Klaviyo (NYSE:KVYO) Given “Overweight” Rating at Piper Sandler

Piper Sandler restated their overweight rating on shares of Klaviyo (NYSE:KVYO) in a report issued on Thursday morning,Benzinga reports. They currently have a $45.00 price objective on the stock, down from their previous price objective of $50.00.

A number of other brokerages also recently issued reports on KVYO. Macquarie reissued a “neutral” rating and set a $37.00 price objective on shares of Klaviyo in a research report on Wednesday, August 6th. Weiss Ratings started coverage on shares of Klaviyo in a report on Saturday, November 1st. They issued a “sell (d-)” rating on the stock. Benchmark reiterated a “buy” rating on shares of Klaviyo in a report on Tuesday. Zacks Research raised Klaviyo to a “strong sell” rating in a research report on Friday, August 8th. Finally, TD Cowen raised their price target on Klaviyo from $45.00 to $46.00 and gave the stock a “buy” rating in a research report on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Klaviyo currently has an average rating of “Moderate Buy” and an average target price of $43.00.

Klaviyo Price Performance

Shares of KVYO traded up $1.61 during mid-day trading on Thursday, reaching $30.41. The stock had a trading volume of 6,609,831 shares, compared to its average volume of 2,230,619. The business’s fifty day moving average is $28.77 and its 200 day moving average is $31.25. Klaviyo has a 52-week low of $23.44 and a 52-week high of $49.55. The firm has a market cap of $9.12 billion, a price-to-earnings ratio of -126.71 and a beta of 1.26.

Klaviyo (NYSE:KVYO) last released its quarterly earnings data on Thursday, September 25th. The company reported $0.16 EPS for the quarter. The firm had revenue of $293.12 million for the quarter. Klaviyo had a negative return on equity of 1.02% and a negative net margin of 5.70%. As a group, sell-side analysts anticipate that Klaviyo will post 0.04 EPS for the current fiscal year.

Insider Buying and Selling at Klaviyo

In related news, President Stephen Eric Rowland sold 7,105 shares of Klaviyo stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $24.35, for a total value of $173,006.75. Following the completion of the transaction, the president directly owned 431,516 shares in the company, valued at approximately $10,507,414.60. This trade represents a 1.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Amanda Whalen sold 15,000 shares of the company’s stock in a transaction dated Friday, October 10th. The stock was sold at an average price of $25.03, for a total value of $375,450.00. Following the sale, the chief financial officer owned 481,719 shares in the company, valued at approximately $12,057,426.57. This trade represents a 3.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 5,741,781 shares of company stock valued at $180,719,288. Insiders own 49.92% of the company’s stock.

Hedge Funds Weigh In On Klaviyo

Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in Klaviyo by 19.2% in the third quarter. Vanguard Group Inc. now owns 12,787,728 shares of the company’s stock valued at $354,092,000 after buying an additional 2,059,550 shares in the last quarter. Cooper Creek Partners Management LLC purchased a new position in shares of Klaviyo in the 2nd quarter valued at about $57,109,000. Norges Bank acquired a new stake in shares of Klaviyo during the 2nd quarter worth about $52,629,000. American Century Companies Inc. lifted 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 last quarter. Finally, Fiera Capital Corp acquired a new position in Klaviyo in the second quarter valued at approximately $42,645,000. 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.