Klaviyo (NYSE:KVYO) Raised to Buy at Wall Street Zen

Klaviyo (NYSE:KVYO) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

Several other analysts have also weighed in on KVYO. Robert W. Baird lowered their target price on shares of Klaviyo from $54.00 to $37.00 and set an “outperform” rating for the company in a research note on Wednesday, April 23rd. Benchmark boosted their target price on shares of Klaviyo from $44.00 to $46.00 and gave the company a “buy” rating in a research note on Wednesday, August 6th. TD Cowen boosted their target price on shares of Klaviyo from $45.00 to $46.00 and gave the company a “buy” rating in a research note on Wednesday, August 6th. Stifel Nicolaus lowered their target price on shares of Klaviyo from $45.00 to $40.00 and set a “buy” rating for the company in a research note on Tuesday, July 15th. Finally, Truist Financial lowered their target price on shares of Klaviyo from $55.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, April 16th. Three research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Klaviyo currently has a consensus rating of “Moderate Buy” and an average target price of $43.65.

Klaviyo Price Performance

KVYO opened at $32.35 on Friday. The stock has a market capitalization of $9.61 billion, a PE ratio of -129.40 and a beta of 1.36. The firm’s fifty day moving average price is $33.05 and its 200 day moving average price is $34.61. Klaviyo has a 12-month low of $23.77 and a 12-month high of $49.55.

Klaviyo (NYSE:KVYO) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.03. The firm had revenue of $293.12 million for the quarter, compared to analysts’ expectations of $275.97 million. Klaviyo had a negative net margin of 6.19% and a negative return on equity of 1.12%. The firm’s quarterly revenue was up 31.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.15 earnings per share. On average, equities research analysts forecast that Klaviyo will post 0.04 earnings per share for the current fiscal year.

Insider Activity at Klaviyo

In other news, major shareholder Summit Partners L. P sold 4,000,000 shares of the firm’s stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $33.35, for a total transaction of $133,400,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Landon Edmond sold 9,965 shares of the firm’s stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $34.85, for a total transaction of $347,280.25. Following the transaction, the insider owned 404,744 shares of the company’s stock, valued at approximately $14,105,328.40. This trade represents a 2.40% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,094,418 shares of company stock worth $268,580,202. Company insiders own 49.92% of the company’s stock.

Hedge Funds Weigh In On Klaviyo

Several large investors have recently made changes to their positions in the business. Cetera Investment Advisers boosted its position in shares of Klaviyo by 102.3% during the 2nd quarter. Cetera Investment Advisers now owns 21,556 shares of the company’s stock valued at $724,000 after purchasing an additional 10,900 shares in the last quarter. Creative Planning lifted its stake in Klaviyo by 7.7% during the second quarter. Creative Planning now owns 18,307 shares of the company’s stock valued at $615,000 after buying an additional 1,304 shares in the last quarter. Fiera Capital Corp purchased a new stake in Klaviyo during the second quarter valued at about $42,645,000. Geode Capital Management LLC lifted its stake in Klaviyo by 31.3% during the second quarter. Geode Capital Management LLC now owns 1,255,809 shares of the company’s stock valued at $42,181,000 after buying an additional 299,502 shares in the last quarter. Finally, Glynn Capital Management LLC lifted its stake in Klaviyo by 33.0% during the second quarter. Glynn Capital Management LLC now owns 705,258 shares of the company’s stock valued at $23,683,000 after buying an additional 174,941 shares in the last quarter. Institutional investors 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.