Klaviyo (NYSE:KVYO) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

Klaviyo (NYSE:KVYO) had its price target lifted by Needham & Company LLC from $46.00 to $56.00 in a report published on Thursday,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

Several other research analysts have also recently weighed in on the company. Canaccord Genuity Group lifted their price target on Klaviyo from $32.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Piper Sandler lifted their price target on Klaviyo from $45.00 to $50.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Benchmark raised their price objective on Klaviyo from $40.00 to $51.00 and gave the company a “buy” rating in a report on Wednesday. KeyCorp raised their price objective on Klaviyo from $42.00 to $45.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Finally, Wells Fargo & Company raised their price objective on Klaviyo from $41.00 to $48.00 and gave the company an “equal weight” rating in a report on Wednesday, February 12th. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $49.44.

Klaviyo Trading Down 5.9 %

Shares of KVYO stock opened at $44.23 on Thursday. The stock has a 50 day moving average of $43.66 and a 200 day moving average of $37.80. Klaviyo has a twelve month low of $21.26 and a twelve month high of $49.55.

Klaviyo (NYSE:KVYO) last announced 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). The company had revenue of $270.16 million for the quarter, compared to analysts’ expectations of $257.24 million. Klaviyo had a negative net margin of 4.92% and a positive return on equity of 0.90%. On average, equities research analysts forecast that Klaviyo will post 0.04 earnings per share for the current fiscal year.

Insider Transactions at Klaviyo

In other Klaviyo news, CFO Amanda Whalen sold 1,050 shares of the business’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $40.07, for a total transaction of $42,073.50. Following the transaction, the chief financial officer now owns 395,616 shares of the company’s stock, valued at approximately $15,852,333.12. The trade was a 0.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Stephen Eric Rowland sold 4,536 shares of the business’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $40.04, for a total value of $181,621.44. Following the transaction, the president now directly owns 260,403 shares in the company, valued at $10,426,536.12. This trade represents a 1.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 114,536 shares of company stock valued at $4,720,953 over the last ninety days. Insiders own 53.24% of the company’s stock.

Hedge Funds Weigh In On Klaviyo

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Lisanti Capital Growth LLC acquired a new position in Klaviyo during the third quarter worth $5,513,000. Pier 88 Investment Partners LLC purchased a new stake in Klaviyo in the third quarter valued at $966,000. SpiderRock Advisors LLC raised its position in Klaviyo by 1,571.7% in the third quarter. SpiderRock Advisors LLC now owns 501,500 shares of the company’s stock valued at $17,743,000 after purchasing an additional 471,500 shares during the period. Integrated Wealth Concepts LLC purchased a new stake in Klaviyo in the third quarter valued at $5,113,000. Finally, Renaissance Capital LLC raised its position in Klaviyo by 56.4% in the fourth quarter. Renaissance Capital LLC now owns 122,646 shares of the company’s stock valued at $5,058,000 after purchasing an additional 44,245 shares during the period. Institutional investors and hedge funds 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.