Klaviyo, Inc. (NYSE:KVYO) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Klaviyo, Inc. (NYSE:KVYO) have been assigned a consensus rating of “Moderate Buy” from the eighteen brokerages that are currently covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $41.41.

Several research analysts have weighed in on the stock. Needham & Company LLC increased their target price on shares of Klaviyo from $40.00 to $46.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Wells Fargo & Company increased their price objective on shares of Klaviyo from $37.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Canaccord Genuity Group boosted their target price on Klaviyo from $32.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Loop Capital upped their price target on Klaviyo from $45.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, December 23rd. Finally, Piper Sandler lifted their price objective on Klaviyo from $45.00 to $50.00 and gave the company an “overweight” rating in a research note on Monday.

Insider Buying and Selling

In other Klaviyo news, insider Landon Edmond sold 40,000 shares of the firm’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 $1,382,400.00. Following the sale, the insider now directly owns 236,621 shares in the company, valued at $8,177,621.76. This trade represents a 14.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Amanda Whalen sold 15,000 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $39.39, for a total value of $590,850.00. Following the transaction, the chief financial officer now directly owns 391,820 shares of the company’s stock, valued at approximately $15,433,789.80. This represents a 3.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 117,650 shares of company stock worth $4,323,105. Company insiders own 53.24% of the company’s stock.

Institutional Investors Weigh In On Klaviyo

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Barclays PLC boosted its holdings in Klaviyo by 1,202.0% in the third quarter. Barclays PLC now owns 12,825 shares of the company’s stock valued at $453,000 after purchasing an additional 11,840 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Klaviyo by 45.1% during the 3rd quarter. Geode Capital Management LLC now owns 786,186 shares of the company’s stock worth $27,827,000 after buying an additional 244,447 shares during the last quarter. Main Management ETF Advisors LLC acquired a new position in shares of Klaviyo in the 3rd quarter valued at $1,126,000. XTX Topco Ltd boosted its holdings in shares of Klaviyo by 79.7% in the 3rd quarter. XTX Topco Ltd now owns 43,775 shares of the company’s stock valued at $1,549,000 after buying an additional 19,412 shares in the last quarter. Finally, Whale Rock Capital Management LLC grew its position 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 buying an additional 3,092,725 shares during the last quarter. Institutional investors and hedge funds own 45.43% of the company’s stock.

Klaviyo Stock Performance

KVYO stock opened at $41.64 on Wednesday. The firm has a market cap of $11.23 billion, a PE ratio of -231.32 and a beta of 0.57. Klaviyo has a one year low of $21.26 and a one year high of $44.77. The firm’s 50 day moving average price is $39.14 and its 200-day moving average price is $33.54.

Klaviyo (NYSE:KVYO) last posted its earnings results on Wednesday, November 6th. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates 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 company’s revenue for the quarter was up 33.7% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.24) earnings per share. Equities research analysts predict that Klaviyo will post 0.03 EPS 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.