Klaviyo (NYSE:KVYO) Earns Overweight Rating from Analysts at Stephens

Stephens started coverage on shares of Klaviyo (NYSE:KVYO) in a research report sent to investors on Wednesday morning, Marketbeat reports. The brokerage issued an overweight rating and a $43.00 price objective on the stock.

A number of other research firms have also weighed in on KVYO. Wells Fargo & Company lowered 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. Barclays lifted their price objective on Klaviyo from $47.00 to $51.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. KeyCorp upped their target price on Klaviyo from $42.00 to $45.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Robert W. Baird boosted their target price on shares of Klaviyo from $52.00 to $54.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Finally, The Goldman Sachs Group raised their price target on Klaviyo from $45.00 to $51.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $49.89.

Klaviyo Price Performance

Shares of NYSE:KVYO opened at $32.99 on Wednesday. The firm has a market capitalization of $9.01 billion, a price-to-earnings ratio of -183.30 and a beta of 0.86. The business’s 50 day moving average price is $41.23 and its 200-day moving average price is $38.65. Klaviyo has a 1 year low of $21.26 and a 1 year high of $49.55.

Klaviyo (NYSE:KVYO) last released 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 0.89% and a negative net margin of 4.92%. The company had revenue of $270.16 million for the quarter, compared to analyst estimates of $257.24 million. On average, sell-side analysts expect that Klaviyo will post 0.04 earnings per share for the current year.

Insider Activity

In related news, President Stephen Eric Rowland sold 4,536 shares of the business’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $40.04, for a total transaction of $181,621.44. Following the sale, the president now owns 260,403 shares of the company’s stock, valued at approximately $10,426,536.12. The trade was a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Landon Edmond sold 40,000 shares of Klaviyo stock in a transaction that occurred 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 sale, the insider now owns 298,607 shares of the company’s stock, valued at approximately $12,481,772.60. The trade was a 11.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,126,246 shares of company stock valued at $69,799,958 over the last quarter. Corporate insiders own 53.24% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Whale Rock Capital Management LLC grew its stake in Klaviyo by 608.9% in 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 acquiring an additional 3,092,725 shares during the last quarter. Focus Partners Wealth purchased a new position in shares of Klaviyo during the 4th quarter worth approximately $38,870,000. D. E. Shaw & Co. Inc. lifted its stake in Klaviyo by 195.4% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,310,227 shares of the company’s stock valued at $54,034,000 after buying an additional 866,749 shares in the last quarter. Lord Abbett & CO. LLC acquired a new stake in Klaviyo during the 4th quarter valued at $30,851,000. Finally, Ameriprise Financial Inc. increased its position in Klaviyo by 229.5% during the fourth quarter. Ameriprise Financial Inc. now owns 982,134 shares of the company’s stock worth $40,507,000 after buying an additional 684,026 shares in the last quarter. Hedge funds and other institutional investors 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.