Klaviyo (NYSE:KVYO) Coverage Initiated by Analysts at Stephens

Stephens started coverage on shares of Klaviyo (NYSE:KVYO) in a research report report published on Wednesday, Marketbeat.com reports. The brokerage issued an overweight rating and a $43.00 target price on the stock.

Several other brokerages have also commented on KVYO. Wells Fargo & Company dropped their price target on Klaviyo from $48.00 to $45.00 and set an “equal weight” rating for the company in a research note on Thursday, February 20th. Mizuho raised their price target on shares of Klaviyo from $42.00 to $52.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Barclays increased their price objective on shares of Klaviyo from $47.00 to $51.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Robert W. Baird increased their price target on Klaviyo from $52.00 to $54.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Finally, Canaccord Genuity Group boosted their price objective on Klaviyo from $40.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $49.89.

Klaviyo Stock Up 0.3 %

Shares of NYSE:KVYO opened at $32.99 on Wednesday. The company has a market cap of $9.01 billion, a P/E ratio of -183.30 and a beta of 0.86. The business has a fifty day simple moving average of $41.23 and a 200-day simple moving average of $38.65. Klaviyo has a 52 week low of $21.26 and a 52 week high of $49.55.

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

Insiders Place Their Bets

In related news, President Stephen Eric Rowland sold 4,536 shares of Klaviyo stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $40.04, for a total value of $181,621.44. Following the transaction, the president now directly owns 260,403 shares in the company, valued at $10,426,536.12. The trade was a 1.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Amanda Whalen sold 15,000 shares of the company’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $33.54, for a total value of $503,100.00. Following the sale, the chief financial officer now directly owns 349,623 shares of the company’s stock, valued at approximately $11,726,355.42. This represents a 4.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,126,246 shares of company stock worth $69,799,958 over the last ninety days. Company insiders own 53.24% of the company’s stock.

Institutional Trading of Klaviyo

A number of hedge funds have recently bought and sold shares of the company. Advisors Asset Management Inc. raised its position in Klaviyo by 145.6% during the third 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 in the last quarter. CIBC Private Wealth Group LLC increased its position in Klaviyo by 169.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,752 shares of the company’s stock worth $72,000 after buying an additional 1,102 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in Klaviyo by 77.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,874 shares of the company’s stock valued at $77,000 after buying an additional 818 shares in the last quarter. West Tower Group LLC acquired a new stake in shares of Klaviyo in the third quarter worth about $177,000. Finally, SBI Securities Co. Ltd. bought a new stake in shares of Klaviyo during the 4th quarter worth about $196,000. 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.