Stifel Nicolaus Forecasts Strong Price Appreciation for Klaviyo (NYSE:KVYO) Stock

Klaviyo (NYSE:KVYO) had its target price lifted by research analysts at Stifel Nicolaus from $45.00 to $54.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ target price indicates a potential upside of 25.63% from the stock’s current price.

Other equities research analysts also recently issued research reports about the company. Robert W. Baird raised their price target on Klaviyo from $52.00 to $54.00 and gave the company an “outperform” rating in a report on Thursday. Piper Sandler upped their price objective on shares of Klaviyo from $50.00 to $53.00 and gave the stock an “overweight” rating in a research report on Thursday. Mizuho boosted their target price on Klaviyo from $42.00 to $52.00 and gave the stock an “outperform” rating in a research note on Thursday. Loop Capital boosted 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. Finally, Canaccord Genuity Group upped their price objective on Klaviyo from $40.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $49.44.

Klaviyo Stock Performance

Klaviyo stock traded down $4.02 during trading hours on Thursday, reaching $42.98. 3,294,301 shares of the company’s stock traded hands, compared to its average volume of 1,198,081. Klaviyo has a fifty-two week low of $21.26 and a fifty-two week high of $49.55. The firm has a market capitalization of $11.59 billion, a price-to-earnings ratio of -238.78 and a beta of 0.60. The firm’s 50 day moving average is $43.56 and its 200-day moving average is $37.75.

Klaviyo (NYSE:KVYO) last issued its quarterly 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 positive return on equity of 0.86% and a negative net margin of 5.23%. The business had revenue of $270.16 million for the quarter, compared to the consensus estimate of $257.24 million. Analysts predict that Klaviyo will post 0.03 EPS for the current year.

Insider Activity

In other news, CFO Amanda Whalen sold 23,950 shares of Klaviyo stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $40.04, for a total transaction of $958,958.00. Following the completion of the sale, the chief financial officer now owns 395,616 shares in the company, valued at approximately $15,840,464.64. This trade represents a 5.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Landon Edmond sold 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $41.80, for a total value of $1,672,000.00. Following the completion of the sale, the insider now owns 298,607 shares of the company’s stock, valued at $12,481,772.60. The trade was a 11.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 114,536 shares of company stock valued at $4,720,953 in the last ninety days. 53.24% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Klaviyo

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. increased its position in Klaviyo by 145.6% during the third quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company’s stock valued at $48,000 after acquiring an additional 808 shares during the last quarter. CIBC Private Wealth Group LLC lifted its stake in shares of Klaviyo by 169.5% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,752 shares of the company’s stock worth $72,000 after acquiring an additional 1,102 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in Klaviyo by 77.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,874 shares of the company’s stock worth $77,000 after purchasing an additional 818 shares during the period. SBI Securities Co. Ltd. purchased a new position in shares of Klaviyo in the 4th quarter valued at $196,000. Finally, US Bancorp DE acquired a new stake in shares of Klaviyo in the 4th quarter worth $199,000. 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.