Brokerages Set Klaviyo, Inc. (NYSE:KVYO) Price Target at $35.65

by · The Markets Daily

Klaviyo, Inc. (NYSE:KVYO – Get Free Report) has been given an average recommendation of “Moderate Buy” by the nineteen research firms that are currently covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $36.00.

Several analysts have weighed in on the stock. Benchmark initiated coverage on shares of Klaviyo in a research report on Monday, September 30th. They set a “buy” rating and a $42.00 target price on the stock. Cantor Fitzgerald boosted their price objective on shares of Klaviyo from $31.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Piper Sandler raised their target price on Klaviyo from $30.00 to $34.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. KeyCorp upgraded Klaviyo from a “sector weight” rating to an “overweight” rating and set a $33.00 price target on the stock in a research note on Thursday, August 8th. Finally, Barclays raised their price objective on Klaviyo from $29.00 to $32.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th.

Check Out Our Latest Report on KVYO

Insider Buying and Selling

In other Klaviyo news, CFO Amanda Whalen sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, October 4th. The stock was 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. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Klaviyo news, CFO Amanda Whalen sold 10,000 shares of the stock in a transaction on Friday, October 4th. The shares were sold at an average price of $35.36, for a total transaction of $353,600.00. Following the transaction, the chief financial officer now directly owns 422,813 shares of the company’s stock, valued at $14,950,667.68. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Stephen Eric Rowland sold 18,114 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $31.67, for a total transaction of $573,670.38. Following the sale, the president now directly owns 192,488 shares of the company’s stock, valued at $6,096,094.96. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 853,363 shares of company stock valued at $26,937,202. 53.24% of the stock is owned by company insiders.

Institutional Trading of Klaviyo

Several large investors have recently made changes to their positions in the company. Salem Investment Counselors Inc. lifted its holdings in Klaviyo by 161.1% in the 1st quarter. Salem Investment Counselors Inc. now owns 2,350 shares of the company’s stock valued at $60,000 after purchasing an additional 1,450 shares in the last quarter. EntryPoint Capital LLC purchased a new position in shares of Klaviyo in the first quarter worth about $71,000. SG Americas Securities LLC acquired a new position in Klaviyo during the second quarter worth about $236,000. SVB Wealth LLC purchased a new stake in Klaviyo during the 1st quarter valued at about $299,000. Finally, Versor Investments LP acquired a new stake in Klaviyo in the 2nd quarter valued at about $309,000. 45.43% of the stock is currently owned by hedge funds and other institutional investors.

Klaviyo Trading Up 1.7 %

Shares of KVYO opened at $35.42 on Monday. Klaviyo has a 12 month low of $21.26 and a 12 month high of $36.47. The stock has a fifty day moving average price of $31.10 and a 200-day moving average price of $26.43.

Klaviyo (NYSE:KVYO – Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.05. Klaviyo had a negative return on equity of 32.19% and a negative net margin of 42.15%. The company had revenue of $222.21 million during the quarter, compared to analysts’ expectations of $212.34 million. During the same period last year, the business posted $0.09 earnings per share. The firm’s revenue was up 35.0% compared to the same quarter last year. As a group, analysts forecast that Klaviyo will post -0.01 earnings per share for the current year.

About Klaviyo

(Get Free Report

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.

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