Piper Sandler Issues Positive Forecast for Klaviyo (NYSE:KVYO) Stock Price

Klaviyo (NYSE:KVYO) had its price objective increased by Piper Sandler from $45.00 to $50.00 in a research report sent to investors on Monday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

A number of other research firms have also recently commented on KVYO. Cantor Fitzgerald boosted their target price on shares of Klaviyo from $33.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Stifel Nicolaus started coverage on shares of Klaviyo in a report on Tuesday, October 22nd. They issued a “buy” rating and a $45.00 price objective on the stock. Loop Capital raised their target price on Klaviyo from $45.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, December 23rd. Wells Fargo & Company reiterated a “buy” rating on shares of Klaviyo in a research note on Friday, October 18th. Finally, Benchmark lowered their price objective on Klaviyo from $42.00 to $40.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Four equities 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, Klaviyo currently has a consensus rating of “Moderate Buy” and an average price target of $41.41.

Klaviyo Trading Down 1.8 %

Shares of Klaviyo stock opened at $40.98 on Monday. The company has a fifty day moving average price of $39.19 and a 200 day moving average price of $33.60. Klaviyo has a twelve month low of $21.26 and a twelve month high of $44.77. The stock has a market cap of $11.05 billion, a price-to-earnings ratio of -227.65 and a beta of 0.57.

Klaviyo (NYSE:KVYO) last issued its earnings results on Wednesday, November 6th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.04. The company had revenue of $235.09 million during the quarter, compared to the consensus estimate of $226.33 million. Klaviyo had a positive return on equity of 0.86% and a negative net margin of 5.23%. The company’s revenue was up 33.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.24) earnings per share. Analysts forecast that Klaviyo will post 0.03 earnings per share for the current year.

Insider Transactions at Klaviyo

In other Klaviyo news, insider Landon Edmond sold 40,000 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $34.56, for a total transaction of $1,382,400.00. Following the completion of the transaction, the insider now directly owns 236,621 shares of the company’s stock, valued at approximately $8,177,621.76. This trade represents a 14.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Amanda Whalen sold 15,000 shares of Klaviyo stock in a transaction on Friday, December 13th. The shares were sold at an average price of $39.39, for a total value of $590,850.00. Following the transaction, the chief financial officer now owns 391,820 shares in the company, valued at approximately $15,433,789.80. This trade represents a 3.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 117,650 shares of company stock valued at $4,323,105. 53.24% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Advisors Asset Management Inc. lifted its holdings in Klaviyo by 145.6% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company’s stock valued at $48,000 after acquiring an additional 808 shares during the last quarter. nVerses Capital LLC acquired a new stake in Klaviyo during the third quarter valued at approximately $53,000. West Tower Group LLC bought a new stake in Klaviyo during the third quarter worth approximately $177,000. Victory Capital Management Inc. acquired a new position in Klaviyo in the third quarter worth approximately $208,000. Finally, William Marsh Rice University bought a new position in shares of Klaviyo in the third quarter valued at $245,000. 45.43% of the stock is owned by institutional investors and hedge funds.

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.