Klaviyo (NYSE:KVYO) Price Target Raised to $50.00

Klaviyo (NYSE:KVYO) had its price objective boosted by equities researchers at Morgan Stanley from $47.00 to $50.00 in a report issued on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price target would suggest a potential upside of 17.99% from the company’s previous close.

Several other research analysts have also recently issued reports on KVYO. Benchmark upped their price objective on Klaviyo from $40.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday. Wells Fargo & Company lowered their price objective on Klaviyo from $48.00 to $45.00 and set an “equal weight” rating for the company in a research report on Thursday. KeyCorp upped their price objective on Klaviyo from $42.00 to $45.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Macquarie reaffirmed a “neutral” rating and set a $36.00 price objective on shares of Klaviyo in a research report on Friday, November 8th. Finally, Cantor Fitzgerald upped their target price on Klaviyo from $47.00 to $54.00 and gave the company an “overweight” rating in a research report on Thursday. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Klaviyo presently has an average rating of “Moderate Buy” and a consensus price target of $46.65.

Klaviyo Stock Down 9.8 %

NYSE KVYO traded down $4.63 during trading hours on Thursday, hitting $42.38. 1,801,239 shares of the company were exchanged, compared to its average volume of 1,146,907. The company has a 50 day moving average of $43.56 and a two-hundred day moving average of $37.75. Klaviyo has a 52-week low of $21.26 and a 52-week high of $49.55. The firm has a market cap of $11.43 billion, a price-to-earnings ratio of -236.11 and a beta of 0.60.

Klaviyo (NYSE:KVYO) last issued its quarterly 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). Klaviyo had a positive return on equity of 0.86% and a negative net margin of 5.23%. The company had revenue of $270.16 million for the quarter, compared to analysts’ expectations of $257.24 million. On average, equities research analysts predict that Klaviyo will post 0.03 EPS for the current year.

Insider Buying and Selling at Klaviyo

In related news, CFO Amanda Whalen sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $39.18, for a total value of $587,700.00. Following the completion of the transaction, the chief financial officer now directly owns 391,820 shares of the company’s stock, valued at $15,351,507.60. This trade represents a 3.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Landon Edmond sold 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $41.80, for a total value of $1,672,000.00. Following the completion of the transaction, the insider now directly owns 298,607 shares of the company’s stock, valued at $12,481,772.60. The trade was a 11.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 114,536 shares of company stock valued at $4,720,953 in the last ninety days. Insiders own 53.24% of the company’s stock.

Institutional Investors Weigh In On Klaviyo

Large investors have recently bought and sold shares of the stock. Lisanti Capital Growth LLC acquired a new stake in Klaviyo during the 3rd quarter valued at $5,513,000. Pier 88 Investment Partners LLC acquired a new stake in Klaviyo during the 3rd quarter valued at $966,000. SpiderRock Advisors LLC grew its holdings in Klaviyo by 1,571.7% during the 3rd quarter. SpiderRock Advisors LLC now owns 501,500 shares of the company’s stock valued at $17,743,000 after buying an additional 471,500 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new stake in Klaviyo during the 3rd quarter valued at $5,113,000. Finally, Renaissance Capital LLC grew its holdings in Klaviyo by 56.4% during the 4th quarter. Renaissance Capital LLC now owns 122,646 shares of the company’s stock valued at $5,058,000 after buying an additional 44,245 shares during the last quarter. Institutional investors and hedge funds own 45.43% of the company’s stock.

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.