Brokerages Set Klaviyo, Inc. (NYSE:KVYO) Price Target at $43.21

Shares of Klaviyo, Inc. (NYSE:KVYO) have earned a consensus rating of “Moderate Buy” from the twenty ratings firms that are covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $43.21.

KVYO has been the subject of a number of research reports. 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. Cantor Fitzgerald raised shares of Klaviyo to an “overweight” rating and set a $48.00 target price for the company in a report on Tuesday, June 3rd. Stephens initiated coverage on shares of Klaviyo in a report on Wednesday, March 19th. They issued an “overweight” rating and a $43.00 target price for the company. Truist Financial dropped their target price on shares of Klaviyo from $55.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday, April 16th. Finally, Wells Fargo & Company raised shares of Klaviyo from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $32.00 to $40.00 in a report on Friday, June 13th.

Klaviyo Stock Up 3.2%

Shares of Klaviyo stock opened at $33.91 on Wednesday. The company has a market capitalization of $10.07 billion, a price-to-earnings ratio of -188.38 and a beta of 1.37. Klaviyo has a 12-month low of $22.12 and a 12-month high of $49.55. The firm’s 50-day moving average price is $33.51 and its two-hundred day moving average price is $36.29.

Klaviyo (NYSE:KVYO) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. The firm had revenue of $279.83 million for the quarter, compared to the consensus estimate of $267.79 million. Klaviyo had a negative net margin of 4.70% and a positive return on equity of 0.74%. The business’s revenue for the quarter was up 33.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.13 earnings per share. On average, sell-side analysts expect that Klaviyo will post 0.04 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Landon Edmond sold 9,965 shares of the firm’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $34.85, for a total value of $347,280.25. Following the completion of the transaction, the insider owned 404,744 shares in the company, valued at $14,105,328.40. This trade represents a 2.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Carmel Galvin sold 11,156 shares of the firm’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $35.01, for a total transaction of $390,571.56. Following the completion of the transaction, the insider owned 711,805 shares of the company’s stock, valued at approximately $24,920,293.05. This trade represents a 1.54% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,087,320 shares of company stock worth $268,247,195 over the last quarter. 49.92% of the stock is currently owned by corporate insiders.

Institutional Trading of Klaviyo

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd acquired a new stake in Klaviyo during the 4th quarter valued at approximately $374,000. Telemark Asset Management LLC acquired a new stake in Klaviyo during the 4th quarter valued at approximately $4,124,000. Norges Bank acquired a new stake in Klaviyo during the 4th quarter valued at approximately $25,197,000. Sei Investments Co. acquired a new stake in Klaviyo during the 4th quarter valued at approximately $1,781,000. Finally, Bank of America Corp DE increased its position in Klaviyo by 8.4% during the 4th quarter. Bank of America Corp DE now owns 276,697 shares of the company’s stock valued at $11,411,000 after purchasing an additional 21,425 shares during the period. 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.