Analysts Set Klaviyo, Inc. (NYSE:KVYO) PT at $41.41

Klaviyo, Inc. (NYSE:KVYO) has earned an average rating of “Moderate Buy” from the eighteen research firms that are currently covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation and fourteen have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $41.41.

A number of brokerages recently weighed in on KVYO. Canaccord Genuity Group upped their price objective on Klaviyo from $32.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Barclays upped their price target on shares of Klaviyo from $32.00 to $41.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Wells Fargo & Company raised their price objective on shares of Klaviyo from $37.00 to $41.00 and gave the company an “equal weight” rating in a research note on Tuesday. Loop Capital upped their target price on shares of Klaviyo from $45.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, December 23rd. Finally, Piper Sandler lifted their price target on shares of Klaviyo from $45.00 to $50.00 and gave the company an “overweight” rating in a research report on Monday, January 6th.

Klaviyo Trading Down 4.2 %

NYSE:KVYO opened at $39.39 on Wednesday. Klaviyo has a 12-month low of $21.26 and a 12-month high of $44.77. The stock’s 50 day simple moving average is $39.24 and its 200-day simple moving average is $33.77. The firm has a market cap of $10.62 billion, a P/E ratio of -218.82 and a beta of 0.57.

Klaviyo (NYSE:KVYO) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.04. The company had revenue of $235.09 million for the quarter, compared to analyst estimates of $226.33 million. Klaviyo had a positive return on equity of 0.86% and a negative net margin of 5.23%. The firm’s revenue for the quarter was up 33.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($1.24) EPS. Research analysts forecast that Klaviyo will post 0.03 EPS for the current fiscal year.

Insider Activity at Klaviyo

In other Klaviyo news, insider Landon Edmond sold 40,000 shares of the stock in a transaction on 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 transaction, the insider now owns 236,621 shares of the company’s stock, valued at $8,177,621.76. This represents a 14.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Amanda Whalen sold 15,000 shares of Klaviyo stock in a transaction on Friday, January 10th. The shares were sold at an average price of $39.18, for a total value of $587,700.00. Following the completion of the sale, the chief financial officer now directly owns 391,820 shares of the company’s stock, valued at approximately $15,351,507.60. This represents a 3.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 172,650 shares of company stock valued at $6,582,805 over the last quarter. Insiders own 53.24% of the company’s stock.

Hedge Funds Weigh In On Klaviyo

A number of hedge funds have recently made changes to their positions in the stock. Whale Rock Capital Management LLC raised its holdings 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 valued at $127,389,000 after buying an additional 3,092,725 shares during the period. Millennium Management LLC grew its position in Klaviyo by 53.6% in the second quarter. Millennium Management LLC now owns 1,120,485 shares of the company’s stock valued at $27,889,000 after acquiring an additional 390,849 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Klaviyo by 45.1% during the third quarter. Geode Capital Management LLC now owns 786,186 shares of the company’s stock valued at $27,827,000 after purchasing an additional 244,447 shares during the period. Mayflower Financial Advisors LLC lifted its position in shares of Klaviyo by 181.4% during the third quarter. Mayflower Financial Advisors LLC now owns 684,948 shares of the company’s stock worth $24,233,000 after purchasing an additional 441,500 shares in the last quarter. Finally, Two Sigma Advisers LP boosted its stake in shares of Klaviyo by 121.5% in the third quarter. Two Sigma Advisers LP now owns 673,500 shares of the company’s stock valued at $23,828,000 after purchasing an additional 369,400 shares during the period. Institutional investors and hedge funds own 45.43% of the company’s stock.

About Klaviyo

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.