Klaviyo (NYSE:KVYO) Price Target Raised to $54.00

Klaviyo (NYSE:KVYO) had its price target upped by Cantor Fitzgerald from $47.00 to $54.00 in a research note issued to investors on Thursday,Benzinga reports. Cantor Fitzgerald currently has an overweight rating on the stock.

KVYO has been the subject of several other research reports. Canaccord Genuity Group boosted their price target on Klaviyo from $32.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Morgan Stanley lifted their price target on shares of Klaviyo from $38.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. Scotiabank increased their target price on shares of Klaviyo from $35.00 to $45.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 29th. Needham & Company LLC lifted their price objective on shares of Klaviyo from $46.00 to $56.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Wells Fargo & Company dropped their price target on Klaviyo from $48.00 to $45.00 and set an “equal weight” rating for the company in a research note on Thursday. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Klaviyo currently has an average rating of “Moderate Buy” and a consensus price target of $49.44.

Klaviyo Stock Down 5.6 %

Shares of KVYO stock opened at $41.79 on Thursday. The business’s fifty day moving average is $43.72 and its 200 day moving average is $38.04. The stock has a market cap of $11.27 billion, a price-to-earnings ratio of -232.14 and a beta of 0.60. Klaviyo has a twelve month low of $21.26 and a twelve month high of $49.55.

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

Insider Activity

In other news, President Stephen Eric Rowland sold 4,536 shares of Klaviyo stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $40.04, for a total value of $181,621.44. Following the transaction, the president now directly owns 260,403 shares in the company, valued at approximately $10,426,536.12. This trade represents a 1.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Amanda Whalen sold 1,050 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $40.07, for a total transaction of $42,073.50. Following the sale, the chief financial officer now directly owns 395,616 shares of the company’s stock, valued at approximately $15,852,333.12. The trade was a 0.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 114,536 shares of company stock valued at $4,720,953. Corporate insiders own 53.24% of the company’s stock.

Hedge Funds Weigh In On Klaviyo

Hedge funds and other institutional investors have recently modified their holdings of the stock. Creative Planning acquired a new position in shares of Klaviyo in the third quarter valued at about $254,000. SpiderRock Advisors LLC grew its position in shares of Klaviyo by 1,571.7% during the 3rd quarter. SpiderRock Advisors LLC now owns 501,500 shares of the company’s stock valued at $17,743,000 after acquiring an additional 471,500 shares during the period. Mayflower Financial Advisors LLC grew its holdings in Klaviyo by 181.4% in the third quarter. Mayflower Financial Advisors LLC now owns 684,948 shares of the company’s stock valued at $24,233,000 after purchasing an additional 441,500 shares during the period. Lisanti Capital Growth LLC purchased a new stake in Klaviyo in the 3rd quarter worth $5,513,000. Finally, Aigen Investment Management LP acquired a new position in shares of Klaviyo during the 3rd quarter worth about $335,000. 45.43% of the stock is owned by hedge funds and other institutional investors.

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.