Klaviyo (NYSE:KVYO) Given “Outperform” Rating at William Blair

Klaviyo (NYSE:KVYO)‘s stock had its “outperform” rating reissued by research analysts at William Blair in a note issued to investors on Thursday,RTT News reports.

A number of other brokerages have also recently issued reports on KVYO. Macquarie reiterated a “neutral” rating and set a $36.00 target price on shares of Klaviyo in a research report on Friday, November 8th. Cantor Fitzgerald raised their price objective on shares of Klaviyo from $33.00 to $47.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. KeyCorp boosted their target price on Klaviyo from $42.00 to $45.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Benchmark dropped their price target on Klaviyo from $42.00 to $40.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Finally, Needham & Company LLC boosted their price objective on Klaviyo from $40.00 to $46.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $39.69.

Klaviyo Stock Up 3.0 %

Shares of KVYO opened at $44.08 on Thursday. The company has a 50-day moving average price of $38.09 and a two-hundred day moving average price of $31.74. The stock has a market cap of $11.89 billion, a price-to-earnings ratio of -244.88 and a beta of 0.97. Klaviyo has a 12 month low of $21.26 and a 12 month high of $44.77.

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

Insider Buying and Selling

In related news, insider Landon Edmond sold 40,000 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $34.56, for a total value of $1,382,400.00. Following the completion of the sale, the insider now owns 236,621 shares in the company, valued at $8,177,621.76. This represents a 14.46 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Amanda Whalen sold 1,050 shares of Klaviyo stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $40.07, for a total value of $42,073.50. Following the transaction, the chief financial officer now owns 395,616 shares in the company, valued at approximately $15,852,333.12. This represents a 0.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 127,650 shares of company stock valued at $4,676,705 over the last three months. Company insiders own 53.24% of the company’s stock.

Hedge Funds Weigh In On Klaviyo

Institutional investors have recently modified their holdings of the business. Advisors Asset Management Inc. raised its holdings in Klaviyo by 145.6% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company’s stock worth $48,000 after buying an additional 808 shares during the period. nVerses Capital LLC bought a new stake in shares of Klaviyo during the third quarter worth $53,000. West Tower Group LLC acquired a new stake in shares of Klaviyo during the third quarter worth $177,000. Victory Capital Management Inc. bought a new stake in Klaviyo in the 3rd quarter valued at $208,000. Finally, SG Americas Securities LLC acquired a new position in Klaviyo in the 2nd quarter worth $236,000. Institutional investors 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.