Klaviyo (NYSE:KVYO) Sets New 12-Month High After Analyst Upgrade

Klaviyo, Inc. (NYSE:KVYO) reached a new 52-week high during mid-day trading on Monday after Loop Capital raised their price target on the stock from $45.00 to $60.00. Loop Capital currently has a buy rating on the stock. Klaviyo traded as high as $46.00 and last traded at $46.00, with a volume of 2739 shares changing hands. The stock had previously closed at $44.08.

Other equities research analysts have also recently issued research reports about the stock. KeyCorp raised their price objective on shares of Klaviyo from $42.00 to $45.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Robert W. Baird raised their price objective on Klaviyo from $42.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Macquarie reiterated a “neutral” rating and set a $36.00 target price on shares of Klaviyo in a research report on Friday, November 8th. Canaccord Genuity Group upped their price objective on shares of Klaviyo from $32.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, William Blair reiterated an “outperform” rating on shares of Klaviyo in a research report on Thursday. Three research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $40.88.

Insider Transactions at Klaviyo

In other news, CFO Amanda Whalen sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $35.36, for a total value of $353,600.00. Following the sale, the chief financial officer now directly owns 422,813 shares of the company’s stock, valued at approximately $14,950,667.68. The trade was a 2.31 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Stephen Eric Rowland sold 4,536 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $34.56, for a total transaction of $156,764.16. Following the transaction, the president now directly owns 186,785 shares of the company’s stock, valued at $6,455,289.60. The trade was a 2.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 127,650 shares of company stock worth $4,676,705 in the last 90 days. Insiders own 53.24% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Barclays PLC boosted its position in Klaviyo by 1,202.0% in the 3rd quarter. Barclays PLC now owns 12,825 shares of the company’s stock valued at $453,000 after buying an additional 11,840 shares during the period. Geode Capital Management LLC raised its stake in shares of Klaviyo by 45.1% in the third quarter. Geode Capital Management LLC now owns 786,186 shares of the company’s stock valued at $27,827,000 after acquiring an additional 244,447 shares in the last quarter. Main Management ETF Advisors LLC purchased a new position in Klaviyo in the third quarter valued at $1,126,000. XTX Topco Ltd grew its stake in Klaviyo by 79.7% during the 3rd quarter. XTX Topco Ltd now owns 43,775 shares of the company’s stock worth $1,549,000 after purchasing an additional 19,412 shares in the last quarter. Finally, Whale Rock Capital Management LLC raised its position in Klaviyo by 608.9% in the 3rd quarter. Whale Rock Capital Management LLC now owns 3,600,606 shares of the company’s stock valued at $127,389,000 after purchasing an additional 3,092,725 shares in the last quarter. Institutional investors and hedge funds own 45.43% of the company’s stock.

Klaviyo Stock Down 1.6 %

The stock has a 50-day moving average price of $38.09 and a 200 day moving average price of $31.81. The firm has a market capitalization of $11.69 billion, a price-to-earnings ratio of -240.93 and a beta of 0.97.

Klaviyo (NYSE:KVYO) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.04. The company had revenue of $235.09 million for the quarter, compared to the consensus estimate of $226.33 million. Klaviyo had a negative net margin of 5.23% and a positive return on equity of 0.86%. The company’s quarterly revenue was up 33.7% compared to the same quarter last year. During the same period in the prior year, the firm posted ($1.24) EPS. As a group, equities analysts forecast that Klaviyo, Inc. will post 0.03 earnings per share for the current fiscal year.

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.