Klaviyo (NYSE:KVYO) Price Target Raised to $41.00

Klaviyo (NYSE:KVYO) had its price objective increased by Wells Fargo & Company from $37.00 to $41.00 in a research note published on Tuesday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

A number of other equities analysts also recently issued reports on the company. Piper Sandler upped their price target on Klaviyo from $45.00 to $50.00 and gave the company an “overweight” rating in a report on Monday. KeyCorp increased their target price on shares of Klaviyo from $42.00 to $45.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Barclays lifted 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. William Blair restated an “outperform” rating on shares of Klaviyo in a research note on Thursday, December 19th. Finally, Canaccord Genuity Group lifted their target price on Klaviyo from $32.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $41.41.

Klaviyo Stock Down 1.8 %

Shares of NYSE:KVYO opened at $40.98 on Tuesday. Klaviyo has a fifty-two week low of $21.26 and a fifty-two week high of $44.77. The firm’s 50 day moving average price is $39.24 and its 200 day moving average price is $33.65. The stock has a market cap of $11.05 billion, a price-to-earnings ratio of -227.65 and a beta of 0.57.

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

Insider Buying and Selling at Klaviyo

In other news, CFO Amanda Whalen sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $34.56, for a total value of $518,400.00. Following the completion of the sale, the chief financial officer now directly owns 395,616 shares of the company’s stock, valued at $13,672,488.96. This trade represents a 3.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Stephen Eric Rowland sold 18,114 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $37.19, for a total value of $673,659.66. Following the transaction, the president now directly owns 192,488 shares in the company, valued at $7,158,628.72. This represents a 8.60 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 117,650 shares of company stock valued at $4,323,105. 53.24% of the stock is owned by company insiders.

Institutional Trading of Klaviyo

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Whale Rock Capital Management LLC increased 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 valued at $127,389,000 after buying an additional 3,092,725 shares in the last quarter. Millennium Management LLC grew its holdings in shares of 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 acquiring an additional 390,849 shares during the period. Geode Capital Management LLC increased its stake in Klaviyo by 45.1% in the 3rd 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 in the last quarter. Mayflower Financial Advisors LLC raised its holdings in 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 during the last quarter. Finally, Two Sigma Advisers LP boosted its position in Klaviyo by 121.5% during the third quarter. Two Sigma Advisers LP now owns 673,500 shares of the company’s stock worth $23,828,000 after purchasing an additional 369,400 shares in the last quarter. 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.