Brokerages Set Klaviyo, Inc. (NYSE:KVYO) PT at $49.89

Shares of Klaviyo, Inc. (NYSE:KVYO) have been assigned an average recommendation of “Moderate Buy” from the nineteen analysts that are covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $49.89.

Several brokerages have recently commented on KVYO. Stephens started coverage on shares of Klaviyo in a report on Wednesday, March 19th. They issued an “overweight” rating and a $43.00 price objective on the stock. Scotiabank increased their target price on shares of Klaviyo from $35.00 to $45.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 29th. Cantor Fitzgerald boosted their price target on shares of Klaviyo from $47.00 to $54.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Wells Fargo & Company reduced their price objective on Klaviyo from $48.00 to $45.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 20th. Finally, Robert W. Baird boosted their target price on Klaviyo from $52.00 to $54.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th.

Klaviyo Stock Performance

Shares of Klaviyo stock opened at $33.75 on Monday. The stock has a 50 day moving average of $40.90 and a 200 day moving average of $38.79. The firm has a market capitalization of $9.22 billion, a price-to-earnings ratio of -187.47 and a beta of 0.86. Klaviyo has a fifty-two week low of $21.26 and a fifty-two week high of $49.55.

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

Insiders Place Their Bets

In other Klaviyo news, major shareholder Summit Partners L. P sold 2,000,000 shares of the firm’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $32.44, for a total transaction of $64,880,000.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Amanda Whalen sold 15,000 shares of Klaviyo stock in a transaction on Friday, March 14th. The shares were sold at an average price of $33.54, for a total transaction of $503,100.00. Following the completion of the transaction, the chief financial officer now owns 349,623 shares in the company, 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 have sold a total of 2,126,246 shares of company stock valued at $69,799,958 over the last quarter. Company insiders own 53.24% of the company’s stock.

Institutional Trading of Klaviyo

A number of hedge funds have recently added to or reduced their stakes in the stock. Whale Rock Capital Management LLC raised its stake in shares of Klaviyo by 608.9% during the third quarter. Whale Rock Capital Management LLC now owns 3,600,606 shares of the company’s stock worth $127,389,000 after purchasing an additional 3,092,725 shares during the last quarter. Focus Partners Wealth purchased a new position in Klaviyo during the 4th quarter worth $38,870,000. D. E. Shaw & Co. Inc. lifted its stake in shares of Klaviyo by 195.4% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,310,227 shares of the company’s stock worth $54,034,000 after acquiring an additional 866,749 shares during the period. Lord Abbett & CO. LLC purchased a new stake in shares of Klaviyo in the fourth quarter valued at about $30,851,000. Finally, Ameriprise Financial Inc. increased its stake in shares of Klaviyo by 229.5% during the fourth quarter. Ameriprise Financial Inc. now owns 982,134 shares of the company’s stock worth $40,507,000 after acquiring an additional 684,026 shares during the period. 45.43% of the stock is owned by institutional investors and hedge funds.

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.