Klaviyo (NYSE:KVYO – Free Report) had its price target raised by Needham & Company LLC from $40.00 to $46.00 in a report released on Thursday,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.
Other equities analysts have also recently issued research reports about the stock. Piper Sandler raised their target price on shares of Klaviyo from $34.00 to $45.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Benchmark cut their price target on Klaviyo from $42.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday. Macquarie assumed coverage on Klaviyo in a research note on Thursday, October 31st. They set a “neutral” rating and a $36.00 price objective for the company. Barclays raised their target price on Klaviyo from $32.00 to $41.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Finally, Stifel Nicolaus initiated 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. Three analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $39.00.
Check Out Our Latest Stock Analysis on KVYO
Klaviyo Stock Performance
Klaviyo (NYSE:KVYO – Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.04. Klaviyo had a positive return on equity of 0.87% and a negative net margin of 5.23%. The firm had revenue of $235.09 million for the quarter, compared to analysts’ expectations of $226.33 million. During the same quarter in the prior year, the firm posted ($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 analysts predict that Klaviyo will post -0.01 earnings per share for the current year.
Insider Activity
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 shares were sold at an average price of $31.64, for a total value of $41,132.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, major shareholder Summit Partners L. P sold 1,300 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $31.64, for a total transaction of $41,132.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Amanda Whalen sold 10,000 shares of the business’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $29.72, for a total value of $297,200.00. Following the sale, the chief financial officer now directly owns 422,813 shares in the company, valued at $12,566,002.36. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 789,711 shares of company stock worth $25,143,646 over the last 90 days. 53.24% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in KVYO. Bank of New York Mellon Corp grew its holdings in shares of Klaviyo by 677.7% during the second quarter. Bank of New York Mellon Corp now owns 2,762,128 shares of the company’s stock valued at $68,749,000 after buying an additional 2,406,973 shares in the last quarter. Clearbridge Investments LLC increased its holdings in shares of Klaviyo by 1.5% in the 1st quarter. Clearbridge Investments LLC now owns 2,205,684 shares of the company’s stock valued at $56,201,000 after purchasing an additional 31,587 shares during the period. Glynn Capital Management LLC lifted its position in shares of Klaviyo by 19.7% in the second quarter. Glynn Capital Management LLC now owns 1,363,768 shares of the company’s stock worth $33,944,000 after purchasing an additional 224,461 shares in the last quarter. Claro Advisors LLC boosted its holdings in shares of Klaviyo by 38.7% during the second quarter. Claro Advisors LLC now owns 1,280,035 shares of the company’s stock worth $31,860,000 after purchasing an additional 357,355 shares during the period. Finally, Millennium Management LLC lifted its position in Klaviyo by 53.6% in the 2nd quarter. Millennium Management LLC now owns 1,120,485 shares of the company’s stock worth $27,889,000 after buying an additional 390,849 shares in the last quarter. 45.43% of the stock is currently owned by institutional investors and hedge funds.
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.
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