Klaviyo (NYSE:KVYO) Price Target Lowered to $40.00 at Benchmark

Klaviyo (NYSE:KVYO) had its target price decreased by equities researchers at Benchmark from $42.00 to $40.00 in a research report issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. Benchmark’s price objective suggests a potential upside of 12.83% from the company’s previous close.

Several other analysts have also recently commented on KVYO. Piper Sandler boosted their price target on Klaviyo from $34.00 to $45.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Robert W. Baird boosted their price target on Klaviyo from $35.00 to $42.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. Needham & Company LLC reiterated a “buy” rating and set a $40.00 price target on shares of Klaviyo in a research report on Wednesday, September 4th. Wells Fargo & Company restated a “buy” rating on shares of Klaviyo in a report on Friday, October 18th. Finally, Stifel Nicolaus started coverage on Klaviyo in a report on Tuesday, October 22nd. They issued a “buy” rating and a $45.00 target price for the company. Three investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.18.

Klaviyo Price Performance

Shares of KVYO stock opened at $35.45 on Thursday. The company has a market cap of $9.45 billion, a price-to-earnings ratio of -25.14 and a beta of 1.13. The stock has a 50 day simple moving average of $35.12 and a 200-day simple moving average of $28.55. Klaviyo has a 1-year low of $21.26 and a 1-year high of $41.00.

Klaviyo (NYSE:KVYO) last announced its earnings results on Wednesday, August 7th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.05. The business had revenue of $222.21 million during 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 business’s quarterly revenue was up 35.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.09 EPS. Analysts anticipate that Klaviyo will post -0.01 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, President Stephen Eric Rowland sold 18,114 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $37.19, for a total transaction of $673,659.66. Following the transaction, the president now owns 192,488 shares of the company’s stock, valued at approximately $7,158,628.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, President Stephen Eric Rowland sold 18,114 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $37.19, for a total transaction of $673,659.66. Following the transaction, the president now owns 192,488 shares of the company’s stock, valued at approximately $7,158,628.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Landon Edmond sold 21,766 shares of the stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $30.02, for a total value of $653,415.32. Following the transaction, the insider now directly owns 260,413 shares in the company, valued at approximately $7,817,598.26. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 871,477 shares of company stock valued at $27,610,861. Corporate insiders own 53.24% of the company’s stock.

Institutional Investors Weigh In On Klaviyo

A number of hedge funds have recently bought and sold shares of KVYO. nVerses Capital LLC purchased a new position in shares of Klaviyo in the 3rd quarter valued at about $53,000. EntryPoint Capital LLC purchased a new position in shares of Klaviyo in the 1st quarter valued at approximately $71,000. Dark Forest Capital Management LP grew its stake in shares of Klaviyo by 13.7% in the 2nd quarter. Dark Forest Capital Management LP now owns 23,689 shares of the company’s stock valued at $590,000 after purchasing an additional 2,851 shares during the last quarter. Victory Capital Management Inc. purchased a new position in shares of Klaviyo in the 3rd quarter valued at approximately $208,000. Finally, Arizona State Retirement System grew its stake in shares of Klaviyo by 67.1% in the 2nd quarter. Arizona State Retirement System now owns 16,221 shares of the company’s stock valued at $404,000 after purchasing an additional 6,512 shares during the last quarter. Institutional investors and hedge funds 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.