Klaviyo (NYSE:KVYO) Now Covered by Analysts at Stephens

Stephens began coverage on shares of Klaviyo (NYSE:KVYO) in a research note published on Wednesday morning, MarketBeat Ratings reports. The firm issued an overweight rating and a $43.00 price objective on the stock.

KVYO has been the subject of several other reports. Robert W. Baird boosted their price objective on Klaviyo from $52.00 to $54.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Benchmark boosted their price target on Klaviyo from $40.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Stifel Nicolaus raised their price objective on Klaviyo from $45.00 to $54.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Canaccord Genuity Group upped their target price on shares of Klaviyo from $40.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Finally, Needham & Company LLC raised their price target on shares of Klaviyo from $46.00 to $56.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, Klaviyo has a consensus rating of “Moderate Buy” and an average target price of $49.11.

Klaviyo Price Performance

Shares of NYSE:KVYO opened at $32.81 on Wednesday. The firm has a market capitalization of $8.96 billion, a price-to-earnings ratio of -182.25 and a beta of 0.86. The business’s 50 day moving average price is $41.52 and its 200-day moving average price is $38.68. Klaviyo has a 1 year low of $21.26 and a 1 year high of $49.55.

Klaviyo (NYSE:KVYO) last announced its earnings results 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 company had revenue of $270.16 million during the quarter, compared to analyst estimates of $257.24 million. Klaviyo had a negative net margin of 4.92% and a positive return on equity of 0.89%. On average, sell-side analysts expect that Klaviyo will post 0.04 earnings per share for the current year.

Insider Transactions at Klaviyo

In other news, major shareholder Summit Partners L. P sold 2,000,000 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $32.44, for a total value of $64,880,000.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Landon Edmond sold 40,000 shares of the stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $41.80, for a total transaction of $1,672,000.00. Following the transaction, the insider now directly owns 298,607 shares of the company’s stock, valued at $12,481,772.60. The trade was a 11.81 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,126,246 shares of company stock worth $69,799,958. 53.24% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Klaviyo

Several institutional investors and hedge funds have recently modified their holdings of the company. Whale Rock Capital Management LLC boosted its holdings in Klaviyo by 608.9% during the 3rd quarter. Whale Rock Capital Management LLC now owns 3,600,606 shares of the company’s stock valued at $127,389,000 after acquiring an additional 3,092,725 shares during the period. Focus Partners Wealth purchased a new position in shares of Klaviyo in the fourth quarter valued at approximately $38,870,000. D. E. Shaw & Co. Inc. grew its holdings in shares of Klaviyo by 195.4% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,310,227 shares of the company’s stock valued at $54,034,000 after purchasing an additional 866,749 shares in the last quarter. Lord Abbett & CO. LLC purchased a new stake in Klaviyo during the 4th quarter worth approximately $30,851,000. Finally, Ameriprise Financial Inc. lifted its holdings in Klaviyo by 229.5% during the 4th quarter. Ameriprise Financial Inc. now owns 982,134 shares of the company’s stock worth $40,507,000 after buying an additional 684,026 shares in 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.