Jefferies Financial Group Upgrades Klaviyo (NYSE:KVYO) to Strong-Buy

Klaviyo (NYSE:KVYO) was upgraded by analysts at Jefferies Financial Group to a “strong-buy” rating in a report issued on Wednesday,Zacks.com reports.

Other equities analysts have also recently issued reports about the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $45.00 price objective on shares of Klaviyo in a research note on Friday, September 26th. Piper Sandler reissued an “overweight” rating and issued a $50.00 price target (down previously from $55.00) on shares of Klaviyo in a research note on Friday, September 26th. Zacks Research raised Klaviyo to a “strong sell” rating in a research note on Friday, August 8th. Macquarie reiterated a “neutral” rating and issued a $37.00 price objective on shares of Klaviyo in a report on Wednesday, August 6th. Finally, Stephens reduced their target price on Klaviyo from $45.00 to $43.00 and set an “overweight” rating on the stock in a report on Friday, September 26th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $43.71.

Klaviyo Stock Down 0.6%

Shares of KVYO stock opened at $26.16 on Wednesday. The firm has a market cap of $7.85 billion, a price-to-earnings ratio of -104.62 and a beta of 1.26. Klaviyo has a 12 month low of $23.44 and a 12 month high of $49.55. The stock has a 50-day moving average price of $29.89 and a 200 day moving average price of $31.26.

Klaviyo (NYSE:KVYO) last released its earnings results on Thursday, September 25th. The company reported $0.16 earnings per share (EPS) for the quarter. Klaviyo had a negative net margin of 6.19% and a negative return on equity of 1.12%. The company had revenue of $293.12 million for the quarter. Sell-side analysts predict that Klaviyo will post 0.04 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Andrew Bialecki sold 226,702 shares of Klaviyo stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $31.50, for a total transaction of $7,141,113.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Ed Hallen sold 89,748 shares of the stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $31.71, for a total value of $2,845,909.08. Following the sale, the director directly owned 177,776 shares of the company’s stock, valued at approximately $5,637,276.96. The trade was a 33.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,741,781 shares of company stock worth $180,719,288. Corporate insiders own 49.92% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Klaviyo by 9.7% during the first quarter. Vanguard Group Inc. now owns 8,467,933 shares of the company’s stock worth $256,240,000 after acquiring an additional 746,078 shares during the period. Encompass More Asset Management bought a new position in Klaviyo during the 1st quarter worth about $549,000. Raymond James Financial Inc. increased its holdings in Klaviyo by 85.4% during the 1st quarter. Raymond James Financial Inc. now owns 545,159 shares of the company’s stock worth $16,497,000 after purchasing an additional 251,104 shares in the last quarter. WCM Investment Management LLC raised its stake in shares of Klaviyo by 27.7% in the 1st quarter. WCM Investment Management LLC now owns 390,119 shares of the company’s stock valued at $12,101,000 after purchasing an additional 84,715 shares during the period. Finally, Jump Financial LLC bought a new stake in shares of Klaviyo in the first quarter valued at about $3,249,000. 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.