Analysts Set Klaviyo, Inc. (NYSE:KVYO) Price Target at $43.33

Klaviyo, Inc. (NYSE:KVYO) has received a consensus recommendation of “Moderate Buy” from the twenty-four analysts that are currently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $43.00.

Several brokerages recently weighed in on KVYO. Wells Fargo & Company started coverage on Klaviyo in a research note on Tuesday, September 30th. They set an “overweight” rating and a $40.00 target price on the stock. Zacks Research raised Klaviyo to a “strong sell” rating in a report on Friday, August 8th. Needham & Company LLC restated a “buy” rating and set a $45.00 price target on shares of Klaviyo in a research note on Friday, September 26th. TD Cowen increased their price objective on shares of Klaviyo from $45.00 to $46.00 and gave the company a “buy” rating in a research report on Wednesday, August 6th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $45.00 target price (down from $50.00) on shares of Klaviyo in a research note on Thursday.

Klaviyo Stock Up 5.6%

Shares of Klaviyo stock opened at $30.41 on Tuesday. The company has a market cap of $9.12 billion, a P/E ratio of -126.71 and a beta of 1.26. The firm’s 50 day moving average price is $28.73 and its 200-day moving average price is $31.34. Klaviyo has a 52-week low of $23.44 and a 52-week high of $49.55.

Klaviyo (NYSE:KVYO) last announced its earnings results on Thursday, September 25th. The company reported $0.16 earnings per share for the quarter. The company had revenue of $293.12 million during the quarter. Klaviyo had a negative net margin of 5.70% and a negative return on equity of 1.00%. As a group, equities research analysts forecast that Klaviyo will post 0.04 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Summit Partners L. P sold 4,000,000 shares of the firm’s stock in a transaction on Monday, September 8th. The stock was sold at an average price of $31.87, for a total value of $127,480,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ed Hallen sold 89,748 shares of Klaviyo stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $31.71, for a total value of $2,845,909.08. Following the sale, the director directly owned 177,776 shares of the company’s stock, valued at approximately $5,637,276.96. This represents a 33.55% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 5,741,781 shares of company stock valued at $180,719,288. Insiders own 49.92% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of KVYO. CWM LLC lifted its holdings in shares of Klaviyo by 227.5% during the first quarter. CWM LLC now owns 930 shares of the company’s stock worth $28,000 after purchasing an additional 646 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in Klaviyo during the 2nd quarter worth approximately $31,000. First Horizon Advisors Inc. acquired a new stake in Klaviyo during the 2nd quarter valued at approximately $37,000. State of Wyoming purchased a new stake in shares of Klaviyo in the 1st quarter valued at $42,000. Finally, Caitong International Asset Management Co. Ltd boosted its holdings in shares of Klaviyo by 217.9% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,421 shares of the company’s stock valued at $43,000 after acquiring an additional 974 shares during the last quarter. 45.43% of the stock is currently owned by hedge funds and other 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.