Klaviyo (NYSE:KVYO) Coverage Initiated at Macquarie

Research analysts at Macquarie assumed coverage on shares of Klaviyo (NYSE:KVYO) in a research report issued to clients and investors on Thursday, MarketBeat Ratings reports. The firm set a “neutral” rating and a $36.00 price target on the stock. Macquarie’s price target would indicate a potential downside of 9.15% from the company’s previous close.

Several other research analysts also recently weighed in on KVYO. KeyCorp upgraded shares of Klaviyo from a “sector weight” rating to an “overweight” rating and set a $33.00 price objective on the stock in a report on Thursday, August 8th. Barclays upped their target price on shares of Klaviyo from $32.00 to $41.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Needham & Company LLC reiterated a “buy” rating and set a $40.00 price target on shares of Klaviyo in a research note on Wednesday, September 4th. Cantor Fitzgerald increased their price objective on Klaviyo from $31.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Finally, Robert W. Baird lifted their target price on Klaviyo from $35.00 to $42.00 and gave the company an “outperform” rating in a research report on Thursday, October 10th. Three investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, Klaviyo presently has an average rating of “Moderate Buy” and an average target price of $37.29.

Klaviyo Trading Up 4.2 %

Shares of NYSE KVYO opened at $39.63 on Thursday. The firm’s 50-day moving average price is $34.66 and its 200-day moving average price is $28.17. The firm has a market capitalization of $10.57 billion and a P/E ratio of -28.10. Klaviyo has a 1-year low of $21.26 and a 1-year high of $39.93.

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

Insider Buying and Selling at Klaviyo

In related news, CFO Amanda Whalen sold 60,000 shares of Klaviyo stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $30.23, for a total value of $1,813,800.00. Following the completion of the sale, the chief financial officer now owns 435,993 shares of the company’s stock, valued at approximately $13,180,068.39. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Klaviyo news, CTO Allen Chaves sold 130,000 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $31.59, for a total transaction of $4,106,700.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Amanda Whalen sold 60,000 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $30.23, for a total value of $1,813,800.00. Following the completion of the transaction, the chief financial officer now directly owns 435,993 shares of the company’s stock, valued at $13,180,068.39. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 871,477 shares of company stock valued at $27,610,861. Company insiders own 53.24% of the company’s stock.

Institutional Trading of Klaviyo

Institutional investors have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC bought a new stake in shares of Klaviyo during the first quarter valued at about $662,000. Swiss National Bank purchased a new position in Klaviyo during the first quarter worth about $1,776,000. Blair William & Co. IL increased its stake in Klaviyo by 1,234.0% in the 1st quarter. Blair William & Co. IL now owns 175,531 shares of the company’s stock worth $4,473,000 after acquiring an additional 162,373 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of Klaviyo in the 2nd quarter valued at about $747,000. Finally, Clearbridge Investments LLC boosted its position in shares of Klaviyo by 1.5% during the 1st quarter. Clearbridge Investments LLC now owns 2,205,684 shares of the company’s stock valued at $56,201,000 after acquiring an additional 31,587 shares during the last quarter. Hedge funds and other 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.