Piper Sandler Forecasts Strong Price Appreciation for Klaviyo (NYSE:KVYO) Stock

Klaviyo (NYSE:KVYO) had its target price lifted by Piper Sandler from $50.00 to $53.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s price objective suggests a potential upside of 12.91% from the company’s current price.

Several other research analysts have also recently weighed in on the stock. Canaccord Genuity Group upped their price objective on shares of Klaviyo from $32.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Macquarie reiterated a “neutral” rating and set a $36.00 price objective on shares of Klaviyo in a research report on Friday, November 8th. Needham & Company LLC increased their price target on shares of Klaviyo from $46.00 to $56.00 and gave the company a “buy” rating in a research report on Thursday. Citigroup lifted their price target on shares of Klaviyo from $39.00 to $48.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 11th. Finally, Benchmark upped their price objective on shares of Klaviyo from $40.00 to $51.00 and gave the company a “buy” rating in a research note on Wednesday. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.71.

Klaviyo Stock Down 0.7 %

KVYO stock opened at $46.94 on Thursday. The stock has a 50-day simple moving average of $43.56 and a two-hundred day simple moving average of $37.75. Klaviyo has a twelve month low of $21.26 and a twelve month high of $49.55. The firm has a market capitalization of $12.66 billion, a PE ratio of -260.76 and a beta of 0.60.

Klaviyo (NYSE:KVYO) last issued its quarterly earnings data on Wednesday, February 19th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.12). Klaviyo had a negative net margin of 5.23% and a positive return on equity of 0.86%. On average, equities research analysts anticipate that Klaviyo will post 0.03 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Amanda Whalen sold 15,000 shares of the company’s 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 completion of the transaction, the chief financial officer now owns 376,820 shares in the company, valued at $17,277,197. This 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 available through this hyperlink. Also, insider Landon Edmond sold 40,000 shares of Klaviyo stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $41.80, for a total transaction of $1,672,000.00. Following the completion of the sale, the insider now owns 298,607 shares in the company, valued at approximately $12,481,772.60. This trade represents a 11.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 114,536 shares of company stock valued at $4,720,953 over the last ninety days. 53.24% of the stock is owned by insiders.

Hedge Funds Weigh In On Klaviyo

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Bank Julius Baer & Co. Ltd Zurich boosted its position in Klaviyo by 8.0% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,836 shares of the company’s stock valued at $220,000 after acquiring an additional 359 shares in the last quarter. Victory Capital Management Inc. lifted its stake 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 during the period. Arizona State Retirement System boosted its position in shares of Klaviyo by 4.0% during the fourth 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 boosted its position in shares of Klaviyo by 5.0% during the fourth 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. grew its stake in Klaviyo by 145.6% in the third quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company’s stock worth $48,000 after purchasing an additional 808 shares during the period. Hedge funds and other institutional investors own 45.43% of the company’s stock.

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.