Brokerages Set Klaviyo, Inc. (NYSE:KVYO) Target Price at $39.00

Klaviyo, Inc. (NYSE:KVYO) has earned a consensus rating of “Moderate Buy” from the eighteen analysts that are covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and fifteen have issued a buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $39.00.

A number of equities analysts have recently issued reports on KVYO shares. Canaccord Genuity Group increased their price objective on shares of Klaviyo from $32.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Piper Sandler increased their price objective on shares of Klaviyo from $34.00 to $45.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Cantor Fitzgerald increased their price objective on shares of Klaviyo from $33.00 to $47.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Macquarie restated a “neutral” rating and issued a $36.00 price objective on shares of Klaviyo in a research note on Friday, November 8th. Finally, Needham & Company LLC increased their price objective on shares of Klaviyo from $40.00 to $46.00 and gave the company a “buy” rating in a research note on Thursday, November 7th.

Insiders Place Their Bets

In other news, President Stephen Eric Rowland sold 18,114 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $37.19, for a total value of $673,659.66. Following the transaction, the president now owns 192,488 shares of the company’s stock, valued at approximately $7,158,628.72. This trade represents a 8.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Summit Partners L. P sold 1,300 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $31.64, for a total transaction of $41,132.00. The disclosure for this sale can be found here. Insiders have sold a total of 376,033 shares of company stock valued at $12,190,812 in the last 90 days. 53.24% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Whale Rock Capital Management LLC boosted its stake in shares of Klaviyo by 608.9% in the 3rd quarter. Whale Rock Capital Management LLC now owns 3,600,606 shares of the company’s stock valued at $127,389,000 after purchasing an additional 3,092,725 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Klaviyo by 677.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,762,128 shares of the company’s stock worth $68,749,000 after acquiring an additional 2,406,973 shares during the last quarter. Clearbridge Investments LLC boosted its stake in Klaviyo by 1.5% during the 1st quarter. Clearbridge Investments LLC now owns 2,205,684 shares of the company’s stock worth $56,201,000 after acquiring an additional 31,587 shares during the last quarter. Glynn Capital Management LLC boosted its stake in Klaviyo by 19.7% during the 2nd quarter. Glynn Capital Management LLC now owns 1,363,768 shares of the company’s stock worth $33,944,000 after acquiring an additional 224,461 shares during the last quarter. Finally, Claro Advisors LLC boosted its stake in Klaviyo by 38.7% during the 2nd quarter. Claro Advisors LLC now owns 1,280,035 shares of the company’s stock worth $31,860,000 after acquiring an additional 357,355 shares during the last quarter. Institutional investors own 45.43% of the company’s stock.

Klaviyo Price Performance

Shares of Klaviyo stock opened at $36.89 on Tuesday. Klaviyo has a fifty-two week low of $21.26 and a fifty-two week high of $41.00. The firm has a fifty day moving average price of $36.26 and a two-hundred day moving average price of $29.61. The company has a market cap of $9.95 billion, a PE ratio of -204.94 and a beta of 1.13.

Klaviyo (NYSE:KVYO) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.04. Klaviyo had a negative net margin of 5.23% and a positive return on equity of 0.86%. The firm had revenue of $235.09 million during the quarter, compared to the consensus estimate of $226.33 million. During the same period in the prior year, the firm earned ($1.24) EPS. The business’s revenue was up 33.7% on a year-over-year basis. Analysts expect that Klaviyo will post 0.03 earnings per share for the current fiscal year.

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.