Needham & Company LLC Forecasts Strong Price Appreciation for Klaviyo (NYSE:KVYO) Stock

Klaviyo (NYSE:KVYO) had its price target upped by analysts at Needham & Company LLC from $46.00 to $56.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s price objective indicates a potential upside of 34.02% from the stock’s previous close.

KVYO has been the subject of a number of other research reports. Macquarie reissued a “neutral” rating and issued a $36.00 target price on shares of Klaviyo in a research report on Friday, November 8th. Robert W. Baird boosted their target price 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. William Blair reaffirmed an “outperform” rating on shares of Klaviyo in a research report on Thursday, December 19th. Cantor Fitzgerald upped their price objective on shares of Klaviyo from $33.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Finally, KeyCorp boosted their target price on Klaviyo from $42.00 to $45.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $49.44.

Klaviyo Price Performance

KVYO stock opened at $41.79 on Thursday. The company has a fifty day moving average price of $43.72 and a two-hundred day moving average price of $37.92. Klaviyo has a one year low of $21.26 and a one year high of $49.55. The stock has a market cap of $11.27 billion, a price-to-earnings ratio of -232.14 and a beta of 0.60.

Klaviyo (NYSE:KVYO) last released its quarterly earnings data 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 company had revenue of $270.16 million for the quarter, compared to the consensus estimate of $257.24 million. Research analysts anticipate that Klaviyo will post 0.04 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Amanda Whalen sold 15,000 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $45.85, for a total value of $687,750.00. Following the transaction, the chief financial officer now directly owns 376,820 shares in the company, valued at $17,277,197. This trade represents a 3.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Stephen Eric Rowland sold 4,536 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $40.04, for a total value of $181,621.44. Following the completion of the transaction, the president now owns 260,403 shares in the company, valued at approximately $10,426,536.12. This represents a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 114,536 shares of company stock worth $4,720,953. Corporate insiders own 53.24% of the company’s stock.

Institutional Investors Weigh In On Klaviyo

Several large investors have recently made changes to their positions in the business. Bank Julius Baer & Co. Ltd Zurich boosted its stake in Klaviyo by 8.0% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,836 shares of the company’s stock worth $220,000 after purchasing an additional 359 shares during the period. Victory Capital Management Inc. boosted its stake in Klaviyo by 10.3% in the 4th quarter. Victory Capital Management Inc. now owns 6,469 shares of the company’s stock worth $267,000 after purchasing an additional 604 shares during the period. Arizona State Retirement System boosted its stake in Klaviyo by 4.0% in the 4th quarter. Arizona State Retirement System now owns 16,854 shares of the company’s stock worth $695,000 after purchasing an additional 648 shares during the period. The Manufacturers Life Insurance Company boosted its stake in Klaviyo by 5.0% in the 4th quarter. The Manufacturers Life Insurance Company now owns 14,285 shares of the company’s stock worth $589,000 after purchasing an additional 677 shares during the period. Finally, Advisors Asset Management Inc. boosted its stake in Klaviyo by 145.6% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company’s stock worth $48,000 after purchasing an additional 808 shares during the period. 45.43% of the stock is owned by hedge funds and other institutional investors.

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.