Klaviyo, Inc. (NYSE:KVYO) Receives Average Recommendation of “Moderate Buy” from Analysts

Klaviyo, Inc. (NYSE:KVYO) has been given a consensus recommendation of “Moderate Buy” by the eighteen analysts that are covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $39.00.

A number of brokerages have weighed in on KVYO. Stifel Nicolaus assumed coverage on Klaviyo in a research report on Tuesday, October 22nd. They issued a “buy” rating and a $45.00 price target on the stock. Robert W. Baird increased their target price on shares of Klaviyo from $42.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. KeyCorp upgraded shares of Klaviyo from a “sector weight” rating to an “overweight” rating and set a $33.00 price target on the stock in a research report on Thursday, August 8th. Macquarie reaffirmed a “neutral” rating and set a $36.00 price objective on shares of Klaviyo in a report on Friday, November 8th. Finally, Piper Sandler boosted their target price on Klaviyo from $34.00 to $45.00 and gave the stock an “overweight” rating in a report on Friday, October 18th.

Insider Activity

In other news, CFO Amanda Whalen sold 10,000 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $29.72, for a total value of $297,200.00. Following the transaction, the chief financial officer now directly owns 422,813 shares in the company, valued at $12,566,002.36. This trade represents a 2.31 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Allen Chaves sold 130,000 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $31.85, for a total value of $4,140,500.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 398,996 shares of company stock valued at $12,753,416. 53.24% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Whale Rock Capital Management LLC raised its holdings in Klaviyo by 608.9% in the third quarter. Whale Rock Capital Management LLC now owns 3,600,606 shares of the company’s stock worth $127,389,000 after purchasing an additional 3,092,725 shares during the period. Bank of New York Mellon Corp lifted its holdings in Klaviyo by 677.7% during the second quarter. Bank of New York Mellon Corp now owns 2,762,128 shares of the company’s stock worth $68,749,000 after acquiring an additional 2,406,973 shares in the last quarter. Clearbridge Investments LLC grew its stake in Klaviyo by 1.5% in the first quarter. Clearbridge Investments LLC now owns 2,205,684 shares of the company’s stock valued at $56,201,000 after acquiring an additional 31,587 shares during the period. Glynn Capital Management LLC increased its holdings in shares of Klaviyo by 19.7% in the second quarter. Glynn Capital Management LLC now owns 1,363,768 shares of the company’s stock worth $33,944,000 after acquiring an additional 224,461 shares in the last quarter. Finally, Claro Advisors LLC raised its position in shares of Klaviyo by 38.7% during the second quarter. Claro Advisors LLC now owns 1,280,035 shares of the company’s stock worth $31,860,000 after purchasing an additional 357,355 shares during the period. Institutional investors own 45.43% of the company’s stock.

Klaviyo Stock Performance

NYSE:KVYO opened at $34.79 on Tuesday. The company has a 50-day moving average of $35.87 and a 200-day moving average of $29.29. Klaviyo has a 52 week low of $21.26 and a 52 week high of $41.00. The company has a market capitalization of $9.28 billion, a price-to-earnings ratio of -193.24 and a beta of 1.13.

Klaviyo (NYSE:KVYO) last released 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. Klaviyo had a positive return on equity of 0.86% and a negative net margin of 5.23%. The company had revenue of $235.09 million for the quarter, compared to the consensus estimate of $226.33 million. During the same period in the previous year, the business earned ($1.24) earnings per share. The company’s quarterly revenue was up 33.7% on a year-over-year basis. Sell-side analysts forecast that Klaviyo will post 0.03 EPS for the current year.

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.