Klaviyo (NYSE:KVYO) Price Target Cut to $41.00 by Analysts at The Goldman Sachs Group

Klaviyo (NYSE:KVYO) had its price objective reduced by The Goldman Sachs Group from $48.00 to $41.00 in a research note released on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities analysts have also recently issued reports on KVYO. Weiss Ratings began coverage on shares of Klaviyo in a research note on Saturday, November 1st. They issued a “sell (d-)” rating for the company. TD Cowen upped their target price on shares of Klaviyo from $45.00 to $46.00 and gave the stock a “buy” rating in a research report on Wednesday, August 6th. Citigroup raised shares of Klaviyo from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $40.00 to $50.00 in a research note on Thursday, August 7th. Robert W. Baird raised their target price on Klaviyo from $39.00 to $40.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Wells Fargo & Company assumed coverage on Klaviyo in a report on Tuesday, September 30th. They issued an “overweight” rating and a $40.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $43.00.

Klaviyo Stock Performance

Shares of NYSE:KVYO traded up $1.61 during trading on Friday, reaching $30.41. The company had a trading volume of 6,609,831 shares, compared to its average volume of 3,125,963. Klaviyo has a twelve month low of $23.44 and a twelve month high of $49.55. The firm’s fifty day moving average is $28.73 and its 200 day moving average is $31.29. The firm has a market capitalization of $9.12 billion, a PE ratio of -126.71 and a beta of 1.26.

Klaviyo (NYSE:KVYO) last announced its earnings results on Thursday, September 25th. The company reported $0.16 earnings per share (EPS) for the quarter. The company had revenue of $293.12 million for the quarter. Klaviyo had a negative net margin of 5.70% and a negative return on equity of 1.00%. Equities analysts predict that Klaviyo will post 0.04 earnings per share for the current fiscal year.

Insider Transactions at Klaviyo

In other Klaviyo news, CEO Andrew Bialecki sold 226,702 shares of the firm’s stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $31.50, for a total value of $7,141,113.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ed Hallen sold 89,748 shares of the firm’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $31.71, for a total transaction of $2,845,909.08. Following the completion of the transaction, the director directly owned 177,776 shares in the company, valued at approximately $5,637,276.96. The trade was a 33.55% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 5,741,781 shares of company stock worth $180,719,288. Company insiders own 49.92% of the company’s stock.

Institutional Investors Weigh In On Klaviyo

A number of hedge funds have recently made changes to their positions in the business. CWM LLC lifted its position in shares of Klaviyo by 227.5% during the 1st quarter. CWM LLC now owns 930 shares of the company’s stock valued at $28,000 after buying an additional 646 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in shares of Klaviyo in the second quarter worth approximately $31,000. First Horizon Advisors Inc. purchased a new stake in shares of Klaviyo during the 2nd quarter valued at $37,000. State of Wyoming bought a new stake in Klaviyo during the first quarter worth about $42,000. Finally, Caitong International Asset Management Co. Ltd lifted its holdings in shares of Klaviyo by 217.9% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,421 shares of the company’s stock worth $43,000 after acquiring an additional 974 shares during the last quarter. 45.43% of the stock is currently owned by institutional investors.

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.