Mizuho Cuts Klaviyo (NYSE:KVYO) Price Target to $40.00

Klaviyo (NYSE:KVYO) had its target price cut by Mizuho from $52.00 to $40.00 in a research report report published on Tuesday,Benzinga reports. They currently have an outperform rating on the stock.

Other analysts also recently issued reports about the stock. Wells Fargo & Company dropped their price target on shares of Klaviyo from $48.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 20th. The Goldman Sachs Group increased their price target on Klaviyo from $45.00 to $51.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Stephens began coverage on Klaviyo in a report on Wednesday, March 19th. They issued an “overweight” rating and a $43.00 price objective for the company. Robert W. Baird boosted their price target on shares of Klaviyo from $52.00 to $54.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Finally, Canaccord Genuity Group raised their price objective on shares of Klaviyo from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Five investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $47.89.

Klaviyo Trading Down 1.0 %

KVYO opened at $25.70 on Tuesday. The business’s 50 day moving average is $34.87 and its 200-day moving average is $38.09. The stock has a market cap of $7.02 billion, a PE ratio of -142.75 and a beta of 1.39. Klaviyo has a twelve month low of $21.26 and a twelve month high of $49.55.

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

Insider Buying and Selling

In related news, CFO Amanda Whalen sold 15,000 shares of the stock in a transaction 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 completion of the sale, the chief financial officer now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Summit Partners L. P sold 2,000,000 shares of Klaviyo stock in a transaction on Friday, March 14th. The shares were sold at an average price of $32.44, for a total value of $64,880,000.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,088,770 shares of company stock worth $67,947,356. 53.24% of the stock is owned by company insiders.

Institutional Investors Weigh In On Klaviyo

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Focus Partners Wealth acquired a new position in Klaviyo in the fourth quarter worth approximately $38,870,000. D. E. Shaw & Co. Inc. increased its stake in shares of Klaviyo by 195.4% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,310,227 shares of the company’s stock worth $54,034,000 after purchasing an additional 866,749 shares during the last quarter. Lord Abbett & CO. LLC bought a new position in shares of Klaviyo during the 4th quarter valued at $30,851,000. Ameriprise Financial Inc. lifted its stake in shares of Klaviyo by 229.5% in the 4th quarter. Ameriprise Financial Inc. now owns 982,134 shares of the company’s stock valued at $40,507,000 after purchasing an additional 684,026 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Klaviyo by 9.1% in the fourth quarter. Vanguard Group Inc. now owns 7,721,855 shares of the company’s stock worth $318,449,000 after purchasing an additional 646,628 shares in the last quarter. 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.