Klaviyo (NYSE:KVYO) Reaches New 12-Month High Following Analyst Upgrade

Klaviyo, Inc. (NYSE:KVYO)’s share price reached a new 52-week high during trading on Monday after KeyCorp raised their price target on the stock from $42.00 to $45.00. KeyCorp currently has an overweight rating on the stock. Klaviyo traded as high as $41.48 and last traded at $41.45, with a volume of 1260827 shares. The stock had previously closed at $39.06.

Other analysts have also recently issued reports about the stock. Stifel Nicolaus started coverage on shares of Klaviyo in a research note on Tuesday, October 22nd. They set a “buy” rating and a $45.00 price target on the stock. Needham & Company LLC increased 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. Canaccord Genuity Group lifted their target price on Klaviyo from $32.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Benchmark cut their price target on Klaviyo from $42.00 to $40.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Finally, Robert W. Baird lifted their price objective on Klaviyo from $42.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Klaviyo currently has a consensus rating of “Moderate Buy” and an average target price of $39.69.

Insider Buying and Selling at Klaviyo

In other Klaviyo news, CFO Amanda Whalen sold 10,000 shares of the business’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $35.36, for a total transaction of $353,600.00. Following the sale, the chief financial officer now directly owns 422,813 shares of the company’s stock, valued at $14,950,667.68. The trade was a 2.31 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, President Stephen Eric Rowland sold 18,114 shares of the firm’s stock in a transaction dated 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 owns 192,488 shares of the company’s stock, valued at $7,158,628.72. The trade was a 8.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 127,650 shares of company stock valued at $4,676,705 in the last 90 days. 53.24% of the stock is currently owned by company insiders.

Institutional Trading of Klaviyo

Several institutional investors and hedge funds have recently bought and sold shares of KVYO. Advisors Asset Management Inc. grew its position in shares of Klaviyo by 145.6% in the 3rd 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 period. nVerses Capital LLC bought a new position in Klaviyo during the third quarter worth about $53,000. West Tower Group LLC acquired a new position in Klaviyo during the third quarter worth approximately $177,000. Victory Capital Management Inc. acquired a new stake in shares of Klaviyo in the third quarter valued at approximately $208,000. Finally, SG Americas Securities LLC acquired a new position in shares of Klaviyo during the 2nd quarter worth approximately $236,000. Institutional investors own 45.43% of the company’s stock.

Klaviyo Stock Performance

The firm has a fifty day simple moving average of $37.69 and a 200-day simple moving average of $31.44. The firm has a market cap of $11.64 billion, a price-to-earnings ratio of -239.89 and a beta of 0.97.

Klaviyo (NYSE:KVYO) last posted its earnings results on Wednesday, November 6th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $226.33 million. During the same quarter last year, the company posted ($1.24) EPS. Klaviyo’s quarterly revenue was up 33.7% compared to the same quarter last year. Analysts expect that Klaviyo, Inc. will post 0.03 earnings per share for the current fiscal year.

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.