Klaviyo (NYSE:KVYO) Stock Price Expected to Rise, Piper Sandler Analyst Says

Klaviyo (NYSE:KVYO) had its price objective boosted by stock analysts at Piper Sandler from $45.00 to $50.00 in a report issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s price objective suggests a potential upside of 17.79% from the company’s current price.

Several other analysts have also issued reports on the company. Benchmark cut 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. Barclays boosted their price objective on Klaviyo from $32.00 to $41.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Stifel Nicolaus started coverage on shares of Klaviyo in a report on Tuesday, October 22nd. They set a “buy” rating and a $45.00 price target on the stock. Canaccord Genuity Group increased their price objective on shares of Klaviyo from $32.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, Cantor Fitzgerald raised their price objective on shares of Klaviyo from $33.00 to $47.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Three analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.18.

Klaviyo Stock Up 1.9 %

Klaviyo stock opened at $42.45 on Monday. Klaviyo has a 52-week low of $21.26 and a 52-week high of $44.77. The company has a market cap of $11.45 billion, a P/E ratio of -235.82 and a beta of 0.97. The business has a 50-day simple moving average of $39.02 and a two-hundred day simple moving average of $33.27.

Klaviyo (NYSE:KVYO) last announced its 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. The business had revenue of $235.09 million during the quarter, compared to analysts’ expectations of $226.33 million. Klaviyo had a negative net margin of 5.23% and a positive return on equity of 0.86%. The firm’s revenue was up 33.7% on a year-over-year basis. During the same period in the prior year, the company earned ($1.24) earnings per share. Research analysts anticipate that Klaviyo will post 0.03 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Amanda Whalen sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $34.56, for a total transaction of $518,400.00. Following the transaction, the chief financial officer now owns 395,616 shares of the company’s stock, valued at approximately $13,672,488.96. The trade was a 3.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Landon Edmond sold 40,000 shares of the 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 sale, the insider now owns 236,621 shares in the company, valued at $8,177,621.76. The trade was a 14.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 117,650 shares of company stock valued at $4,323,105 in the last three months. Corporate insiders own 53.24% of the company’s stock.

Hedge Funds Weigh In On Klaviyo

A number of large investors have recently made changes to their positions in KVYO. Advisors Asset Management Inc. boosted 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 valued at $48,000 after acquiring 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. Dark Forest Capital Management LP boosted its stake in shares of Klaviyo by 13.7% during the second quarter. Dark Forest Capital Management LP now owns 23,689 shares of the company’s stock valued at $590,000 after purchasing an additional 2,851 shares during the period. West Tower Group LLC bought a new position in shares of Klaviyo in the third quarter worth about $177,000. Finally, Victory Capital Management Inc. bought a new stake in Klaviyo during the 3rd quarter valued at about $208,000. 45.43% of the stock is owned by hedge funds and other institutional investors.

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.