Cantor Fitzgerald Cuts Klaviyo (NYSE:KVYO) Price Target to $40.00

Klaviyo (NYSE:KVYO) had its price target reduced by Cantor Fitzgerald from $48.00 to $40.00 in a report released on Wednesday, Marketbeat reports. They currently have an overweight rating on the stock.

Several other analysts have also issued reports on KVYO. Jefferies Financial Group raised Klaviyo to a “strong-buy” rating in a report on Wednesday, October 22nd. Needham & Company LLC reissued a “buy” rating and set a $45.00 price target on shares of Klaviyo in a report on Friday, September 26th. TD Cowen boosted their price target on Klaviyo from $45.00 to $46.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. Robert W. Baird cut their price target on Klaviyo from $44.00 to $39.00 and set an “outperform” rating for the company in a report on Friday, September 26th. Finally, Zacks Research raised Klaviyo to a “strong sell” rating in a report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $43.33.

Klaviyo Stock Performance

NYSE:KVYO opened at $26.04 on Wednesday. The stock has a 50-day simple moving average of $29.16 and a two-hundred day simple moving average of $31.23. Klaviyo has a 52-week low of $23.44 and a 52-week high of $49.55. The firm has a market capitalization of $7.81 billion, a PE ratio of -104.14 and a beta of 1.26.

Klaviyo (NYSE:KVYO) last released its quarterly earnings results on Thursday, September 25th. The company reported $0.16 earnings per share (EPS) for the quarter. Klaviyo had a negative return on equity of 1.12% and a negative net margin of 6.19%.The business had revenue of $293.12 million during the quarter. Equities analysts forecast that Klaviyo will post 0.04 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Summit Partners L. P sold 4,000,000 shares of the business’s stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $31.87, for a total value of $127,480,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Ed Hallen sold 89,748 shares of the business’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $31.71, for a total value of $2,845,909.08. Following the completion of the transaction, the director owned 177,776 shares in the company, valued at $5,637,276.96. The trade was a 33.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 5,741,781 shares of company stock worth $180,719,288 over the last ninety days. Corporate insiders own 49.92% of the company’s stock.

Institutional Investors Weigh In On Klaviyo

Hedge funds have recently made changes to their positions in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in shares of Klaviyo in the second quarter worth about $31,000. CWM LLC lifted its position in shares of Klaviyo by 227.5% in the first quarter. CWM LLC now owns 930 shares of the company’s stock worth $28,000 after buying an additional 646 shares in the last quarter. First Horizon Advisors Inc. purchased a new stake in shares of Klaviyo in the second quarter worth about $37,000. State of Wyoming purchased a new stake in shares of Klaviyo in the first quarter worth about $42,000. Finally, Caitong International Asset Management Co. Ltd lifted its position in shares of Klaviyo by 217.9% in the first quarter. Caitong International Asset Management Co. Ltd now owns 1,421 shares of the company’s stock worth $43,000 after buying an additional 974 shares in the last quarter. 45.43% of the stock is currently owned by hedge funds and other institutional investors.

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.