Benchmark Has Lowered Expectations for Klaviyo (NYSE:KVYO) Stock Price

Klaviyo (NYSE:KVYO) had its price target cut by equities researchers at Benchmark from $42.00 to $40.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Benchmark’s target price suggests a potential upside of 19.90% from the stock’s current price.

Several other analysts have also recently weighed in on KVYO. Stifel Nicolaus assumed coverage on shares of Klaviyo in a research report on Tuesday, October 22nd. They set a “buy” rating and a $45.00 price objective on the stock. Piper Sandler lifted their price target on Klaviyo from $34.00 to $45.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Needham & Company LLC reiterated a “buy” rating and issued a $40.00 price objective on shares of Klaviyo in a report on Wednesday, September 4th. Barclays raised their price objective on Klaviyo from $32.00 to $41.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Finally, Macquarie started coverage on Klaviyo in a research note on Thursday, October 31st. They issued a “neutral” rating and a $36.00 target price for the company. Three investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, Klaviyo has a consensus rating of “Moderate Buy” and a consensus target price of $39.00.

Klaviyo Stock Performance

Shares of KVYO stock opened at $33.36 on Thursday. Klaviyo has a 52-week low of $21.26 and a 52-week high of $41.00. The business’s fifty day moving average is $35.17 and its 200 day moving average is $28.59. The company has a market capitalization of $8.90 billion, a PE ratio of -185.32 and a beta of 1.13.

Klaviyo (NYSE:KVYO) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.10 by $0.05. Klaviyo had a positive return on equity of 0.87% and a negative net margin of 5.23%. The company had revenue of $222.21 million during the quarter, compared to analyst estimates of $212.34 million. During the same quarter in the previous year, the firm earned $0.09 earnings per share. Klaviyo’s revenue was up 35.0% on a year-over-year basis. On average, sell-side analysts forecast that Klaviyo will post -0.01 EPS for the current fiscal year.

Insider Buying and Selling

In related news, President Stephen Eric Rowland sold 18,114 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $37.19, for a total transaction of $673,659.66. Following the completion of the transaction, the president now owns 192,488 shares in the company, valued at $7,158,628.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, President Stephen Eric Rowland sold 18,114 shares of Klaviyo stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $37.19, for a total transaction of $673,659.66. Following the sale, the president now owns 192,488 shares of the company’s stock, valued at approximately $7,158,628.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Allen Chaves sold 130,000 shares of the stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $31.59, for a total transaction of $4,106,700.00. The disclosure for this sale can be found here. Insiders have sold 789,711 shares of company stock valued at $25,143,646 over the last ninety days. 53.24% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Advisors Asset Management Inc. increased its stake in shares of Klaviyo by 145.6% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company’s stock worth $48,000 after acquiring an additional 808 shares in the last quarter. Pier 88 Investment Partners LLC purchased a new stake in Klaviyo in the third quarter worth about $966,000. Victory Capital Management Inc. bought a new position in shares of Klaviyo during the third quarter valued at approximately $208,000. Aigen Investment Management LP purchased a new position in shares of Klaviyo during the third quarter valued at approximately $335,000. Finally, Lisanti Capital Growth LLC bought a new stake in shares of Klaviyo in the 3rd quarter worth approximately $5,513,000. Hedge funds and other 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.