Klaviyo (NYSE:KVYO) Price Target Raised to $41.00

Klaviyo (NYSE:KVYO) had its price objective raised by Barclays from $32.00 to $41.00 in a research report released on Friday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other equities analysts have also recently issued reports on KVYO. Needham & Company LLC reissued a buy rating and issued a $40.00 price objective on shares of Klaviyo in a report on Wednesday, September 4th. Robert W. Baird boosted their price target on Klaviyo from $35.00 to $42.00 and gave the company an outperform rating in a report on Thursday, October 10th. Cantor Fitzgerald raised their price objective on shares of Klaviyo from $31.00 to $33.00 and gave the stock an overweight rating in a research note on Thursday, August 8th. Piper Sandler boosted their target price on shares of Klaviyo from $30.00 to $34.00 and gave the company an overweight rating in a research note on Thursday, August 8th. Finally, Benchmark initiated coverage on shares of Klaviyo in a research report on Monday, September 30th. They set a buy rating and a $42.00 price target on the stock. Three research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $36.89.

Klaviyo Trading Down 1.1 %

Shares of NYSE:KVYO opened at $36.61 on Friday. Klaviyo has a twelve month low of $21.26 and a twelve month high of $37.64. The company has a market cap of $9.69 billion and a PE ratio of -25.96. The company’s 50 day moving average is $32.42 and its 200 day moving average is $26.85.

Klaviyo (NYSE:KVYO) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.05. The firm had revenue of $222.21 million for the quarter, compared to analyst estimates of $212.34 million. Klaviyo had a negative net margin of 42.15% and a negative return on equity of 32.19%. The business’s quarterly revenue was up 35.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.09 earnings per share. Equities research analysts predict that Klaviyo will post -0.01 earnings per share for the current fiscal year.

Insider Transactions at Klaviyo

In other news, CTO Allen Chaves sold 130,000 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $31.59, for a total value of $4,106,700.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, major shareholder Summit Partners L. P sold 242,601 shares of Klaviyo stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $31.78, for a total transaction of $7,709,859.78. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CTO Allen Chaves sold 130,000 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $31.59, for a total value of $4,106,700.00. The disclosure for this sale can be found here. Insiders have sold 853,363 shares of company stock valued at $26,937,202 over the last ninety days. Insiders own 53.24% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Salem Investment Counselors Inc. raised its position in shares of Klaviyo by 161.1% during the 1st quarter. Salem Investment Counselors Inc. now owns 2,350 shares of the company’s stock valued at $60,000 after buying an additional 1,450 shares during the period. EntryPoint Capital LLC purchased a new position in shares of Klaviyo during the 1st quarter worth $71,000. SG Americas Securities LLC acquired a new stake in shares of Klaviyo during the 2nd quarter worth about $236,000. Creative Planning acquired a new stake in shares of Klaviyo during the 3rd quarter worth about $254,000. Finally, SVB Wealth LLC purchased a new stake in Klaviyo in the 1st quarter valued at about $299,000. Institutional investors and hedge funds 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.