Stifel Nicolaus Forecasts Strong Price Appreciation for Klaviyo (NYSE:KVYO) Stock

Klaviyo (NYSE:KVYO) had its price target boosted by equities researchers at Stifel Nicolaus from $45.00 to $54.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ price target indicates a potential upside of 25.63% from the company’s current price.

Several other research analysts also recently issued reports on KVYO. Benchmark lifted their price objective on Klaviyo from $40.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday. The Goldman Sachs Group lifted their price objective on Klaviyo from $45.00 to $51.00 and gave the stock a “buy” rating in a research report on Thursday. Scotiabank increased their price objective on shares of Klaviyo from $35.00 to $45.00 and gave the stock a “sector perform” rating in a research note on Wednesday, January 29th. Citigroup raised their price target on shares of Klaviyo from $39.00 to $48.00 and gave the company a “neutral” rating in a research note on Tuesday, February 11th. Finally, KeyCorp increased their price objective on shares of Klaviyo from $42.00 to $45.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $49.44.

Klaviyo Trading Down 8.5 %

Shares of NYSE:KVYO traded down $4.02 during trading on Thursday, hitting $42.98. 3,294,301 shares of the stock were exchanged, compared to its average volume of 1,198,081. The company has a fifty day moving average price of $43.56 and a two-hundred day moving average price of $37.75. The company has a market cap of $11.59 billion, a PE ratio of -238.78 and a beta of 0.60. Klaviyo has a 12-month low of $21.26 and a 12-month high of $49.55.

Klaviyo (NYSE:KVYO) last announced its quarterly earnings results on Wednesday, February 19th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.12). The firm had revenue of $270.16 million for the quarter, compared to analysts’ expectations of $257.24 million. Klaviyo had a positive return on equity of 0.86% and a negative net margin of 5.23%. Equities research analysts anticipate that Klaviyo will post 0.03 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Amanda Whalen sold 15,000 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $45.85, for a total transaction of $687,750.00. Following the completion of the sale, the chief financial officer now owns 376,820 shares in the company, valued at approximately $17,277,197. This trade represents a 3.83 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, President Stephen Eric Rowland sold 4,536 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $40.04, for a total value of $181,621.44. Following the completion of the transaction, the president now directly owns 260,403 shares in the company, valued at $10,426,536.12. The trade was a 1.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 114,536 shares of company stock worth $4,720,953 over the last quarter. 53.24% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Klaviyo

Large investors have recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. grew its position in Klaviyo by 145.6% during the third quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company’s stock worth $48,000 after buying an additional 808 shares in the last quarter. CIBC Private Wealth Group LLC lifted its stake in Klaviyo by 169.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,752 shares of the company’s stock worth $72,000 after purchasing an additional 1,102 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in Klaviyo by 77.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,874 shares of the company’s stock worth $77,000 after purchasing an additional 818 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in Klaviyo during the fourth quarter worth $196,000. Finally, US Bancorp DE bought a new stake in Klaviyo during the fourth quarter worth $199,000. Institutional investors and hedge funds 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.