Klaviyo (NYSE:KVYO – Get Free Report) had its target price upped by stock analysts at Barclays from $22.00 to $23.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s target price points to a potential upside of 9.02% from the stock’s previous close.
KVYO has been the subject of several other research reports. Piper Sandler dropped their price target on shares of Klaviyo from $26.00 to $23.00 and set an “overweight” rating for the company in a research note on Thursday, August 6th. Wall Street Zen cut Klaviyo from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Stifel Nicolaus set a $22.00 price objective on Klaviyo in a research report on Thursday, September 10th. Weiss Ratings raised Klaviyo from a “sell (d-)” rating to a “sell (d)” rating in a research note on Tuesday, September 8th. Finally, Wells Fargo & Company lifted their target price on Klaviyo from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Wednesday, October 28th. Seventeen research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Klaviyo currently has a consensus rating of “Moderate Buy” and an average price target of $26.90.
Read Our Latest Stock Report on Klaviyo
Klaviyo Stock Performance
Shares of NYSE KVYO traded down $0.26 during trading on Thursday, hitting $21.10. 3,360,347 shares of the company were exchanged, compared to its average volume of 5,593,281. The company has a fifty day moving average price of $18.02 and a 200-day moving average price of $18.00. The firm has a market capitalization of $6.01 billion, a PE ratio of 1,054.33 and a beta of 0.50. Klaviyo has a 12-month low of $12.53 and a 12-month high of $33.35.
Klaviyo (NYSE:KVYO – Get Free Report) last announced its quarterly earnings data on Wednesday, November 4th. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.05. Klaviyo had a net margin of 0.49% and a return on equity of 5.67%. The firm had revenue of $387.21 million during the quarter, compared to analyst estimates of $380.02 million. During the same quarter in the prior year, the firm posted $0.18 earnings per share. Klaviyo’s quarterly revenue was up 24.5% on a year-over-year basis. Research analysts anticipate that Klaviyo will post 0.20 earnings per share for the current fiscal year.
Insider Activity
In other Klaviyo news, insider Landon Edmond sold 53,473 shares of the business’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $20.01, for a total transaction of $1,069,994.73. Following the sale, the insider directly owned 485,969 shares in the company, valued at $9,724,239.69. This represents a 9.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Summit Partners L. P sold 5,000,000 shares of the stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $17.71, for a total transaction of $88,550,000.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 5,275,468 shares of company stock worth $93,822,653 in the last quarter. Insiders own 37.42% of the company’s stock.
Hedge Funds Weigh In On Klaviyo
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Illinois Municipal Retirement Fund acquired a new stake in shares of Klaviyo in the third quarter valued at $1,588,000. Fulcrum Asset Management LLP purchased a new position in shares of Klaviyo in the 3rd quarter valued at about $1,849,000. Parallel Advisors LLC boosted its stake in shares of Klaviyo by 30.1% in the 3rd quarter. Parallel Advisors LLC now owns 2,276 shares of the company’s stock valued at $36,000 after buying an additional 526 shares during the period. CenterBook Partners LP acquired a new position in shares of Klaviyo during the third quarter worth about $378,000. Finally, Commonwealth Equity Services LLC purchased a new stake in shares of Klaviyo during the third quarter worth approximately $327,000. Hedge funds and other institutional investors own 45.43% of the company’s stock.
Klaviyo Company Profile
Klaviyo, Inc (NYSE: KVYO) provides a customer data and marketing automation platform designed primarily for businesses that sell online. Its software helps organizations collect, organize and analyze customer information, then use those insights to create personalized marketing and customer engagement campaigns.
The company’s platform supports communication across channels including email, SMS and mobile push notifications. Its products provide tools for audience segmentation, campaign orchestration, automation, analytics and reporting, with capabilities intended to help businesses improve customer acquisition, engagement and retention.
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