Truist Financial Cuts Klaviyo (NYSE:KVYO) Price Target to $40.00

Klaviyo (NYSE:KVYO) had its price target lowered by Truist Financial from $55.00 to $40.00 in a report released on Wednesday, Marketbeat.com reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s price objective would suggest a potential upside of 55.67% from the company’s current price.

KVYO has been the topic of several other reports. Wells Fargo & Company dropped their price objective on shares of Klaviyo from $48.00 to $45.00 and set an “equal weight” rating on the stock in a report on Thursday, February 20th. Citigroup raised their price objective on shares of Klaviyo from $39.00 to $48.00 and gave the stock a “neutral” rating in a report on Tuesday, February 11th. Barclays boosted their target price on shares of Klaviyo from $47.00 to $51.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Cantor Fitzgerald raised their price target on Klaviyo from $47.00 to $54.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Finally, Stifel Nicolaus boosted their price objective on Klaviyo from $45.00 to $54.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $47.89.

Klaviyo Stock Down 1.0 %

Shares of KVYO stock opened at $25.70 on Wednesday. Klaviyo has a 12-month low of $21.26 and a 12-month high of $49.55. The company has a 50 day moving average of $34.87 and a 200-day moving average of $38.09. The firm has a market cap of $7.02 billion, a P/E ratio of -142.75 and a beta of 1.39.

Klaviyo (NYSE:KVYO) last released its earnings results on Wednesday, February 19th. The company reported ($0.06) earnings per share (EPS) 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 firm had revenue of $270.16 million during the quarter, compared to analysts’ expectations of $257.24 million. As a group, equities analysts expect that Klaviyo will post 0.04 EPS for the current year.

Insider Activity

In other news, major shareholder Jeff Fagnan bought 3,900 shares of the business’s stock in a transaction on Wednesday, April 9th. The stock was acquired at an average price of $25.77 per share, with a total value of $100,503.00. Following the completion of the purchase, the insider now directly owns 3,900 shares in the company, valued at $100,503. This represents a ? increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Summit Partners L. P sold 2,000,000 shares of Klaviyo stock in a transaction that occurred 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 2,088,770 shares of company stock worth $67,947,356. 53.24% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Klaviyo

A number of institutional investors have recently made changes to their positions in the business. Bank Julius Baer & Co. Ltd Zurich lifted its stake in Klaviyo by 8.0% in 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 during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Klaviyo by 10.3% in the fourth 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 stake in shares of Klaviyo by 4.0% in the 4th quarter. Arizona State Retirement System now owns 16,854 shares of the company’s stock valued at $695,000 after acquiring an additional 648 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Klaviyo by 5.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 14,285 shares of the company’s stock valued at $589,000 after acquiring an additional 677 shares during the period. Finally, Tower Research Capital LLC TRC grew its position in Klaviyo by 77.5% during the 4th 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 during the last quarter. Hedge funds and other institutional investors 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.