Piper Sandler Increases Klaviyo (NYSE:KVYO) Price Target to $45.00

Klaviyo (NYSE:KVYO) had its target price increased by stock analysts at Piper Sandler from $34.00 to $45.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s target price suggests a potential upside of 19.94% from the stock’s previous close.

A number of other brokerages also recently issued reports on KVYO. Wells Fargo & Company began coverage on shares of Klaviyo in a report on Wednesday. They set an “equal weight” rating and a $37.00 price target on the stock. KeyCorp upgraded shares of Klaviyo from a “sector weight” rating to an “overweight” rating and set a $33.00 target price on the stock in a report on Thursday, August 8th. Benchmark began coverage on shares of Klaviyo in a research note on Monday, September 30th. They set a “buy” rating and a $42.00 target price for the company. Needham & Company LLC restated a “buy” rating and issued a $40.00 price target on shares of Klaviyo in a research note on Wednesday, September 4th. Finally, Cantor Fitzgerald upped their price objective on Klaviyo from $31.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $36.87.

Klaviyo Stock Up 0.4 %

Shares of NYSE KVYO opened at $37.52 on Friday. The company has a 50 day moving average of $33.27 and a 200 day moving average of $27.18. Klaviyo has a twelve month low of $21.26 and a twelve month high of $38.50. The firm has a market cap of $9.93 billion and a P/E ratio of -26.61.

Klaviyo (NYSE:KVYO) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.05. Klaviyo had a negative return on equity of 32.19% and a negative net margin of 42.15%. The firm had revenue of $222.21 million for the quarter, compared to the consensus estimate of $212.34 million. During the same period in the prior year, the company posted $0.09 earnings per share. The company’s quarterly revenue was up 35.0% on a year-over-year basis. As a group, equities analysts expect that Klaviyo will post -0.01 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Summit Partners L. P sold 1,300 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $31.64, for a total value of $41,132.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, major shareholder Summit Partners L. P sold 1,300 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $31.64, for a total value of $41,132.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Jeff Fagnan purchased 9,485 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was acquired at an average price of $26.43 per share, with a total value of $250,688.55. Following the completion of the purchase, the insider now directly owns 9,485 shares in the company, valued at $250,688.55. The disclosure for this purchase can be found here. Insiders have sold 871,477 shares of company stock worth $27,610,861 in the last three months. Company insiders own 53.24% of the company’s stock.

Institutional Trading of Klaviyo

Several hedge funds have recently bought and sold shares of KVYO. nVerses Capital LLC bought a new stake in shares of Klaviyo in the third quarter worth about $53,000. William Marsh Rice University bought a new stake in Klaviyo in the 3rd quarter worth approximately $245,000. Renaissance Capital LLC raised its holdings in shares of Klaviyo by 134.6% during the 3rd quarter. Renaissance Capital LLC now owns 78,401 shares of the company’s stock worth $2,774,000 after acquiring an additional 44,977 shares in the last quarter. Cabot Wealth Management Inc. boosted its position in shares of Klaviyo by 101.1% during the 3rd quarter. Cabot Wealth Management Inc. now owns 90,425 shares of the company’s stock valued at $3,199,000 after acquiring an additional 45,451 shares during the last quarter. Finally, Creative Planning purchased a new position in shares of Klaviyo in the third quarter valued at $254,000. 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.