The Goldman Sachs Group Forecasts Strong Price Appreciation for Klaviyo (NYSE:KVYO) Stock

Klaviyo (NYSE:KVYO) had its price objective upped by The Goldman Sachs Group from $45.00 to $51.00 in a report released on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities research analysts have also recently issued reports on the stock. Scotiabank boosted their target price on shares of Klaviyo from $35.00 to $45.00 and gave the company a “sector perform” rating in a report on Wednesday, January 29th. Morgan Stanley boosted their target price on shares of Klaviyo from $47.00 to $50.00 and gave the company an “equal weight” rating in a report on Thursday. Wells Fargo & Company lowered their target price on shares of Klaviyo from $48.00 to $45.00 and set an “equal weight” rating on the stock in a report on Thursday. Benchmark boosted their target price on shares of Klaviyo from $40.00 to $51.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Loop Capital boosted their target price on shares of Klaviyo from $45.00 to $60.00 and gave the company a “buy” rating in a report on Monday, December 23rd. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $49.44.

Klaviyo Trading Down 5.6 %

Klaviyo stock opened at $41.79 on Thursday. Klaviyo has a 12 month low of $21.26 and a 12 month high of $49.55. The business’s 50 day simple moving average is $43.72 and its 200 day simple moving average is $38.04. The company has a market cap of $11.27 billion, a price-to-earnings ratio of -232.14 and a beta of 0.60.

Klaviyo (NYSE:KVYO) last posted its quarterly earnings data on Wednesday, February 19th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.12). Klaviyo had a negative net margin of 4.92% and a positive return on equity of 0.89%. The firm had revenue of $270.16 million during the quarter, compared to analysts’ expectations of $257.24 million. As a group, equities research analysts forecast that Klaviyo will post 0.04 earnings per share for the current fiscal year.

Insider Activity at Klaviyo

In related news, CFO Amanda Whalen sold 15,000 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $45.85, for a total value of $687,750.00. Following the transaction, the chief financial officer now owns 376,820 shares of the company’s stock, valued at $17,277,197. This represents a 3.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Landon Edmond sold 40,000 shares of the stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $41.80, for a total value of $1,672,000.00. Following the completion of the transaction, the insider now directly owns 298,607 shares in the company, valued at approximately $12,481,772.60. This represents a 11.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 114,536 shares of company stock valued at $4,720,953 over the last 90 days. 53.24% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Advisors Asset Management Inc. increased its holdings in shares of Klaviyo by 145.6% in 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 during the period. CIBC Private Wealth Group LLC increased its holdings in shares of Klaviyo by 169.5% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,752 shares of the company’s stock worth $72,000 after buying an additional 1,102 shares during the period. Tower Research Capital LLC TRC increased its holdings in shares of Klaviyo by 77.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,874 shares of the company’s stock worth $77,000 after buying an additional 818 shares during the period. West Tower Group LLC purchased a new position in shares of Klaviyo in the third quarter worth about $177,000. Finally, SBI Securities Co. Ltd. purchased a new position in shares of Klaviyo in the fourth quarter worth about $196,000. Hedge funds and other 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.