klaviyo from $35.00 to $45.00 and gave the stock a “sector perform” rating in a research note on Wednesday, January 29th. Robert W. Baird increased their target price 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. Macquarie reissued a “neutral” rating and set a $36.00 target price on shares of Klaviyo in a research note on Friday, November 8th. Finally, Wells Fargo & Company increased their target price on shares of Klaviyo from $41.00 to $48.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 12th. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.94.

Klaviyo Trading Up 0.2 %

NYSE KVYO opened at $47.08 on Wednesday. Klaviyo has a 52 week low of $21.26 and a 52 week high of $49.55. The stock has a market cap of $12.69 billion, a price-to-earnings ratio of -261.51 and a beta of 0.60. The company has a 50-day moving average price of $43.41 and a two-hundred day moving average price of $37.69.

Insider Buying and Selling at Klaviyo

In related news, President Stephen Eric Rowland sold 4,536 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $40.04, for a total transaction of $181,621.44. Following the completion of the sale, the president now owns 260,403 shares in the company, valued at $10,426,536.12. This trade represents a 1.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Amanda Whalen sold 1,050 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $40.07, for a total transaction of $42,073.50. Following the sale, the chief financial officer now owns 395,616 shares of the company’s stock, valued at $15,852,333.12. This trade represents a 0.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 114,536 shares of company stock valued at $4,720,953 in the last ninety days. Company insiders own 53.24% of the company’s stock.

Institutional Investors Weigh In On Klaviyo

A number of hedge funds have recently made changes to their positions in KVYO. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Klaviyo by 76.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 105,178 shares of the company’s stock valued at $4,338,000 after acquiring an additional 45,523 shares in the last quarter. Voloridge Investment Management LLC increased its position in Klaviyo by 15.7% in the 4th quarter. Voloridge Investment Management LLC now owns 922,832 shares of the company’s stock valued at $38,058,000 after acquiring an additional 125,352 shares in the last quarter. Washington Harbour Partners LP acquired a new stake in Klaviyo in the 4th quarter valued at about $1,794,000. Whale Rock Capital Management LLC increased its position in Klaviyo by 7.4% in the 4th quarter. Whale Rock Capital Management LLC now owns 3,868,451 shares of the company’s stock valued at $159,535,000 after acquiring an additional 267,845 shares in the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in Klaviyo in the 4th quarter valued at about $2,099,000. Institutional investors and hedge funds 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.