Klaviyo’s (KVYO) “Buy” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Klaviyo (NYSE:KVYO) in a research report sent to investors on Wednesday, Benzinga reports. They currently have a $40.00 target price on the stock.

Other equities analysts also recently issued research reports about the stock. KeyCorp raised shares of 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. Cantor Fitzgerald upped their price objective on shares of Klaviyo from $31.00 to $33.00 and gave the stock an overweight rating in a report on Thursday, August 8th. Barclays upped their price objective on shares of Klaviyo from $29.00 to $32.00 and gave the stock an overweight rating in a report on Thursday, August 8th. Mizuho reduced their price objective on shares of Klaviyo from $40.00 to $35.00 and set a buy rating for the company in a report on Thursday, May 9th. Finally, Piper Sandler upped their price objective on shares of Klaviyo from $30.00 to $34.00 and gave the stock an overweight rating in a report on Thursday, August 8th. Three analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $35.65.

Klaviyo Price Performance

Shares of KVYO opened at $29.62 on Wednesday. Klaviyo has a 1 year low of $21.26 and a 1 year high of $39.47. The firm has a fifty day moving average of $27.63 and a 200-day moving average of $25.43.

Klaviyo (NYSE:KVYO) last announced 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 net margin of 42.15% and a negative return on equity of 32.19%. The company had revenue of $222.21 million during the quarter, compared to the consensus estimate of $212.34 million. During the same quarter in the previous year, the company posted $0.09 earnings per share. The company’s revenue for the quarter was up 35.0% compared to the same quarter last year. Analysts expect that Klaviyo will post -0.01 earnings per share for the current year.

Insiders Place Their Bets

In other Klaviyo news, major shareholder Summit Partners L. P sold 242,601 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $31.78, for a total transaction of $7,709,859.78. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Klaviyo news, major shareholder Summit Partners L. P sold 242,601 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $31.78, for a total transaction of $7,709,859.78. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Jeff Fagnan acquired 9,485 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were bought at an average price of $26.43 per share, for a total transaction of $250,688.55. Following the acquisition, the insider now owns 9,485 shares in the company, valued at approximately $250,688.55. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 588,044 shares of company stock worth $18,518,488. Company insiders own 53.24% of the company’s stock.

Hedge Funds Weigh In On Klaviyo

Large investors have recently made changes to their positions in the business. Salem Investment Counselors Inc. increased its holdings in shares of Klaviyo by 161.1% in the 1st quarter. Salem Investment Counselors Inc. now owns 2,350 shares of the company’s stock valued at $60,000 after purchasing an additional 1,450 shares during the period. EntryPoint Capital LLC acquired a new position in shares of Klaviyo in the 1st quarter valued at about $71,000. New York State Common Retirement Fund increased its holdings in shares of Klaviyo by 191.0% in the 4th quarter. New York State Common Retirement Fund now owns 5,485 shares of the company’s stock valued at $152,000 after purchasing an additional 3,600 shares during the period. SG Americas Securities LLC acquired a new position in shares of Klaviyo in the 2nd quarter valued at about $236,000. Finally, SVB Wealth LLC acquired a new position in shares of Klaviyo in the 1st quarter valued at about $299,000. 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.