Klaviyo (NYSE:KVYO) Raised to Strong-Buy at Jefferies Financial Group

Klaviyo (NYSE:KVYO) was upgraded by analysts at Jefferies Financial Group to a “strong-buy” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

A number of other research analysts have also recently commented on KVYO. Needham & Company LLC reissued a “buy” rating and set a $45.00 target price on shares of Klaviyo in a research report on Friday, September 26th. Robert W. Baird reduced their target price on shares of Klaviyo from $44.00 to $39.00 and set an “outperform” rating on the stock in a research report on Friday, September 26th. Stephens reduced their target price on shares of Klaviyo from $45.00 to $43.00 and set an “overweight” rating on the stock in a research report on Friday, September 26th. Wall Street Zen cut shares of Klaviyo from a “buy” rating to a “hold” rating in a research report on Sunday, August 17th. Finally, Morgan Stanley raised shares of Klaviyo from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $40.00 to $50.00 in a research report on Friday, September 19th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $43.71.

Klaviyo Stock Up 0.5%

Shares of KVYO stock opened at $26.34 on Wednesday. The stock has a market cap of $7.90 billion, a price-to-earnings ratio of -105.37 and a beta of 1.26. Klaviyo has a fifty-two week low of $23.44 and a fifty-two week high of $49.55. The firm’s 50 day moving average price is $29.99 and its two-hundred day moving average price is $31.26.

Klaviyo (NYSE:KVYO) last announced its quarterly earnings results on Thursday, September 25th. The company reported $0.16 earnings per share for the quarter. The firm had revenue of $293.12 million for the quarter. Klaviyo had a negative net margin of 6.19% and a negative return on equity of 1.12%. On average, equities analysts forecast that Klaviyo will post 0.04 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Andrew Bialecki sold 163,331 shares of Klaviyo stock in a transaction on Tuesday, October 14th. The shares were sold at an average price of $24.37, for a total value of $3,980,376.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Amanda Whalen sold 15,000 shares of Klaviyo stock in a transaction on Friday, October 10th. The stock was sold at an average price of $25.03, for a total transaction of $375,450.00. Following the completion of the sale, the chief financial officer owned 481,719 shares of the company’s stock, valued at approximately $12,057,426.57. This trade represents a 3.02% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,741,781 shares of company stock valued at $180,719,288. 49.92% of the stock is owned by insiders.

Institutional Trading of Klaviyo

Several institutional investors have recently added to or reduced their stakes in KVYO. Cooper Creek Partners Management LLC bought a new stake in Klaviyo during the second quarter valued at $57,109,000. Norges Bank bought a new position in shares of Klaviyo during the second quarter worth about $52,629,000. American Century Companies Inc. lifted its holdings in Klaviyo by 123.4% in the second quarter. American Century Companies Inc. now owns 2,685,480 shares of the company’s stock worth $90,178,000 after purchasing an additional 1,483,427 shares during the period. Fiera Capital Corp acquired a new stake in Klaviyo in the second quarter worth about $42,645,000. Finally, JPMorgan Chase & Co. lifted its holdings in Klaviyo by 105.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,692,854 shares of the company’s stock valued at $56,846,000 after acquiring an additional 867,666 shares during 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.