Klaviyo (NYSE:KVYO) Coverage Initiated at Cantor Fitzgerald

Equities research analysts at Cantor Fitzgerald began coverage on shares of Klaviyo (NYSE:KVYO) in a research note issued to investors on Tuesday, MarketBeat reports. The firm set an “overweight” rating and a $31.00 price target on the stock. Cantor Fitzgerald’s target price would suggest a potential upside of 33.10% from the stock’s current price.

Other equities analysts also recently issued reports about the stock. Morgan Stanley cut their price target on shares of Klaviyo from $38.00 to $37.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 28th. FBN Securities began coverage on shares of Klaviyo in a report on Wednesday, March 20th. They set an “outperform” rating and a $35.00 price target on the stock. Needham & Company LLC reiterated a “buy” rating and set a $40.00 price target on shares of Klaviyo in a report on Wednesday, February 28th. The Goldman Sachs Group upgraded shares of Klaviyo from a “neutral” rating to a “buy” rating and set a $36.00 price target on the stock in a report on Monday, February 5th. Finally, William Blair reiterated an “outperform” rating on shares of Klaviyo in a report on Wednesday, February 28th. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.88.

Klaviyo Stock Performance

Klaviyo stock opened at $23.29 on Tuesday. The company’s 50-day moving average price is $26.34 and its 200-day moving average price is $27.79. Klaviyo has a twelve month low of $22.82 and a twelve month high of $39.47.

Klaviyo (NYSE:KVYO) last posted its earnings results on Tuesday, February 27th. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. The business had revenue of $201.62 million during the quarter, compared to the consensus estimate of $196.02 million. As a group, equities analysts forecast that Klaviyo will post -0.27 EPS for the current year.

Insider Transactions at Klaviyo

In other news, insider Landon Edmond sold 3,545 shares of the company’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $24.15, for a total value of $85,611.75. Following the completion of the sale, the insider now owns 167,127 shares of the company’s stock, valued at approximately $4,036,117.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Institutional Investors Weigh In On Klaviyo

Several hedge funds have recently modified their holdings of KVYO. Summit Partners L P purchased a new stake in Klaviyo during the third quarter valued at approximately $1,708,162,000. Clearbridge Investments LLC acquired a new position in Klaviyo during the 3rd quarter valued at approximately $64,316,000. JPMorgan Chase & Co. acquired a new position in Klaviyo during the 3rd quarter valued at approximately $52,204,000. Vanguard Group Inc. acquired a new position in Klaviyo during the 3rd quarter valued at approximately $49,833,000. Finally, Goldman Sachs Group Inc. increased its stake in Klaviyo by 243.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,472,140 shares of the company’s stock valued at $40,896,000 after purchasing an additional 1,042,902 shares in the last quarter. Hedge funds and other 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.