Klaviyo (NYSE:KVYO) Price Target Raised to $54.00

Klaviyo (NYSE:KVYO) had its price target increased by Stifel Nicolaus from $45.00 to $54.00 in a report released on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other research firms also recently weighed in on KVYO. Cantor Fitzgerald lifted their target price on shares of Klaviyo from $47.00 to $54.00 and gave the stock an “overweight” rating in a research report on Thursday. Piper Sandler lifted their target price on shares of Klaviyo from $50.00 to $53.00 and gave the stock an “overweight” rating in a research report on Thursday. Morgan Stanley lifted their target price on shares of Klaviyo from $47.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Thursday. Wells Fargo & Company decreased their price target on shares of Klaviyo from $48.00 to $45.00 and set an “equal weight” rating for the company in a report on Thursday. Finally, Needham & Company LLC raised their price target on shares of Klaviyo from $46.00 to $56.00 and gave the stock a “buy” rating in a report on Thursday. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Klaviyo presently has an average rating of “Moderate Buy” and a consensus target price of $49.44.

Klaviyo Price Performance

Shares of KVYO opened at $41.79 on Thursday. The firm’s 50 day moving average is $43.72 and its 200-day moving average is $38.04. The stock has a market capitalization of $11.27 billion, a P/E ratio of -232.14 and a beta of 0.60. Klaviyo has a 12-month low of $21.26 and a 12-month high of $49.55.

Klaviyo (NYSE:KVYO) last released its 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). The firm had revenue of $270.16 million during the quarter, compared to analysts’ expectations of $257.24 million. Klaviyo had a positive return on equity of 0.89% and a negative net margin of 4.92%. As a group, equities research analysts forecast that Klaviyo will post 0.04 EPS for the current fiscal year.

Insider Buying and Selling at Klaviyo

In other news, President Stephen Eric Rowland sold 4,536 shares of Klaviyo stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $40.04, for a total value of $181,621.44. Following the transaction, the president now owns 260,403 shares of the company’s stock, valued at $10,426,536.12. This trade represents a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Amanda Whalen sold 15,000 shares of Klaviyo stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $45.85, for a total transaction of $687,750.00. Following the completion of the transaction, the chief financial officer now directly owns 376,820 shares in the company, valued at approximately $17,277,197. This represents a 3.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 114,536 shares of company stock worth $4,720,953 over the last ninety days. 53.24% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Klaviyo

A number of institutional investors have recently modified their holdings of KVYO. Advisors Asset Management Inc. raised its position in shares of Klaviyo by 145.6% in the third quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company’s stock valued at $48,000 after purchasing an additional 808 shares during the period. CIBC Private Wealth Group LLC increased its position in Klaviyo by 169.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,752 shares of the company’s stock worth $72,000 after acquiring an additional 1,102 shares during the period. Tower Research Capital LLC TRC increased its position in Klaviyo by 77.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,874 shares of the company’s stock worth $77,000 after acquiring an additional 818 shares during the period. West Tower Group LLC bought a new position in Klaviyo during the third quarter worth $177,000. Finally, SBI Securities Co. Ltd. bought a new position in Klaviyo during the fourth quarter worth $196,000. Institutional investors own 45.43% of the company’s stock.

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.