Benchmark Reiterates “Buy” Rating for Klaviyo (NYSE:KVYO)

Benchmark reiterated their buy rating on shares of Klaviyo (NYSE:KVYO) in a research note issued to investors on Thursday morning, Benzinga reports. They currently have a $42.00 price objective on the stock.

Several other equities research analysts have also commented on the company. Cantor Fitzgerald upped their price objective on Klaviyo from $31.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Needham & Company LLC restated a “buy” rating and issued a $40.00 price objective on shares of Klaviyo in a research note on Wednesday, September 4th. Wells Fargo & Company restated a “buy” rating on shares of Klaviyo in a research note on Friday, October 18th. KeyCorp raised shares of Klaviyo from a “sector weight” rating to an “overweight” rating and set a $33.00 target price for the company in a report on Thursday, August 8th. Finally, Stifel Nicolaus began coverage on shares of Klaviyo in a report on Tuesday, October 22nd. They issued a “buy” rating and a $45.00 target price for the company. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $37.38.

Klaviyo Trading Up 0.9 %

Shares of KVYO opened at $39.04 on Thursday. The firm has a market cap of $10.33 billion and a PE ratio of -27.69. The firm has a fifty day simple moving average of $33.96 and a two-hundred day simple moving average of $27.70. Klaviyo has a 1-year low of $21.26 and a 1-year high of $39.77.

Klaviyo (NYSE:KVYO) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.10 by $0.05. The firm had revenue of $222.21 million during the quarter, compared to analyst estimates of $212.34 million. Klaviyo had a negative return on equity of 32.19% and a negative net margin of 42.15%. Klaviyo’s revenue was up 35.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.09 EPS.

Insider Activity at Klaviyo

In related news, CFO Amanda Whalen sold 60,000 shares of Klaviyo stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $30.23, for a total transaction of $1,813,800.00. Following the transaction, the chief financial officer now directly owns 435,993 shares of the company’s stock, valued at $13,180,068.39. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, major shareholder Jeff Fagnan acquired 9,485 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were purchased at an average cost of $26.43 per share, with a total value of $250,688.55. Following the completion of the acquisition, the insider now directly owns 9,485 shares of the company’s stock, valued at $250,688.55. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Amanda Whalen sold 60,000 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $30.23, for a total transaction of $1,813,800.00. Following the sale, the chief financial officer now directly owns 435,993 shares in the company, valued at $13,180,068.39. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 871,477 shares of company stock valued at $27,610,861 over the last ninety days. 53.24% of the stock is owned by company insiders.

Institutional Investors Weigh In On Klaviyo

A number of large investors have recently made changes to their positions in KVYO. nVerses Capital LLC acquired a new position in Klaviyo during the third quarter valued at $53,000. William Marsh Rice University acquired a new position in Klaviyo during the third quarter valued at $245,000. Renaissance Capital LLC lifted its position in Klaviyo by 134.6% during the third quarter. Renaissance Capital LLC now owns 78,401 shares of the company’s stock valued at $2,774,000 after purchasing an additional 44,977 shares during the period. Cabot Wealth Management Inc. lifted its position in Klaviyo by 101.1% during the third quarter. Cabot Wealth Management Inc. now owns 90,425 shares of the company’s stock valued at $3,199,000 after purchasing an additional 45,451 shares during the period. Finally, Creative Planning acquired a new position in Klaviyo during the third quarter valued at $254,000. 45.43% of the stock is owned by hedge funds and other institutional investors.

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.