Klaviyo (NYSE:KVYO) Stock Price Expected to Rise, Piper Sandler Analyst Says

Klaviyo (NYSE:KVYO) had its price objective hoisted by equities research analysts at Piper Sandler from $45.00 to $50.00 in a report issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s price target points to a potential upside of 20.08% from the company’s previous close.

A number of other research analysts also recently weighed in on the company. Barclays lifted their price target on Klaviyo from $32.00 to $41.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Macquarie reiterated a “neutral” rating and issued a $36.00 target price on shares of Klaviyo in a report on Friday, November 8th. Stifel Nicolaus assumed coverage on shares of Klaviyo in a research report on Tuesday, October 22nd. They issued a “buy” rating and a $45.00 price target for the company. William Blair reaffirmed an “outperform” rating on shares of Klaviyo in a research report on Thursday, December 19th. Finally, Loop Capital increased their target price on shares of Klaviyo from $45.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, December 23rd. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $41.41.

Klaviyo Trading Down 2.4 %

KVYO stock opened at $41.64 on Monday. The firm has a 50-day moving average of $39.14 and a two-hundred day moving average of $33.54. The firm has a market capitalization of $11.23 billion, a PE ratio of -231.32 and a beta of 0.57. Klaviyo has a one year low of $21.26 and a one year high of $44.77.

Klaviyo (NYSE:KVYO) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.11 by $0.04. Klaviyo had a negative net margin of 5.23% and a positive return on equity of 0.86%. The business had revenue of $235.09 million during the quarter, compared to the consensus estimate of $226.33 million. During the same quarter in the prior year, the firm earned ($1.24) EPS. The firm’s quarterly revenue was up 33.7% on a year-over-year basis. On average, equities research analysts anticipate that Klaviyo will post 0.03 earnings per share for the current year.

Insider Buying and Selling at Klaviyo

In other Klaviyo news, President Stephen Eric Rowland sold 18,114 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $37.19, for a total transaction of $673,659.66. Following the completion of the sale, the president now directly owns 192,488 shares in the company, valued at $7,158,628.72. This represents a 8.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Amanda Whalen sold 15,000 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $34.56, for a total value of $518,400.00. Following the completion of the sale, the chief financial officer now directly owns 395,616 shares in the company, valued at approximately $13,672,488.96. This represents a 3.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 117,650 shares of company stock worth $4,323,105 over the last 90 days. Insiders own 53.24% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of KVYO. Advisors Asset Management Inc. increased its position in Klaviyo by 145.6% during the third quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company’s stock worth $48,000 after acquiring an additional 808 shares during the period. nVerses Capital LLC bought a new position in shares of Klaviyo during the 3rd quarter worth about $53,000. West Tower Group LLC acquired a new position in shares of Klaviyo during the third quarter valued at about $177,000. Victory Capital Management Inc. bought a new stake in shares of Klaviyo in the third quarter valued at about $208,000. Finally, William Marsh Rice University acquired a new stake in Klaviyo during the third quarter worth about $245,000. 45.43% of the stock is currently owned by institutional investors and hedge funds.

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.