Klaviyo (NYSE:KVYO) PT Raised to $45.00

Klaviyo (NYSE:KVYO) had its target price hoisted by Piper Sandler from $34.00 to $45.00 in a research note issued to investors on Friday, Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

Other analysts have also issued reports about the company. Wells Fargo & Company assumed coverage on Klaviyo in a research note on Wednesday, October 16th. They issued an “equal weight” rating and a $37.00 price target on the stock. Benchmark began coverage on shares of Klaviyo in a report on Monday, September 30th. They issued a “buy” rating and a $42.00 price target on the stock. Robert W. Baird lifted their target price on shares of Klaviyo from $35.00 to $42.00 and gave the company an “outperform” rating in a report on Thursday, October 10th. Cantor Fitzgerald increased their price target on Klaviyo from $31.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Finally, Barclays boosted their price objective on Klaviyo from $32.00 to $41.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $36.87.

Klaviyo Stock Performance

KVYO stock opened at $38.01 on Friday. Klaviyo has a 1 year low of $21.26 and a 1 year high of $38.50. The stock’s 50 day moving average price is $33.39 and its 200 day moving average price is $27.30. The firm has a market cap of $10.06 billion and a P/E ratio of -26.96.

Klaviyo (NYSE:KVYO) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.05. The company had revenue of $222.21 million for the quarter, compared to analysts’ expectations of $212.34 million. Klaviyo had a negative net margin of 42.15% and a negative return on equity of 32.19%. The firm’s revenue for the quarter was up 35.0% compared to the same quarter last year. During the same period last year, the company earned $0.09 EPS. On average, research analysts predict that Klaviyo will post -0.01 earnings per share for the current year.

Insider Buying and Selling at Klaviyo

In related news, major shareholder Jeff Fagnan purchased 9,485 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were purchased at an average cost of $26.43 per share, with a total value of $250,688.55. Following the completion of the acquisition, the insider now directly owns 9,485 shares of the company’s stock, valued at approximately $250,688.55. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, major shareholder Jeff Fagnan acquired 9,485 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was purchased at an average cost of $26.43 per share, with a total value of $250,688.55. Following the completion of the acquisition, the insider now directly owns 9,485 shares in the company, valued at $250,688.55. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Summit Partners L. P sold 242,601 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $31.78, for a total value of $7,709,859.78. The disclosure for this sale can be found here. Insiders have sold a total of 871,477 shares of company stock valued at $27,610,861 in the last three months. Corporate insiders own 53.24% of the company’s stock.

Hedge Funds Weigh In On Klaviyo

A number of hedge funds have recently added to or reduced their stakes in KVYO. Goldman Sachs Group Inc. raised its stake in Klaviyo by 243.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,472,140 shares of the company’s stock worth $40,896,000 after acquiring an additional 1,042,902 shares during the period. Salem Investment Counselors Inc. lifted its stake in Klaviyo by 161.1% in the first quarter. Salem Investment Counselors Inc. now owns 2,350 shares of the company’s stock valued at $60,000 after buying an additional 1,450 shares during the last quarter. Claro Advisors LLC acquired a new position in shares of Klaviyo during the first quarter valued at $23,510,000. Mayflower Financial Advisors LLC bought a new position in shares of Klaviyo during the first quarter worth about $6,203,000. Finally, Capstone Investment Advisors LLC increased its holdings in shares of Klaviyo by 17.0% in the 1st quarter. Capstone Investment Advisors LLC now owns 146,368 shares of the company’s stock worth $3,729,000 after acquiring an additional 21,296 shares during the period. 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.