Klaviyo (NYSE:KVYO) Price Target Raised to $50.00

Klaviyo (NYSE:KVYO) had its target price raised by Morgan Stanley from $47.00 to $50.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have an equal weight rating on the stock.

KVYO has been the subject of several other research reports. William Blair restated an “outperform” rating on shares of Klaviyo in a research report on Thursday, December 19th. Wells Fargo & Company cut their price objective on Klaviyo from $48.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Thursday. Loop Capital increased their target price on Klaviyo from $45.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, December 23rd. Benchmark boosted their target price on shares of Klaviyo from $40.00 to $51.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Canaccord Genuity Group raised their price target on shares of Klaviyo from $32.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $49.44.

Klaviyo Stock Performance

NYSE:KVYO opened at $41.79 on Thursday. The firm has a market capitalization of $11.27 billion, a PE ratio of -232.14 and a beta of 0.60. The stock’s fifty day moving average is $43.72 and its 200 day moving average is $38.04. Klaviyo has a fifty-two week low of $21.26 and a fifty-two week high of $49.55.

Klaviyo (NYSE:KVYO) last announced its earnings results on Wednesday, February 19th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.12). Klaviyo had a negative net margin of 4.92% and a positive return on equity of 0.89%. The firm had revenue of $270.16 million during the quarter, compared to analysts’ expectations of $257.24 million. Equities analysts forecast that Klaviyo will post 0.04 EPS for the current year.

Insider Buying and Selling

In related news, CFO Amanda Whalen sold 23,950 shares of Klaviyo stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $40.04, for a total value of $958,958.00. Following the completion of the sale, the chief financial officer now directly owns 395,616 shares in the company, valued at $15,840,464.64. This trade represents a 5.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Stephen Eric Rowland sold 4,536 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $40.04, for a total transaction of $181,621.44. Following the sale, the president now directly owns 260,403 shares in the company, valued at approximately $10,426,536.12. This represents a 1.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 114,536 shares of company stock worth $4,720,953 in the last 90 days. 53.24% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Klaviyo

Several institutional investors and hedge funds have recently made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Klaviyo by 76.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 105,178 shares of the company’s stock valued at $4,338,000 after acquiring an additional 45,523 shares during the period. Voloridge Investment Management LLC grew its stake in Klaviyo by 15.7% during the 4th quarter. Voloridge Investment Management LLC now owns 922,832 shares of the company’s stock valued at $38,058,000 after purchasing an additional 125,352 shares during the last quarter. Washington Harbour Partners LP acquired a new position in shares of Klaviyo in the fourth quarter valued at about $1,794,000. Whale Rock Capital Management LLC raised its stake in shares of Klaviyo by 7.4% in the fourth quarter. Whale Rock Capital Management LLC now owns 3,868,451 shares of the company’s stock worth $159,535,000 after purchasing an additional 267,845 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in shares of Klaviyo during the fourth quarter worth about $2,099,000. 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.