Klaviyo (NYSE:KVYO) Price Target Raised to $53.00

Klaviyo (NYSE:KVYO) had its price target raised by Piper Sandler from $50.00 to $53.00 in a report published on Thursday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

KVYO has been the topic of several other research reports. Morgan Stanley raised their price objective on shares of Klaviyo from $38.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. Robert W. Baird raised their price objective on shares of Klaviyo from $42.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Scotiabank raised their price objective on shares of Klaviyo from $35.00 to $45.00 and gave the stock a “sector perform” rating in a research note on Wednesday, January 29th. Canaccord Genuity Group raised their price objective on shares of Klaviyo from $32.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, Wells Fargo & Company raised their price objective on shares of Klaviyo from $41.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 12th. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Klaviyo currently has an average rating of “Moderate Buy” and an average target price of $49.44.

Klaviyo Stock Down 5.6 %

Shares of KVYO stock opened at $41.79 on Thursday. Klaviyo has a 12 month low of $21.26 and a 12 month high of $49.55. The business’s 50 day moving average is $43.72 and its two-hundred day moving average is $38.04. The company has a market cap of $11.27 billion, a PE ratio of -232.14 and a beta of 0.60.

Klaviyo (NYSE:KVYO) last announced its quarterly earnings results on Wednesday, February 19th. The company reported ($0.06) EPS 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 company had revenue of $270.16 million for the quarter, compared to analyst estimates of $257.24 million. As a group, equities analysts expect that Klaviyo will post 0.04 EPS for the current fiscal year.

Insider Buying and Selling at Klaviyo

In other Klaviyo news, President Stephen Eric Rowland sold 4,536 shares of Klaviyo stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $40.04, for a total transaction of $181,621.44. Following the completion of the transaction, the president now directly owns 260,403 shares of the company’s stock, valued at approximately $10,426,536.12. This trade represents a 1.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Amanda Whalen sold 1,050 shares of Klaviyo stock in a transaction on Monday, December 9th. The shares were sold at an average price of $40.07, for a total value of $42,073.50. Following the transaction, the chief financial officer now directly owns 395,616 shares of the company’s stock, valued at approximately $15,852,333.12. The trade was a 0.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 114,536 shares of company stock valued at $4,720,953. 53.24% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Lisanti Capital Growth LLC bought a new position in shares of Klaviyo in the third quarter valued at about $5,513,000. Pier 88 Investment Partners LLC bought a new position in shares of Klaviyo in the third quarter valued at about $966,000. SpiderRock Advisors LLC raised its holdings in shares of Klaviyo by 1,571.7% in the third quarter. SpiderRock Advisors LLC now owns 501,500 shares of the company’s stock valued at $17,743,000 after buying an additional 471,500 shares during the last quarter. Integrated Wealth Concepts LLC bought a new position in shares of Klaviyo in the third quarter valued at about $5,113,000. Finally, Renaissance Capital LLC raised its holdings in shares of Klaviyo by 56.4% in the fourth quarter. Renaissance Capital LLC now owns 122,646 shares of the company’s stock valued at $5,058,000 after buying an additional 44,245 shares during the last quarter. 45.43% of the stock is owned by 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.