Klaviyo (NYSE:KVYO) Price Target Raised to $51.00

Klaviyo (NYSE:KVYO) had its price target increased by Barclays from $47.00 to $51.00 in a research report released on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other analysts have also recently issued reports on KVYO. Piper Sandler upped their price objective on shares of Klaviyo from $50.00 to $53.00 and gave the company an “overweight” rating in a research note on Thursday. Robert W. Baird increased their price target on shares of Klaviyo from $52.00 to $54.00 and gave the company an “outperform” rating in a research note on Thursday. KeyCorp increased their price target on shares of Klaviyo from $42.00 to $45.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Benchmark increased their price target on shares of Klaviyo from $40.00 to $51.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, The Goldman Sachs Group increased their price target on shares of Klaviyo from $45.00 to $51.00 and gave the company a “buy” rating in a research note on Thursday. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $49.44.

Klaviyo Trading Down 5.6 %

Shares of NYSE KVYO opened at $41.79 on Thursday. Klaviyo has a 12-month low of $21.26 and a 12-month high of $49.55. The stock has a market cap of $11.27 billion, a PE ratio of -232.14 and a beta of 0.60. The company has a 50-day moving average of $43.72 and a 200 day moving average of $38.04.

Klaviyo (NYSE:KVYO) last announced its quarterly earnings data on Wednesday, February 19th. The company reported ($0.06) earnings per share (EPS) 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 business had revenue of $270.16 million for the quarter, compared to analysts’ expectations of $257.24 million. On average, sell-side analysts forecast that Klaviyo will post 0.04 EPS for the current fiscal year.

Insiders Place Their Bets

In other Klaviyo news, President Stephen Eric Rowland sold 4,536 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were 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 $10,426,536.12. This represents a 1.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Amanda Whalen sold 15,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $45.85, for a total transaction of $687,750.00. Following the sale, the chief financial officer now owns 376,820 shares in the company, valued at approximately $17,277,197. This trade represents a 3.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 114,536 shares of company stock worth $4,720,953 in the last ninety days. 53.24% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Klaviyo

A number of hedge funds have recently added to or reduced their stakes in the business. Bank Julius Baer & Co. Ltd Zurich raised its holdings in shares of Klaviyo by 8.0% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,836 shares of the company’s stock valued at $220,000 after purchasing an additional 359 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Klaviyo by 10.3% in the 4th quarter. Victory Capital Management Inc. now owns 6,469 shares of the company’s stock valued at $267,000 after purchasing an additional 604 shares in the last quarter. Arizona State Retirement System raised its holdings in shares of Klaviyo by 4.0% in the 4th quarter. Arizona State Retirement System now owns 16,854 shares of the company’s stock valued at $695,000 after purchasing an additional 648 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Klaviyo by 5.0% in the 4th quarter. The Manufacturers Life Insurance Company now owns 14,285 shares of the company’s stock valued at $589,000 after purchasing an additional 677 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its holdings in shares of Klaviyo by 145.6% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company’s stock valued at $48,000 after purchasing an additional 808 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.