Klaviyo, Inc. (NYSE:KVYO) Stock Has Average Target Price of $26.86

Shares of Klaviyo, Inc. (NYSE:KVYO) have been assigned an average rating of “Moderate Buy” from the twenty-two brokerages that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and seventeen have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $26.86.

KVYO has been the subject of a number of research reports. Jefferies Financial Group reissued a “buy” rating and set a $21.00 target price on shares of Klaviyo in a research note on Thursday, August 6th. Canaccord Genuity Group dropped their price target on shares of Klaviyo from $32.00 to $29.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Piper Sandler cut their price objective on Klaviyo from $26.00 to $23.00 and set an “overweight” rating for the company in a report on Thursday, August 6th. Citigroup reiterated a “buy” rating on shares of Klaviyo in a report on Tuesday, September 8th. Finally, Weiss Ratings raised Klaviyo from a “sell (d-)” rating to a “sell (d)” rating in a research report on Tuesday, September 8th.

Insider Activity at Klaviyo

In other news, CFO Amanda Whalen sold 14,000 shares of the firm’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $18.47, for a total transaction of $258,580.00. Following the completion of the sale, the chief financial officer directly owned 824,192 shares of the company’s stock, valued at $15,222,826.24. This trade represents a 1.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, major shareholder Summit Partners L. P sold 5,000,000 shares of Klaviyo stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $17.71, for a total value of $88,550,000.00. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 5,275,468 shares of company stock worth $93,822,653. 37.42% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Klaviyo

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE raised its position in Klaviyo by 88.9% during the first quarter. Bank of America Corp DE now owns 1,686,770 shares of the company’s stock valued at $32,825,000 after acquiring an additional 793,613 shares in the last quarter. Bank of New York Mellon Corp grew its position in Klaviyo by 8.9% in the first quarter. Bank of New York Mellon Corp now owns 1,508,137 shares of the company’s stock worth $29,348,000 after acquiring an additional 123,480 shares in the last quarter. First Trust Advisors LP grew its position in Klaviyo by 46.5% in the first quarter. First Trust Advisors LP now owns 1,181,887 shares of the company’s stock worth $23,000,000 after acquiring an additional 374,959 shares in the last quarter. Barton Investment Management grew its position in Klaviyo by 56.7% in the first quarter. Barton Investment Management now owns 1,050,052 shares of the company’s stock worth $20,434,000 after acquiring an additional 380,010 shares in the last quarter. Finally, Janus Henderson Group PLC grew its position in Klaviyo by 15.6% in the first quarter. Janus Henderson Group PLC now owns 1,025,134 shares of the company’s stock worth $19,951,000 after acquiring an additional 138,356 shares in the last quarter. Institutional investors own 45.43% of the company’s stock.

Klaviyo Stock Performance

KVYO stock opened at $17.58 on Tuesday. The firm has a 50 day simple moving average of $17.41 and a 200 day simple moving average of $16.96. Klaviyo has a 52 week low of $12.53 and a 52 week high of $33.35. The stock has a market cap of $5.01 billion, a P/E ratio of 879.39 and a beta of 0.67.

Klaviyo (NYSE:KVYO) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.19 earnings per share for the quarter, meeting the consensus estimate of $0.19. Klaviyo had a net margin of 0.49% and a return on equity of 5.67%. The firm had revenue of $370.58 million for the quarter, compared to analyst estimates of $362.08 million. During the same quarter in the prior year, the business earned $0.16 EPS. The company’s revenue for the quarter was up 26.4% compared to the same quarter last year. Sell-side analysts predict that Klaviyo will post 0.20 EPS for the current year.

About Klaviyo

Klaviyo, Inc (NYSE: KVYO) provides a customer data and marketing automation platform designed primarily for businesses that sell online. Its software helps organizations collect, organize and analyze customer information, then use those insights to create personalized marketing and customer engagement campaigns.

The company’s platform supports communication across channels including email, SMS and mobile push notifications. Its products provide tools for audience segmentation, campaign orchestration, automation, analytics and reporting, with capabilities intended to help businesses improve customer acquisition, engagement and retention.