Klaviyo (NYSE:KVYO) Stock Price Target Raised at Barclays

Klaviyo (NYSE:KVYO) had its price target hoisted by investment analysts at Barclays from $22.00 to $23.00 in a research report issued on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price objective indicates a potential upside of 9.02% from the stock’s current price.

A number of other equities research analysts have also recently commented on the stock. Weiss Ratings raised shares of Klaviyo from a “sell (d-)” rating to a “sell (d)” rating in a research report on Tuesday, September 8th. Stephens upped their price target on Klaviyo from $24.00 to $25.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Needham & Company LLC reissued a “buy” rating on shares of Klaviyo in a research report on Wednesday, September 2nd. Truist Financial dropped their target price on Klaviyo from $35.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Finally, Stifel Nicolaus set a $22.00 price target on Klaviyo in a research note on Thursday, September 10th. Seventeen analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $26.90.

Klaviyo Stock Performance

Klaviyo stock traded down $0.26 during mid-day trading on Thursday, reaching $21.10. 3,360,347 shares of the company were exchanged, compared to its average volume of 5,593,281. The firm has a market cap of $6.01 billion, a P/E ratio of 1,054.33 and a beta of 0.50. The business has a fifty day moving average of $18.02 and a 200 day moving average of $18.00. Klaviyo has a 12-month low of $12.53 and a 12-month high of $33.35.

Klaviyo (NYSE:KVYO) last announced its quarterly earnings results on Wednesday, November 4th. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.05. Klaviyo had a return on equity of 5.67% and a net margin of 0.49%. The business had revenue of $387.21 million for the quarter, compared to the consensus estimate of $380.02 million. During the same period last year, the business posted $0.18 EPS. The business’s revenue was up 24.5% compared to the same quarter last year. Sell-side analysts predict that Klaviyo will post 0.20 EPS for the current year.

Insider Buying and Selling

In related news, insider Landon Edmond sold 53,473 shares of the stock in a transaction on Friday, August 28th. The shares were sold at an average price of $20.01, for a total transaction of $1,069,994.73. Following the sale, the insider directly owned 485,969 shares of the company’s stock, valued at approximately $9,724,239.69. This represents a 9.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Summit Partners L. P sold 5,000,000 shares of the firm’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $17.71, for a total transaction of $88,550,000.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 5,275,468 shares of company stock worth $93,822,653 in the last quarter. 37.42% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Klaviyo

A number of institutional investors have recently modified their holdings of KVYO. Bank of New York Mellon Corp lifted its holdings in Klaviyo by 8.9% in the 1st quarter. Bank of New York Mellon Corp now owns 1,508,137 shares of the company’s stock valued at $29,348,000 after purchasing an additional 123,480 shares in the last quarter. Congress Asset Management Co. grew its holdings in shares of Klaviyo by 21.8% during the third quarter. Congress Asset Management Co. now owns 774,660 shares of the company’s stock worth $12,185,000 after buying an additional 138,430 shares in the last quarter. Zweig DiMenna Associates LLC purchased a new stake in shares of Klaviyo during the first quarter worth $2,514,000. Kerrisdale Advisers LLC acquired a new stake in shares of Klaviyo in the second quarter valued at about $1,376,000. Finally, First Trust Advisors LP raised its position in shares of Klaviyo by 46.5% in the first quarter. First Trust Advisors LP now owns 1,181,887 shares of the company’s stock valued at $23,000,000 after buying an additional 374,959 shares during the last quarter. 45.43% of the stock is currently owned by institutional investors and hedge funds.

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.