Klaviyo (NYSE:KVYO) Upgraded by Macquarie to “Hold” Rating

Klaviyo (NYSE:KVYO) was upgraded by research analysts at Macquarie to a “hold” rating in a report issued on Wednesday, Zacks.com reports.

Several other equities analysts have also recently weighed in on KVYO. Wells Fargo & Company reiterated a “buy” rating on shares of Klaviyo in a research report on Friday, October 18th. Needham & Company LLC restated a “buy” rating and set a $40.00 price target on shares of Klaviyo in a report on Wednesday, September 4th. Stifel Nicolaus initiated coverage on shares of Klaviyo in a report on Tuesday, October 22nd. They set a “buy” rating and a $45.00 price target on the stock. KeyCorp upgraded shares of Klaviyo from a “sector weight” rating to an “overweight” rating and set a $33.00 price target on the stock in a report on Thursday, August 8th. Finally, Benchmark restated a “buy” rating and set a $42.00 price target on shares of Klaviyo in a report on Thursday, October 24th. Three analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $37.29.

Klaviyo Stock Performance

NYSE KVYO opened at $38.01 on Wednesday. Klaviyo has a twelve month low of $21.26 and a twelve month high of $39.92. The stock has a market cap of $10.14 billion and a price-to-earnings ratio of -26.96. The firm’s 50 day moving average price is $34.52 and its two-hundred day moving average price is $28.06.

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

Insiders Place Their Bets

In other Klaviyo news, President Stephen Eric Rowland sold 18,114 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were 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 of the company’s stock, valued at $7,158,628.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, major shareholder Summit Partners L. P sold 242,601 shares of the company’s 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 legal filing with the SEC, which is available at this hyperlink. Also, President Stephen Eric Rowland sold 18,114 shares of the company’s 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 completion of the sale, the president now directly owns 192,488 shares in the company, valued at approximately $7,158,628.72. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 871,477 shares of company stock valued at $27,610,861 in the last quarter. Insiders own 53.24% of the company’s stock.

Institutional Trading of Klaviyo

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Janus Henderson Group PLC bought a new stake in Klaviyo in the first quarter valued at about $662,000. Swiss National Bank bought a new stake in Klaviyo during the first quarter worth about $1,776,000. Blair William & Co. IL grew its stake in Klaviyo by 1,234.0% during the first quarter. Blair William & Co. IL now owns 175,531 shares of the company’s stock worth $4,473,000 after buying an additional 162,373 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in Klaviyo during the second quarter worth about $747,000. Finally, Clearbridge Investments LLC grew its stake in Klaviyo by 1.5% during the first quarter. Clearbridge Investments LLC now owns 2,205,684 shares of the company’s stock worth $56,201,000 after buying an additional 31,587 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.