Klaviyo (NYSE:KVYO) Coverage Initiated by Analysts at Weiss Ratings

Stock analysts at Weiss Ratings began coverage on shares of Klaviyo (NYSE:KVYO) in a research report issued on Saturday,Weiss Ratings reports. The brokerage set a “sell (d-)” rating on the stock.

A number of other analysts have also recently commented on the stock. Citigroup upgraded shares of Klaviyo from a “neutral” rating to a “buy” rating and upped their price target for the stock from $40.00 to $50.00 in a research report on Thursday, August 7th. Stifel Nicolaus reduced their price objective on Klaviyo from $45.00 to $40.00 and set a “buy” rating for the company in a research note on Tuesday, July 15th. Morgan Stanley raised shares of Klaviyo from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $40.00 to $50.00 in a report on Friday, September 19th. Zacks Research raised shares of Klaviyo to a “strong sell” rating in a report on Friday, August 8th. Finally, Robert W. Baird decreased their target price on shares of Klaviyo from $44.00 to $39.00 and set an “outperform” rating on the stock in a research note on Friday, September 26th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $43.33.

Klaviyo Stock Performance

Shares of Klaviyo stock traded up $0.16 on Friday, hitting $26.16. The company’s stock had a trading volume of 1,082,360 shares, compared to its average volume of 2,125,796. Klaviyo has a 1 year low of $23.44 and a 1 year high of $49.55. The firm has a fifty day moving average price of $29.16 and a 200-day moving average price of $31.30. The company has a market capitalization of $7.85 billion, a price-to-earnings ratio of -104.50 and a beta of 1.26.

Klaviyo (NYSE:KVYO) last posted its quarterly earnings data on Thursday, September 25th. The company reported $0.16 EPS for the quarter. The business had revenue of $293.12 million during the quarter. Klaviyo had a negative return on equity of 1.12% and a negative net margin of 6.19%. As a group, analysts forecast that Klaviyo will post 0.04 EPS for the current year.

Insider Transactions at Klaviyo

In other news, CFO Amanda Whalen sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, October 10th. The shares were sold at an average price of $25.03, for a total value of $375,450.00. Following the sale, the chief financial officer directly owned 481,719 shares of the company’s stock, valued at approximately $12,057,426.57. The trade was a 3.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Stephen Eric Rowland sold 7,105 shares of the business’s stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $24.35, for a total value of $173,006.75. Following the completion of the sale, the president directly owned 431,516 shares in the company, valued at approximately $10,507,414.60. The trade was a 1.62% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 5,741,781 shares of company stock worth $180,719,288 in the last 90 days. Insiders own 53.24% of the company’s stock.

Institutional Investors Weigh In On Klaviyo

Several institutional investors and hedge funds have recently modified their holdings of KVYO. Cooper Creek Partners Management LLC purchased a new stake in shares of Klaviyo in the 2nd quarter valued at $57,109,000. Norges Bank purchased a new stake in Klaviyo during the second quarter worth about $52,629,000. American Century Companies Inc. increased its stake in Klaviyo by 123.4% during the second quarter. American Century Companies Inc. now owns 2,685,480 shares of the company’s stock worth $90,178,000 after purchasing an additional 1,483,427 shares during the period. Fiera Capital Corp purchased a new stake in Klaviyo during the second quarter worth about $42,645,000. Finally, JPMorgan Chase & Co. increased its stake in Klaviyo by 105.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,692,854 shares of the company’s stock worth $56,846,000 after buying an additional 867,666 shares during the period. Hedge funds and other institutional investors 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.