Klaviyo (NYSE:KVYO) Price Target Raised to $50.00 at Canaccord Genuity Group

Klaviyo (NYSE:KVYO) had its price objective lifted by equities research analysts at Canaccord Genuity Group from $40.00 to $50.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective indicates a potential upside of 19.66% from the stock’s previous close.

KVYO has been the topic of several other reports. Piper Sandler upped their target price on shares of Klaviyo from $50.00 to $53.00 and gave the company an “overweight” rating in a research report on Thursday. Macquarie restated a “neutral” rating and set a $36.00 target price on shares of Klaviyo in a research report on Friday, November 8th. Loop Capital upped their target price on shares of Klaviyo from $45.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, December 23rd. Wells Fargo & Company reduced their price objective on shares of Klaviyo from $48.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Thursday. Finally, William Blair reissued an “outperform” rating on shares of Klaviyo in a research report on Thursday, December 19th. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $49.44.

Klaviyo Trading Down 5.6 %

Shares of NYSE KVYO opened at $41.79 on Thursday. The firm’s 50-day moving average price is $43.72 and its 200-day moving average price is $37.92. The stock has a market capitalization of $11.27 billion, a price-to-earnings ratio of -232.14 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 earnings results on Wednesday, February 19th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.12). The business had revenue of $270.16 million for the quarter, compared to analysts’ expectations of $257.24 million. Klaviyo had a negative net margin of 4.92% and a positive return on equity of 0.90%. On average, equities analysts predict that Klaviyo will post 0.04 EPS for the current fiscal year.

Insider Transactions at Klaviyo

In other news, President Stephen Eric Rowland sold 4,536 shares of the firm’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 transaction of $181,621.44. Following the transaction, the president now directly owns 260,403 shares of the company’s stock, valued at approximately $10,426,536.12. This trade represents a 1.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Amanda Whalen sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $39.18, for a total transaction of $587,700.00. Following the transaction, the chief financial officer now directly owns 391,820 shares in the company, valued at approximately $15,351,507.60. This trade represents a 3.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 114,536 shares of company stock valued at $4,720,953. 53.24% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Klaviyo

Hedge funds and other institutional investors have recently modified their holdings of the business. Advisors Asset Management Inc. boosted its stake in shares of Klaviyo by 145.6% during the third quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company’s stock valued at $48,000 after purchasing an additional 808 shares in the last quarter. CIBC Private Wealth Group LLC boosted its stake in shares of Klaviyo by 169.5% during the fourth 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 in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Klaviyo by 77.5% during the fourth 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 in the last quarter. West Tower Group LLC bought a new position in shares of Klaviyo during the third quarter valued at approximately $177,000. Finally, SBI Securities Co. Ltd. bought a new position in shares of Klaviyo during the fourth quarter valued at approximately $196,000. 45.43% of the stock is currently owned by institutional investors.

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.