Klaviyo (NYSE:KVYO) Price Target Raised to $60.00

Klaviyo (NYSE:KVYO) had its price objective hoisted by stock analysts at Loop Capital from $45.00 to $60.00 in a note issued to investors on Monday, MarketBeat Ratings reports. The firm currently has a “buy” rating on the stock. Loop Capital’s price objective would indicate a potential upside of 37.84% from the company’s previous close.

Other research analysts have also recently issued reports about the stock. Piper Sandler boosted their price objective on shares of Klaviyo from $34.00 to $45.00 and gave the company an “overweight” rating in a report on Friday, October 18th. William Blair reiterated an “outperform” rating on shares of Klaviyo in a research note on Thursday, December 19th. Robert W. Baird raised their price target on Klaviyo from $42.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Wells Fargo & Company reiterated a “buy” rating on shares of Klaviyo in a research report on Friday, October 18th. Finally, Macquarie reissued a “neutral” rating and issued a $36.00 target price on shares of Klaviyo in a report on Friday, November 8th. Three analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $40.88.

Klaviyo Stock Up 1.6 %

Shares of NYSE KVYO opened at $43.53 on Monday. The firm has a market cap of $11.74 billion, a P/E ratio of -241.82 and a beta of 0.97. Klaviyo has a twelve month low of $21.26 and a twelve month high of $44.77. The company has a 50 day moving average of $38.21 and a 200 day moving average of $32.02.

Klaviyo (NYSE:KVYO) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $235.09 million for the quarter, compared to the consensus estimate of $226.33 million. During the same period in the prior year, the company posted ($1.24) earnings per share. The company’s quarterly revenue was up 33.7% on a year-over-year basis. As a group, equities analysts expect that Klaviyo will post 0.03 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Amanda Whalen sold 1,050 shares of the business’s stock in a transaction that occurred on 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 directly owns 395,616 shares of the company’s stock, valued at approximately $15,852,333.12. The trade was a 0.26 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Stephen Eric Rowland sold 18,114 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $37.19, for a total transaction of $673,659.66. Following the sale, the president now directly owns 192,488 shares of the company’s stock, valued at approximately $7,158,628.72. This trade represents a 8.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 127,650 shares of company stock worth $4,676,705 in the last three months. Company insiders own 53.24% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Advisors Asset Management Inc. lifted its position in shares of Klaviyo by 145.6% in the third quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company’s stock worth $48,000 after buying an additional 808 shares in the last quarter. nVerses Capital LLC bought a new stake in Klaviyo in the 3rd quarter worth approximately $53,000. West Tower Group LLC bought a new position in shares of Klaviyo during the 3rd quarter valued at approximately $177,000. Victory Capital Management Inc. bought a new position in shares of Klaviyo during the 3rd quarter valued at approximately $208,000. Finally, William Marsh Rice University purchased a new position in shares of Klaviyo in the third quarter valued at $245,000. Institutional investors 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.