Klaviyo (NYSE:KVYO) Reaches New 1-Year High on Analyst Upgrade

Klaviyo, Inc. (NYSE:KVYO)’s share price hit a new 52-week high during mid-day trading on Monday after KeyCorp raised their price target on the stock from $42.00 to $45.00. KeyCorp currently has an overweight rating on the stock. Klaviyo traded as high as $41.48 and last traded at $41.45, with a volume of 1260827 shares. The stock had previously closed at $39.06.

Several other research firms have also recently weighed in on KVYO. Stifel Nicolaus assumed coverage on Klaviyo in a research note on Tuesday, October 22nd. They set a “buy” rating and a $45.00 target price for the company. Robert W. Baird boosted their target price on Klaviyo from $42.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Needham & Company LLC increased their price objective on shares of Klaviyo from $40.00 to $46.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Wells Fargo & Company reaffirmed a “buy” rating on shares of Klaviyo in a research note on Friday, October 18th. Finally, Barclays increased their price target on Klaviyo from $32.00 to $41.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $39.69.

Insider Activity

In other Klaviyo news, CFO Amanda Whalen sold 10,000 shares of the company’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $35.36, for a total transaction of $353,600.00. Following the sale, the chief financial officer now owns 422,813 shares of the company’s stock, valued at approximately $14,950,667.68. This represents a 2.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President Stephen Eric Rowland sold 4,536 shares of Klaviyo stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $34.56, for a total value of $156,764.16. Following the completion of the transaction, the president now directly owns 186,785 shares of the company’s stock, valued at approximately $6,455,289.60. This trade represents a 2.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 127,650 shares of company stock valued at $4,676,705. Company insiders own 53.24% of the company’s stock.

Hedge Funds Weigh In On Klaviyo

A number of institutional investors and hedge funds have recently modified their holdings of KVYO. SG Americas Securities LLC acquired a new position in shares of Klaviyo during the second quarter valued at about $236,000. Bank of New York Mellon Corp raised its stake in Klaviyo by 677.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,762,128 shares of the company’s stock worth $68,749,000 after buying an additional 2,406,973 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Klaviyo by 1,447.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,852 shares of the company’s stock worth $668,000 after acquiring an additional 25,117 shares in the last quarter. Claro Advisors LLC boosted its holdings in Klaviyo by 38.7% in the second quarter. Claro Advisors LLC now owns 1,280,035 shares of the company’s stock worth $31,860,000 after acquiring an additional 357,355 shares in the last quarter. Finally, Versor Investments LP acquired a new stake in Klaviyo in the second quarter valued at approximately $309,000. 45.43% of the stock is currently owned by institutional investors.

Klaviyo Price Performance

The company has a fifty day moving average price of $37.69 and a 200 day moving average price of $31.44. The stock has a market cap of $11.64 billion, a P/E ratio of -239.89 and a beta of 0.97.

Klaviyo (NYSE:KVYO) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.04. Klaviyo had a negative net margin of 5.23% and a positive return on equity of 0.86%. The business had revenue of $235.09 million during the quarter, compared to analyst estimates of $226.33 million. During the same quarter in the previous year, the business posted ($1.24) EPS. Klaviyo’s quarterly revenue was up 33.7% on a year-over-year basis. As a group, sell-side analysts expect that Klaviyo, Inc. will post 0.03 earnings per share for the current fiscal year.

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.