Klaviyo (NYSE:KVYO) Sets New 52-Week High Following Analyst Upgrade

Klaviyo, Inc. (NYSE:KVYO) shares hit a new 52-week high on Monday after Loop Capital raised their price target on the stock from $45.00 to $60.00. Loop Capital currently has a buy rating on the stock. Klaviyo traded as high as $46.00 and last traded at $46.00, with a volume of 2739 shares changing hands. The stock had previously closed at $44.08.

Several other equities analysts have also recently commented on KVYO. Canaccord Genuity Group boosted their target price on Klaviyo from $32.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. William Blair reissued an “outperform” rating on shares of Klaviyo in a report on Thursday, December 19th. Benchmark lowered their target price on shares of Klaviyo from $42.00 to $40.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Barclays boosted their price target on shares of Klaviyo from $32.00 to $41.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Finally, Robert W. Baird raised their price objective on shares of Klaviyo from $42.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.88.

Insider Activity at Klaviyo

In related news, CFO Amanda Whalen sold 1,050 shares of Klaviyo stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $40.07, for a total transaction of $42,073.50. Following the transaction, the chief financial officer now directly owns 395,616 shares of the company’s stock, valued at $15,852,333.12. This trade represents a 0.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, President Stephen Eric Rowland sold 4,536 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $34.56, for a total value of $156,764.16. Following the sale, the president now owns 186,785 shares of the company’s stock, valued at $6,455,289.60. This trade represents a 2.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 127,650 shares of company stock worth $4,676,705 in the last 90 days. 53.24% of the stock is owned by corporate insiders.

Institutional Trading of Klaviyo

Several large investors have recently bought and sold shares of KVYO. Whale Rock Capital Management LLC raised its stake in shares of Klaviyo by 608.9% in 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. Bank of New York Mellon Corp increased its holdings in Klaviyo by 677.7% in 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 buying an additional 2,406,973 shares during the period. Glynn Capital Management LLC raised its position 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 buying an additional 224,461 shares during the last quarter. Claro Advisors LLC lifted 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 valued at $31,860,000 after acquiring an additional 357,355 shares during the period. Finally, Millennium Management LLC boosted its holdings in shares of Klaviyo by 53.6% in the 2nd quarter. Millennium Management LLC now owns 1,120,485 shares of the company’s stock valued at $27,889,000 after acquiring an additional 390,849 shares during the last quarter. Hedge funds and other institutional investors own 45.43% of the company’s stock.

Klaviyo Trading Up 1.6 %

The firm’s fifty day moving average price is $38.21 and its 200 day moving average price is $32.02. The firm has a market capitalization of $11.74 billion, a PE ratio of -241.82 and a beta of 0.97.

Klaviyo (NYSE:KVYO) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.04. The company had revenue of $235.09 million for the quarter, compared to the consensus estimate of $226.33 million. Klaviyo had a positive return on equity of 0.86% and a negative net margin of 5.23%. The firm’s revenue for the quarter was up 33.7% compared to the same quarter last year. During the same period last year, the firm earned ($1.24) EPS. On average, analysts predict that Klaviyo, Inc. will post 0.03 earnings per share for the current 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.