Klaviyo (NYSE:KVYO) Price Target Raised to $52.00 at Mizuho

Klaviyo (NYSE:KVYO) had its target price increased by Mizuho from $42.00 to $52.00 in a research report released on Thursday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Other equities analysts also recently issued reports about the stock. Robert W. Baird boosted their target price on shares of Klaviyo from $52.00 to $54.00 and gave the stock an “outperform” rating in a research note on Thursday. Citigroup boosted their price objective on shares of Klaviyo from $39.00 to $48.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 11th. William Blair reiterated an “outperform” rating on shares of Klaviyo in a research report on Thursday, December 19th. Macquarie reissued a “neutral” rating and issued a $36.00 target price on shares of Klaviyo in a research note on Friday, November 8th. Finally, Loop Capital upped their price target on Klaviyo from $45.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, December 23rd. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Klaviyo has a consensus rating of “Moderate Buy” and an average price target of $49.44.

Klaviyo Trading Down 5.6 %

NYSE:KVYO opened at $41.79 on Thursday. The stock has a market capitalization of $11.27 billion, a P/E ratio of -232.14 and a beta of 0.60. Klaviyo has a 1 year low of $21.26 and a 1 year high of $49.55. The firm has a 50 day moving average of $43.72 and a 200-day moving average of $38.04.

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

Insiders Place Their Bets

In other Klaviyo news, 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 transaction of $1,672,000.00. Following the sale, the insider now directly owns 298,607 shares in the company, valued at approximately $12,481,772.60. This trade represents a 11.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Amanda Whalen sold 15,000 shares of Klaviyo stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $45.85, for a total transaction of $687,750.00. Following the completion of the transaction, the chief financial officer now directly owns 376,820 shares in the company, valued at approximately $17,277,197. The trade was a 3.83 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 114,536 shares of company stock worth $4,720,953. Company insiders own 53.24% of the company’s stock.

Institutional Investors Weigh In On Klaviyo

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in Klaviyo by 9.1% during the 4th quarter. Vanguard Group Inc. now owns 7,721,855 shares of the company’s stock worth $318,449,000 after purchasing an additional 646,628 shares in the last quarter. Whale Rock Capital Management LLC boosted its position in shares of Klaviyo by 7.4% during the fourth quarter. Whale Rock Capital Management LLC now owns 3,868,451 shares of the company’s stock worth $159,535,000 after buying an additional 267,845 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Klaviyo by 5.0% during the fourth quarter. Bank of New York Mellon Corp now owns 2,926,187 shares of the company’s stock worth $120,676,000 after buying an additional 140,127 shares in the last quarter. Clearbridge Investments LLC raised its position in Klaviyo by 0.9% in the 4th quarter. Clearbridge Investments LLC now owns 2,168,336 shares of the company’s stock valued at $89,422,000 after buying an additional 19,567 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in Klaviyo by 48.6% in the 4th quarter. Franklin Resources Inc. now owns 1,943,523 shares of the company’s stock valued at $80,151,000 after acquiring an additional 635,962 shares in the last quarter. 45.43% of the stock is currently 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.