Klaviyo (NYSE:KVYO) Price Target Cut to $35.00 by Analysts at Barclays

Klaviyo (NYSE:KVYO) had its target price lowered by stock analysts at Barclays from $51.00 to $35.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s target price would suggest a potential upside of 43.31% from the company’s current price.

Other research analysts have also issued reports about the company. Truist Financial lowered their price objective on Klaviyo from $55.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, April 16th. William Blair reiterated an “outperform” rating on shares of Klaviyo in a report on Thursday, February 20th. Scotiabank boosted their price objective on shares of Klaviyo from $35.00 to $45.00 and gave the company a “sector perform” rating in a report on Wednesday, January 29th. Morgan Stanley decreased their target price on shares of Klaviyo from $50.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 16th. Finally, Piper Sandler lifted their price target on shares of Klaviyo from $50.00 to $53.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Klaviyo currently has an average rating of “Moderate Buy” and an average target price of $46.05.

Klaviyo Stock Down 1.0 %

NYSE KVYO opened at $24.42 on Monday. Klaviyo has a 52 week low of $21.26 and a 52 week high of $49.55. The business’s fifty day simple moving average is $33.51 and its 200-day simple moving average is $37.90. The firm has a market cap of $6.67 billion, a PE ratio of -135.68 and a beta of 1.39.

Klaviyo (NYSE:KVYO) last posted its earnings results on Wednesday, February 19th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.12). Klaviyo had a negative net margin of 4.92% and a positive return on equity of 0.89%. The firm had revenue of $270.16 million during the quarter, compared to analyst estimates of $257.24 million. Research analysts expect that Klaviyo will post 0.04 EPS for the current year.

Insiders Place Their Bets

In other Klaviyo news, CFO Amanda Whalen sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $45.85, for a total transaction of $687,750.00. Following the completion of the transaction, the chief financial officer now owns 376,820 shares in the company, valued at $17,277,197. The trade was a 3.83 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Summit Partners L. P sold 2,000,000 shares of the firm’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $32.44, for a total transaction of $64,880,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 2,088,770 shares of company stock worth $67,947,356 in the last quarter. 53.24% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. State Street Corp lifted its stake in Klaviyo by 7.9% during the third quarter. State Street Corp now owns 435,448 shares of the company’s stock worth $15,406,000 after purchasing an additional 32,034 shares during the last quarter. Barclays PLC lifted its position in shares of Klaviyo by 1,202.0% during the 3rd quarter. Barclays PLC now owns 12,825 shares of the company’s stock worth $453,000 after buying an additional 11,840 shares during 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. Capital Investment Advisors LLC acquired a new position in shares of Klaviyo in the 4th quarter valued at $621,000. Finally, Oak Ridge Investments LLC purchased a new position in shares of Klaviyo in the 4th quarter valued at $1,646,000. 45.43% of the stock is owned by institutional investors and hedge funds.

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.