Klaviyo, Inc. (NYSE:KVYO) Receives $35.65 Consensus Price Target from Analysts

Klaviyo, Inc. (NYSE:KVYO) has been assigned a consensus recommendation of “Moderate Buy” from the eighteen ratings firms that are presently covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $35.65.

KVYO has been the subject of a number of analyst reports. Piper Sandler boosted their price objective on shares of Klaviyo from $30.00 to $34.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Cantor Fitzgerald boosted their price target on Klaviyo from $31.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. KeyCorp upgraded Klaviyo from a “sector weight” rating to an “overweight” rating and set a $33.00 price objective on the stock in a report on Thursday, August 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Klaviyo in a research report on Wednesday. Finally, Barclays increased their target price on Klaviyo from $29.00 to $32.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th.

Klaviyo Stock Performance

Shares of KVYO stock opened at $29.62 on Thursday. Klaviyo has a fifty-two week low of $21.26 and a fifty-two week high of $39.47. The business has a fifty day simple moving average of $27.63 and a 200-day simple moving average of $25.43.

Klaviyo (NYSE:KVYO) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.05. The business had revenue of $222.21 million for the quarter, compared to the consensus estimate of $212.34 million. Klaviyo had a negative return on equity of 32.19% and a negative net margin of 42.15%. The business’s revenue was up 35.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.09 earnings per share. On average, sell-side analysts expect that Klaviyo will post -0.01 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Amanda Whalen sold 60,000 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $30.23, for a total transaction of $1,813,800.00. Following the completion of the sale, the chief financial officer now directly owns 435,993 shares in the company, valued at $13,180,068.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Amanda Whalen sold 60,000 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $30.23, for a total transaction of $1,813,800.00. Following the completion of the transaction, the chief financial officer now directly owns 435,993 shares in the company, valued at approximately $13,180,068.39. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Landon Edmond sold 21,764 shares of Klaviyo stock in a transaction on Monday, August 26th. The stock was sold at an average price of $32.28, for a total transaction of $702,541.92. Following the completion of the sale, the insider now owns 245,743 shares of the company’s stock, valued at approximately $7,932,584.04. The disclosure for this sale can be found here. Insiders have sold 588,044 shares of company stock worth $18,518,488 in the last quarter. 53.24% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Klaviyo

Institutional investors have recently modified their holdings of the stock. New York State Common Retirement Fund increased its holdings in Klaviyo by 191.0% in the fourth quarter. New York State Common Retirement Fund now owns 5,485 shares of the company’s stock valued at $152,000 after buying an additional 3,600 shares during the last quarter. Jump Financial LLC bought a new stake in shares of Klaviyo in the 4th quarter valued at approximately $1,708,000. Seven Grand Managers LLC raised its position in shares of Klaviyo by 150.0% during the 4th quarter. Seven Grand Managers LLC now owns 50,000 shares of the company’s stock valued at $1,389,000 after acquiring an additional 30,000 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Klaviyo during the fourth quarter worth $1,780,000. Finally, Norges Bank acquired a new position in Klaviyo in the fourth quarter worth $21,258,000. Institutional investors and hedge funds 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.