Klaviyo (NYSE:KVYO) Price Target Raised to $50.00

Klaviyo (NYSE:KVYO) had its target price upped by investment analysts at Piper Sandler from $45.00 to $50.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s price objective would indicate a potential upside of 17.79% from the company’s current price.

KVYO has been the subject of a number of other research reports. Robert W. Baird boosted their price objective on shares of Klaviyo from $42.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Wells Fargo & Company restated a “buy” rating on shares of Klaviyo in a research note on Friday, October 18th. Needham & Company LLC raised their price objective on Klaviyo from $40.00 to $46.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Stifel Nicolaus assumed coverage on shares of Klaviyo in a report on Tuesday, October 22nd. They issued a “buy” rating and a $45.00 target price for the company. Finally, Benchmark lowered their price target on shares of Klaviyo from $42.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $41.18.

Klaviyo Trading Up 1.9 %

Shares of Klaviyo stock opened at $42.45 on Monday. The stock’s fifty day moving average price is $39.02 and its 200-day moving average price is $33.27. The firm has a market cap of $11.45 billion, a P/E ratio of -235.82 and a beta of 0.97. Klaviyo has a 12 month low of $21.26 and a 12 month high of $44.77.

Klaviyo (NYSE:KVYO) last issued its earnings results on Wednesday, November 6th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.04. Klaviyo had a negative net margin of 5.23% and a positive return on equity of 0.86%. The company had revenue of $235.09 million for the quarter, compared to analysts’ expectations of $226.33 million. During the same period in the prior year, the business earned ($1.24) EPS. The firm’s quarterly revenue was up 33.7% on a year-over-year basis. Analysts forecast that Klaviyo will post 0.03 earnings per share for the current year.

Insider Activity

In related news, insider Landon Edmond sold 40,000 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $34.56, for a total transaction of $1,382,400.00. Following the sale, the insider now directly owns 236,621 shares of the company’s stock, valued at $8,177,621.76. This trade represents a 14.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Stephen Eric Rowland sold 18,114 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $37.19, for a total value of $673,659.66. Following the completion of the transaction, the president now directly owns 192,488 shares of the company’s stock, valued at $7,158,628.72. The trade was a 8.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 117,650 shares of company stock valued at $4,323,105 in the last ninety days. Insiders own 53.24% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Whale Rock Capital Management LLC boosted its stake in shares of Klaviyo by 608.9% during the 3rd quarter. Whale Rock Capital Management LLC now owns 3,600,606 shares of the company’s stock worth $127,389,000 after acquiring an additional 3,092,725 shares in the last quarter. SpiderRock Advisors LLC lifted 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 buying an additional 471,500 shares in the last quarter. Mayflower Financial Advisors LLC grew its position in shares of 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. Millennium Management LLC boosted its holdings in Klaviyo by 53.6% in the 2nd quarter. Millennium Management LLC now owns 1,120,485 shares of the company’s stock worth $27,889,000 after buying an additional 390,849 shares during the last quarter. Finally, Two Sigma Advisers LP increased its stake in Klaviyo by 121.5% during the 3rd quarter. Two Sigma Advisers LP now owns 673,500 shares of the company’s stock worth $23,828,000 after buying an additional 369,400 shares in the last quarter. 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.