Brokerages Set Klaviyo, Inc. (NYSE:KVYO) Target Price at $35.65

Klaviyo, Inc. (NYSE:KVYO) has been given an average rating of “Moderate Buy” by the nineteen analysts that are covering the company, MarketBeat reports. Three analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $36.00.

A number of equities analysts recently issued reports on KVYO shares. Cantor Fitzgerald boosted their target price on shares of Klaviyo from $31.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Benchmark assumed coverage on shares of Klaviyo in a research report on Monday. They set a “buy” rating and a $42.00 price objective for the company. Piper Sandler lifted their target price on Klaviyo from $30.00 to $34.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. KeyCorp raised Klaviyo from a “sector weight” rating to an “overweight” rating and set a $33.00 price target for the company in a report on Thursday, August 8th. Finally, Barclays lifted their price objective on Klaviyo from $29.00 to $32.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th.

Klaviyo Stock Down 2.1 %

NYSE KVYO opened at $34.74 on Monday. Klaviyo has a 1 year low of $21.26 and a 1 year high of $36.47. The company has a fifty day simple moving average of $30.77 and a 200 day simple moving average of $26.29.

Klaviyo (NYSE:KVYO) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.05. Klaviyo had a negative return on equity of 32.19% and a negative net margin of 42.15%. The company had revenue of $222.21 million for the quarter, compared to the consensus estimate of $212.34 million. During the same period last year, the business posted $0.09 earnings per share. The firm’s revenue was up 35.0% compared to the same quarter last year. On average, sell-side analysts expect that Klaviyo will post -0.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Klaviyo news, President Stephen Eric Rowland sold 18,114 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $31.67, for a total value of $573,670.38. Following the completion of the sale, the president now owns 192,488 shares in the company, valued at approximately $6,096,094.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Landon Edmond sold 21,764 shares of Klaviyo stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $32.28, for a total value of $702,541.92. Following the completion of the sale, the insider now directly owns 245,743 shares in the company, valued at $7,932,584.04. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Stephen Eric Rowland sold 18,114 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $31.67, for a total transaction of $573,670.38. Following the transaction, the president now owns 192,488 shares in the company, valued at $6,096,094.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 843,363 shares of company stock valued at $26,583,602. 53.24% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Klaviyo

Institutional investors have recently modified their holdings of the business. Salem Investment Counselors Inc. boosted its stake in Klaviyo by 161.1% in the first quarter. Salem Investment Counselors Inc. now owns 2,350 shares of the company’s stock valued at $60,000 after acquiring an additional 1,450 shares during the last quarter. EntryPoint Capital LLC acquired a new position in Klaviyo in the first quarter valued at about $71,000. SG Americas Securities LLC bought a new position in Klaviyo during the second quarter worth about $236,000. SVB Wealth LLC acquired a new position in shares of Klaviyo during the 1st quarter worth about $299,000. Finally, Versor Investments LP bought a new stake in shares of Klaviyo in the 2nd quarter valued at about $309,000. Institutional investors and hedge funds 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.