Piper Sandler Issues Positive Forecast for Klaviyo (NYSE:KVYO) Stock Price

Klaviyo (NYSE:KVYO) had its target price hoisted by Piper Sandler from $35.00 to $40.00 in a report issued on Wednesday morning, MarketBeat Ratings reports. Piper Sandler currently has an overweight rating on the stock.

A number of other analysts also recently weighed in on the company. Barclays decreased their price target on Klaviyo from $51.00 to $35.00 and set an “overweight” rating on the stock in a research note on Monday, April 21st. Wells Fargo & Company upped their price target on shares of Klaviyo from $26.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Monday, May 5th. Cantor Fitzgerald increased their price target on shares of Klaviyo from $47.00 to $54.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Robert W. Baird decreased their price objective on shares of Klaviyo from $54.00 to $37.00 and set an “outperform” rating on the stock in a report on Wednesday, April 23rd. Finally, Morgan Stanley dropped their target price on shares of Klaviyo from $50.00 to $34.00 and set an “equal weight” rating for the company in a report on Wednesday, April 16th. Five equities research 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.com, Klaviyo presently has an average rating of “Moderate Buy” and a consensus target price of $43.11.

Klaviyo Trading Up 0.4 %

Klaviyo stock opened at $33.38 on Wednesday. The stock has a 50 day moving average of $30.54 and a two-hundred day moving average of $37.38. Klaviyo has a twelve month low of $21.26 and a twelve month high of $49.55. The stock has a market capitalization of $9.12 billion, a price-to-earnings ratio of -185.44 and a beta of 1.35.

Klaviyo (NYSE:KVYO) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.02. Klaviyo had a positive return on equity of 0.89% and a negative net margin of 4.92%. The firm had revenue of $279.83 million during the quarter, compared to the consensus estimate of $267.79 million. During the same period last year, the company earned $0.13 earnings per share. The company’s revenue for the quarter was up 33.3% on a year-over-year basis. Equities analysts predict that Klaviyo will post 0.04 earnings per share for the current year.

Insider Buying and Selling

In other Klaviyo news, major shareholder Jeff Fagnan acquired 3,900 shares of the firm’s stock in a transaction on Wednesday, April 9th. The stock was bought at an average cost of $25.77 per share, for a total transaction of $100,503.00. Following the completion of the purchase, the insider now directly owns 3,900 shares in the company, valued at $100,503. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Stephen Eric Rowland sold 7,060 shares of the firm’s stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $26.66, for a total transaction of $188,219.60. Following the completion of the transaction, the president now directly owns 447,310 shares in the company, valued at approximately $11,925,284.60. This represents a 1.55 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,073,770 shares of company stock valued at $67,259,606. 53.24% of the stock is currently owned by company insiders.

Institutional Trading of Klaviyo

A number of hedge funds have recently made changes to their positions in the company. TFC Financial Management Inc. purchased a new position in shares of Klaviyo in the first quarter valued at $27,000. CWM LLC boosted its position in Klaviyo by 227.5% in the 1st quarter. CWM LLC now owns 930 shares of the company’s stock valued at $28,000 after buying an additional 646 shares during the last quarter. CIBC Private Wealth Group LLC boosted its position in 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 buying an additional 1,102 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Klaviyo by 77.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,874 shares of the company’s stock valued at $77,000 after acquiring an additional 818 shares in the last quarter. Finally, KBC Group NV purchased a new stake in shares of Klaviyo during the first quarter worth about $77,000. Hedge funds and other institutional investors 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.