Klaviyo (NYSE:KVYO) Price Target Raised to $41.00

Klaviyo (NYSE:KVYO) had its price objective upped by equities researchers at Barclays from $32.00 to $41.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price objective suggests a potential upside of 10.81% from the company’s current price.

Several other research analysts also recently commented on the stock. Benchmark assumed coverage on shares of Klaviyo in a research note on Monday, September 30th. They set a “buy” rating and a $42.00 price target on the stock. Robert W. Baird boosted their price target on shares of Klaviyo from $35.00 to $42.00 and gave the stock an “outperform” rating in a research note on Thursday. Piper Sandler upped their price target on shares of Klaviyo from $30.00 to $34.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. KeyCorp upgraded Klaviyo from a “sector weight” rating to an “overweight” rating and set a $33.00 price objective on the stock in a report on Thursday, August 8th. Finally, Cantor Fitzgerald increased their target price on Klaviyo from $31.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Three analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $36.89.

Klaviyo Stock Performance

Shares of NYSE:KVYO opened at $37.00 on Friday. The firm has a market capitalization of $9.87 billion and a PE ratio of -26.24. Klaviyo has a 52-week low of $21.26 and a 52-week high of $37.64. The firm has a fifty day moving average of $32.15 and a 200 day moving average of $26.77.

Klaviyo (NYSE:KVYO) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.05. The firm had revenue of $222.21 million during the quarter, compared to analysts’ expectations of $212.34 million. Klaviyo had a negative return on equity of 32.19% and a negative net margin of 42.15%. The company’s revenue for the quarter was up 35.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.09 EPS. On average, sell-side analysts forecast that Klaviyo will post -0.01 EPS for the current fiscal year.

Insider Activity at Klaviyo

In related news, major shareholder Summit Partners L. P sold 242,601 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $31.78, for a total value of $7,709,859.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, major shareholder Summit Partners L. P sold 242,601 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $31.78, for a total value of $7,709,859.78. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Amanda Whalen sold 60,000 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $30.23, for a total value of $1,813,800.00. Following the transaction, the chief financial officer now directly owns 435,993 shares of the company’s stock, valued at $13,180,068.39. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 853,363 shares of company stock worth $26,937,202 over the last quarter. Corporate insiders own 53.24% of the company’s stock.

Hedge Funds Weigh In On Klaviyo

Institutional investors and hedge funds have recently made changes to their positions in the business. Salem Investment Counselors Inc. grew its stake in shares of Klaviyo by 161.1% in the first quarter. Salem Investment Counselors Inc. now owns 2,350 shares of the company’s stock worth $60,000 after acquiring an additional 1,450 shares during the last quarter. EntryPoint Capital LLC bought a new position in Klaviyo in the 1st quarter worth about $71,000. SG Americas Securities LLC purchased a new stake in Klaviyo during the 2nd quarter valued at about $236,000. Creative Planning bought a new stake in Klaviyo during the 3rd quarter valued at about $254,000. Finally, SVB Wealth LLC bought a new stake in Klaviyo during the 1st quarter valued at about $299,000. 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.