Klaviyo (NYSE:KVYO) Price Target Lowered to $40.00 at Mizuho

Klaviyo (NYSE:KVYO) had its price target reduced by Mizuho from $52.00 to $40.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Mizuho’s price target suggests a potential upside of 54.14% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. Needham & Company LLC lifted their price objective on Klaviyo from $46.00 to $56.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Loop Capital lifted their price target on Klaviyo from $45.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, December 23rd. Barclays increased their price objective on Klaviyo from $47.00 to $51.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. William Blair reaffirmed an “outperform” rating on shares of Klaviyo in a research note on Thursday, February 20th. Finally, The Goldman Sachs Group increased their target price on shares of Klaviyo from $45.00 to $51.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $47.89.

Klaviyo Price Performance

Shares of KVYO stock opened at $25.95 on Tuesday. Klaviyo has a 1-year low of $21.26 and a 1-year high of $49.55. The company has a market cap of $7.09 billion, a price-to-earnings ratio of -144.17 and a beta of 1.39. The stock has a 50 day simple moving average of $35.35 and a 200-day simple moving average of $38.16.

Klaviyo (NYSE:KVYO) last posted its quarterly earnings data on Wednesday, February 19th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.12). Klaviyo had a positive return on equity of 0.89% and a negative net margin of 4.92%. The company had revenue of $270.16 million for the quarter, compared to analyst estimates of $257.24 million. Analysts anticipate that Klaviyo will post 0.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Summit Partners L. P sold 2,000,000 shares of the firm’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $32.44, for a total transaction of $64,880,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Jeff Fagnan acquired 3,900 shares of the business’s stock in a transaction that occurred on Wednesday, April 9th. The stock was purchased at an average price of $25.77 per share, for a total transaction of $100,503.00. Following the acquisition, the insider now directly owns 3,900 shares in the company, valued at approximately $100,503. This trade represents a ? increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 2,088,770 shares of company stock valued at $67,947,356. 53.24% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Klaviyo

Several institutional investors have recently bought and sold shares of the company. Bank Julius Baer & Co. Ltd Zurich lifted its position in shares of Klaviyo by 8.0% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,836 shares of the company’s stock worth $220,000 after purchasing an additional 359 shares in the last quarter. Victory Capital Management Inc. increased its stake in Klaviyo by 10.3% during the 4th quarter. Victory Capital Management Inc. now owns 6,469 shares of the company’s stock worth $267,000 after buying an additional 604 shares during the period. Arizona State Retirement System lifted its holdings in Klaviyo by 4.0% during the 4th quarter. Arizona State Retirement System now owns 16,854 shares of the company’s stock worth $695,000 after buying an additional 648 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in Klaviyo by 5.0% in the 4th quarter. The Manufacturers Life Insurance Company now owns 14,285 shares of the company’s stock valued at $589,000 after buying an additional 677 shares during the period. Finally, Tower Research Capital LLC TRC grew its stake in shares of Klaviyo by 77.5% in 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 in the last quarter. 45.43% of the stock is owned by institutional investors and hedge funds.

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.