Klaviyo (NYSE:KVYO) Given New $51.00 Price Target at The Goldman Sachs Group

Klaviyo (NYSE:KVYO) had its price objective upped by The Goldman Sachs Group from $45.00 to $51.00 in a research note issued to investors on Thursday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

Other equities research analysts have also recently issued research reports about the company. Morgan Stanley raised their price objective on Klaviyo from $47.00 to $50.00 and gave the company an “equal weight” rating in a research note on Thursday. Citigroup raised their price objective on Klaviyo from $39.00 to $48.00 and gave the company a “neutral” rating in a research note on Tuesday, February 11th. Cantor Fitzgerald raised their price objective on Klaviyo from $47.00 to $54.00 and gave the company an “overweight” rating in a research note on Thursday. Piper Sandler lifted their target price on Klaviyo from $50.00 to $53.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Needham & Company LLC lifted their target price on Klaviyo from $46.00 to $56.00 and gave the company a “buy” rating in a research report on Thursday. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Klaviyo has an average rating of “Moderate Buy” and an average target price of $49.44.

Klaviyo Stock Down 5.9 %

NYSE KVYO opened at $44.23 on Thursday. The business has a 50 day simple moving average of $43.66 and a 200 day simple moving average of $37.80. Klaviyo has a one year low of $21.26 and a one year high of $49.55.

Klaviyo (NYSE:KVYO) last announced its quarterly earnings data on Wednesday, February 19th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.12). Klaviyo had a negative net margin of 4.92% and a positive return on equity of 0.90%. The firm had revenue of $270.16 million during the quarter, compared to analyst estimates of $257.24 million. On average, equities analysts predict that Klaviyo will post 0.04 EPS for the current year.

Insider Buying and Selling

In related news, insider Landon Edmond sold 40,000 shares of the business’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $41.80, for a total transaction of $1,672,000.00. Following the completion of the transaction, the insider now directly owns 298,607 shares in the company, valued at $12,481,772.60. The trade was a 11.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Amanda Whalen sold 1,050 shares of the company’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $40.07, for a total value of $42,073.50. Following the completion of the transaction, the chief financial officer now owns 395,616 shares of the company’s stock, valued at $15,852,333.12. The trade was a 0.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 114,536 shares of company stock worth $4,720,953. 53.24% of the stock is owned by company insiders.

Institutional Investors Weigh In On Klaviyo

Hedge funds and other institutional investors have recently modified their holdings of the stock. Creative Planning bought a new position in Klaviyo during the 3rd quarter valued at approximately $254,000. SpiderRock Advisors LLC raised its position in shares of Klaviyo by 1,571.7% in the 3rd quarter. SpiderRock Advisors LLC now owns 501,500 shares of the company’s stock worth $17,743,000 after acquiring an additional 471,500 shares in the last quarter. Mayflower Financial Advisors LLC raised its position in shares of Klaviyo by 181.4% in the 3rd quarter. Mayflower Financial Advisors LLC now owns 684,948 shares of the company’s stock worth $24,233,000 after acquiring an additional 441,500 shares in the last quarter. Lisanti Capital Growth LLC bought a new position in shares of Klaviyo in the 3rd quarter worth approximately $5,513,000. Finally, Aigen Investment Management LP bought a new position in shares of Klaviyo in the 3rd quarter worth approximately $335,000. Institutional investors 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.