Klaviyo (NYSE:KVYO) Price Target Raised to $40.00

Klaviyo (NYSE:KVYO) had its target price boosted by stock analysts at Robert W. Baird from $39.00 to $40.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Robert W. Baird’s price objective would suggest a potential upside of 40.25% from the stock’s previous close.

KVYO has been the topic of several other research reports. Cantor Fitzgerald lowered their price objective on shares of Klaviyo from $48.00 to $40.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 29th. Benchmark restated a “buy” rating on shares of Klaviyo in a research report on Tuesday. Needham & Company LLC restated a “buy” rating and set a $45.00 price target on shares of Klaviyo in a research report on Friday, September 26th. Wells Fargo & Company initiated coverage on shares of Klaviyo in a research note on Tuesday, September 30th. They issued an “overweight” rating and a $40.00 price objective for the company. Finally, Piper Sandler restated an “overweight” rating and set a $45.00 target price (down from $50.00) on shares of Klaviyo in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $43.14.

Klaviyo Stock Up 6.1%

NYSE:KVYO traded up $1.64 during trading hours on Thursday, reaching $28.52. The company had a trading volume of 7,094,049 shares, compared to its average volume of 2,186,540. The firm has a market cap of $8.56 billion, a price-to-earnings ratio of -113.46 and a beta of 1.26. The business’s 50-day simple moving average is $28.84 and its two-hundred day simple moving average is $31.27. Klaviyo has a twelve month low of $23.44 and a twelve month high of $49.55.

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

Insider Buying and Selling

In related news, Director Ed Hallen sold 89,748 shares of Klaviyo 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 of the company’s stock, valued at approximately $5,637,276.96. The trade was a 33.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Andrew Bialecki sold 163,331 shares of the business’s stock in a transaction dated Tuesday, October 14th. The shares were sold at an average price of $24.37, for a total transaction of $3,980,376.47. The SEC filing for this sale provides additional information. Insiders sold 5,741,781 shares of company stock valued at $180,719,288 in the last ninety days. Company insiders own 49.92% of the company’s stock.

Institutional Investors Weigh In On Klaviyo

Large investors have recently bought and sold shares of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in shares of Klaviyo during the 2nd quarter valued at about $31,000. CWM LLC raised its position in shares of Klaviyo by 227.5% in the first 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. First Horizon Advisors Inc. purchased a new stake in shares of Klaviyo in the second quarter valued at approximately $37,000. State of Wyoming purchased a new stake in shares of Klaviyo in the first quarter valued at about $42,000. Finally, Caitong International Asset Management Co. Ltd raised its position in Klaviyo by 217.9% in the first quarter. Caitong International Asset Management Co. Ltd now owns 1,421 shares of the company’s stock valued at $43,000 after purchasing an additional 974 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.