Needham & Company LLC Forecasts Strong Price Appreciation for Klaviyo (NYSE:KVYO) Stock

Klaviyo (NYSE:KVYO) had its price objective raised by Needham & Company LLC from $46.00 to $56.00 in a research report released on Thursday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other analysts have also weighed in on KVYO. Citigroup raised their price objective on shares of Klaviyo from $39.00 to $48.00 and gave the company a “neutral” rating in a research note on Tuesday, February 11th. Morgan Stanley raised their price target on shares of Klaviyo from $38.00 to $47.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. Benchmark upped their price objective on Klaviyo from $40.00 to $51.00 and gave the company a “buy” rating in a research report on Wednesday. Robert W. Baird boosted 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. Finally, Cantor Fitzgerald increased their price objective on Klaviyo from $33.00 to $47.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $49.44.

Klaviyo Stock Performance

KVYO stock opened at $41.79 on Thursday. The firm has a 50 day moving average price of $43.72 and a 200-day moving average price of $38.04. Klaviyo has a 52-week low of $21.26 and a 52-week high of $49.55. The firm has a market capitalization of $11.27 billion, a price-to-earnings ratio of -232.14 and a beta of 0.60.

Klaviyo (NYSE:KVYO) last announced its quarterly earnings data on Wednesday, February 19th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.12). Klaviyo had a negative net margin of 4.92% and a positive return on equity of 0.89%. The company had revenue of $270.16 million for the quarter, compared to analysts’ expectations of $257.24 million. As a group, sell-side analysts forecast that Klaviyo will post 0.04 earnings per share for the current fiscal year.

Insider Buying and Selling at Klaviyo

In other Klaviyo news, CFO Amanda Whalen sold 23,950 shares of the company’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $40.04, for a total value of $958,958.00. Following the completion of the sale, the chief financial officer now owns 395,616 shares in the company, valued at $15,840,464.64. This represents a 5.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Landon Edmond sold 40,000 shares of Klaviyo stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $41.80, for a total value of $1,672,000.00. Following the transaction, the insider now directly owns 298,607 shares in the company, valued at approximately $12,481,772.60. The trade was a 11.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 114,536 shares of company stock valued at $4,720,953. Insiders own 53.24% of the company’s stock.

Institutional Trading of Klaviyo

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Whale Rock Capital Management LLC increased its stake in Klaviyo by 608.9% in the 3rd quarter. Whale Rock Capital Management LLC now owns 3,600,606 shares of the company’s stock worth $127,389,000 after buying an additional 3,092,725 shares in the last quarter. Focus Partners Wealth purchased a new stake in shares of Klaviyo during the fourth quarter worth about $38,870,000. D. E. Shaw & Co. Inc. raised its stake in Klaviyo by 195.4% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,310,227 shares of the company’s stock valued at $54,034,000 after purchasing an additional 866,749 shares during the period. Lord Abbett & CO. LLC bought a new stake in Klaviyo during the 4th quarter valued at approximately $30,851,000. Finally, Ameriprise Financial Inc. boosted its stake in Klaviyo by 229.5% in the 4th quarter. Ameriprise Financial Inc. now owns 982,134 shares of the company’s stock worth $40,507,000 after purchasing an additional 684,026 shares during the period. 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.