Piper Sandler Boosts Klaviyo (NYSE:KVYO) Price Target to $53.00

Klaviyo (NYSE:KVYO) had its target price raised by equities research analysts at Piper Sandler from $50.00 to $53.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s target price points to a potential upside of 12.91% from the company’s current price.

A number of other equities analysts have also recently issued reports on the stock. Canaccord Genuity Group upped their price target on shares of Klaviyo from $32.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Citigroup upped their target price on shares of Klaviyo from $39.00 to $48.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 11th. William Blair reissued an “outperform” rating on shares of Klaviyo in a research report on Thursday, December 19th. Macquarie restated a “neutral” rating and issued a $36.00 price objective on shares of Klaviyo in a report on Friday, November 8th. Finally, Needham & Company LLC increased their target price on Klaviyo from $46.00 to $56.00 and gave the company a “buy” rating in a research note on Thursday. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $45.71.

Klaviyo Stock Performance

Shares of NYSE KVYO opened at $46.94 on Thursday. The company has a 50 day simple moving average of $43.56 and a two-hundred day simple moving average of $37.75. Klaviyo has a fifty-two week low of $21.26 and a fifty-two week high of $49.55. The company has a market capitalization of $12.66 billion, a price-to-earnings ratio of -260.76 and a beta of 0.60.

Klaviyo (NYSE:KVYO) last posted its quarterly earnings data on Wednesday, February 19th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.12). Klaviyo had a negative net margin of 5.23% and a positive return on equity of 0.86%. On average, analysts forecast that Klaviyo will post 0.03 earnings per share for the current fiscal year.

Insider Activity

In other news, President Stephen Eric Rowland sold 4,536 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $40.04, for a total transaction of $181,621.44. Following the completion of the sale, the president now owns 260,403 shares of the company’s stock, valued at $10,426,536.12. The trade was a 1.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Amanda Whalen sold 23,950 shares of the firm’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $40.04, for a total value of $958,958.00. Following the completion of the transaction, the chief financial officer now directly owns 395,616 shares in the company, valued at approximately $15,840,464.64. This represents a 5.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 114,536 shares of company stock valued at $4,720,953 in the last quarter. 53.24% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Advisors Asset Management Inc. raised its stake in Klaviyo by 145.6% during 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 during the period. CIBC Private Wealth Group LLC raised its position in shares of Klaviyo by 169.5% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,752 shares of the company’s stock valued at $72,000 after purchasing an additional 1,102 shares during the period. Tower Research Capital LLC TRC raised its position in shares of Klaviyo by 77.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,874 shares of the company’s stock valued at $77,000 after purchasing an additional 818 shares during the period. SBI Securities Co. Ltd. purchased a new position in shares of Klaviyo during the 4th quarter valued at $196,000. Finally, US Bancorp DE bought a new position in Klaviyo in the 4th quarter worth $199,000. 45.43% of the stock is currently owned by institutional investors.

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.