Klaviyo (NYSE:KVYO) Upgraded to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Klaviyo (NYSE:KVYO) from a hold rating to a buy rating in a research report released on Saturday,Wall Street Zen reports.

Other research analysts have also issued reports about the stock. Piper Sandler reduced their price target on shares of Klaviyo from $26.00 to $23.00 and set an “overweight” rating for the company in a research report on Thursday, August 6th. Stephens increased their price objective on Klaviyo from $24.00 to $25.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Wells Fargo & Company lifted their price objective on Klaviyo from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Wednesday, October 28th. Canaccord Genuity Group dropped their price objective on Klaviyo from $32.00 to $29.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Finally, Mizuho set a $24.00 target price on Klaviyo in a research report on Thursday. Sixteen equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $27.02.

Klaviyo Trading Down 0.5%

KVYO stock opened at $20.70 on Friday. The firm has a 50 day moving average of $18.10 and a 200-day moving average of $17.97. The firm has a market capitalization of $5.89 billion, a P/E ratio of 1,035.57 and a beta of 0.50. Klaviyo has a 12 month low of $12.53 and a 12 month high of $33.35.

Klaviyo (NYSE:KVYO) last posted its earnings results on Wednesday, November 4th. The company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.05. Klaviyo had a net margin of 0.54% and a return on equity of 6.73%. The business had revenue of $387.21 million for the quarter, compared to analyst estimates of $380.02 million. During the same quarter in the prior year, the firm posted $0.18 EPS. Klaviyo’s revenue was up 24.5% on a year-over-year basis. Sell-side analysts predict that Klaviyo will post 0.22 EPS for the current year.

Insider Buying and Selling at Klaviyo

In other news, Director Ed Hallen sold 98,782 shares of the business’s stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $20.48, for a total value of $2,023,055.36. Following the completion of the sale, the director directly owned 94,457 shares in the company, valued at approximately $1,934,479.36. The trade was a 51.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Summit Partners L. P sold 5,000,000 shares of the company’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $17.71, for a total transaction of $88,550,000.00. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 5,275,468 shares of company stock valued at $93,822,653. 37.42% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Klaviyo

Large investors have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. increased its stake in Klaviyo by 116.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 23,978 shares of the company’s stock worth $377,000 after purchasing an additional 12,897 shares during the period. Illinois Municipal Retirement Fund bought a new stake in Klaviyo in the third quarter valued at approximately $1,588,000. Fulcrum Asset Management LLP bought a new stake in Klaviyo in the third quarter valued at approximately $1,849,000. Parallel Advisors LLC lifted its position in Klaviyo by 30.1% in the third quarter. Parallel Advisors LLC now owns 2,276 shares of the company’s stock valued at $36,000 after purchasing an additional 526 shares during the last quarter. Finally, CenterBook Partners LP purchased a new stake in shares of Klaviyo during the third quarter valued at approximately $378,000. Hedge funds and other institutional investors own 45.43% of the company’s stock.

About Klaviyo

Klaviyo, Inc (NYSE: KVYO) provides a customer data and marketing automation platform designed primarily for businesses that sell online. Its software helps organizations collect, organize and analyze customer information, then use those insights to create personalized marketing and customer engagement campaigns.

The company’s platform supports communication across channels including email, SMS and mobile push notifications. Its products provide tools for audience segmentation, campaign orchestration, automation, analytics and reporting, with capabilities intended to help businesses improve customer acquisition, engagement and retention.