Klaviyo (NYSE:KVYO) Price Target Raised to $54.00

Klaviyo (NYSE:KVYO) had its target price hoisted by equities research analysts at Robert W. Baird from $52.00 to $54.00 in a report released on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Robert W. Baird’s price target points to a potential upside of 29.23% from the company’s previous close.

A number of other equities research analysts also recently commented on the company. Loop Capital lifted their target price on Klaviyo from $45.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, December 23rd. Morgan Stanley lifted their price target on Klaviyo from $38.00 to $47.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. Benchmark lifted their price target on Klaviyo from $40.00 to $51.00 and gave the company a “buy” rating in a research report on Wednesday. Scotiabank lifted their price target on Klaviyo from $35.00 to $45.00 and gave the company a “sector perform” rating in a research report on Wednesday, January 29th. Finally, William Blair reiterated an “outperform” rating on shares of Klaviyo in a research report on Thursday, December 19th. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $49.44.

Klaviyo Stock Down 5.6 %

Klaviyo stock opened at $41.79 on Thursday. Klaviyo has a 52 week low of $21.26 and a 52 week high of $49.55. The company has a market capitalization of $11.27 billion, a price-to-earnings ratio of -232.14 and a beta of 0.60. The stock has a 50-day moving average price of $43.72 and a 200 day moving average price of $37.92.

Klaviyo (NYSE:KVYO) last released its earnings results on Wednesday, February 19th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.12). Klaviyo had a positive return on equity of 0.90% and a negative net margin of 4.92%. The firm had revenue of $270.16 million for the quarter, compared to analyst estimates of $257.24 million. Research analysts anticipate that Klaviyo will post 0.04 EPS for the current fiscal year.

Insider Transactions at Klaviyo

In other Klaviyo news, President Stephen Eric Rowland sold 4,536 shares of the business’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $40.04, for a total transaction of $181,621.44. Following the transaction, the president now owns 260,403 shares of the company’s stock, valued at approximately $10,426,536.12. The trade was a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Amanda Whalen sold 1,050 shares of the business’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $40.07, for a total value of $42,073.50. Following the transaction, the chief financial officer now directly owns 395,616 shares in the company, valued at $15,852,333.12. This trade represents a 0.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 114,536 shares of company stock valued at $4,720,953 over the last ninety days. Insiders own 53.24% of the company’s stock.

Hedge Funds Weigh In On Klaviyo

Large investors have recently modified their holdings of the business. Advisors Asset Management Inc. lifted its stake in shares of Klaviyo by 145.6% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company’s stock valued at $48,000 after purchasing an additional 808 shares during the last quarter. CIBC Private Wealth Group LLC lifted its stake in shares of Klaviyo by 169.5% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,752 shares of the company’s stock valued at $72,000 after purchasing an additional 1,102 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Klaviyo by 77.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,874 shares of the company’s stock valued at $77,000 after purchasing an additional 818 shares during the last quarter. West Tower Group LLC acquired a new position in shares of Klaviyo in the 3rd quarter valued at $177,000. Finally, SBI Securities Co. Ltd. acquired a new position in shares of Klaviyo in the 4th quarter valued at $196,000. Institutional investors and hedge funds own 45.43% of the company’s stock.

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.