Scotiabank Issues Positive Forecast for Klaviyo (NYSE:KVYO) Stock Price

Klaviyo (NYSE:KVYO) had its target price hoisted by research analysts at Scotiabank from $35.00 to $45.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “sector perform” rating on the stock. Scotiabank’s target price suggests a potential downside of 4.70% from the stock’s previous close.

KVYO has been the subject of a number of other reports. Morgan Stanley lifted their price target on shares of Klaviyo from $38.00 to $47.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. Stifel Nicolaus assumed coverage on Klaviyo in a research note on Tuesday, October 22nd. They set a “buy” rating and a $45.00 price target on the stock. Macquarie reaffirmed a “neutral” rating and issued a $36.00 price objective on shares of Klaviyo in a research report on Friday, November 8th. Piper Sandler increased their target price on Klaviyo from $45.00 to $50.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Finally, Needham & Company LLC lifted their price target on Klaviyo from $40.00 to $46.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $43.18.

Klaviyo Trading Up 3.1 %

KVYO stock opened at $47.22 on Wednesday. The company’s 50-day moving average price is $40.72 and its 200 day moving average price is $35.45. Klaviyo has a 52 week low of $21.26 and a 52 week high of $47.49. The company has a market cap of $12.73 billion, a P/E ratio of -262.31 and a beta of 0.57.

Klaviyo (NYSE:KVYO) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.11 by $0.04. Klaviyo had a positive return on equity of 0.86% and a negative net margin of 5.23%. The business had revenue of $235.09 million for the quarter, compared to analyst estimates of $226.33 million. During the same quarter in the previous year, the company earned ($1.24) EPS. The company’s quarterly revenue was up 33.7% on a year-over-year basis. On average, equities research analysts expect that Klaviyo will post 0.03 earnings per share for the current year.

Insider Activity

In other news, insider Landon Edmond sold 40,000 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $34.56, for a total transaction of $1,382,400.00. Following the completion of the sale, the insider now directly owns 236,621 shares in the company, valued at $8,177,621.76. This trade represents a 14.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Amanda Whalen sold 1,050 shares of Klaviyo stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $40.07, for a total value of $42,073.50. Following the sale, the chief financial officer now directly owns 395,616 shares in the company, valued at approximately $15,852,333.12. The trade was a 0.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 159,072 shares of company stock worth $6,090,767. 53.24% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Klaviyo

Large investors have recently modified their holdings of the stock. Whale Rock Capital Management LLC raised its position in shares of Klaviyo by 608.9% during the 3rd quarter. Whale Rock Capital Management LLC now owns 3,600,606 shares of the company’s stock valued at $127,389,000 after acquiring an additional 3,092,725 shares in the last quarter. Millennium Management LLC lifted its position in shares of Klaviyo by 53.6% in the 2nd quarter. Millennium Management LLC now owns 1,120,485 shares of the company’s stock worth $27,889,000 after buying an additional 390,849 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Klaviyo by 45.1% in the 3rd quarter. Geode Capital Management LLC now owns 786,186 shares of the company’s stock valued at $27,827,000 after buying an additional 244,447 shares during the period. Mayflower Financial Advisors LLC boosted its stake in Klaviyo by 181.4% in the third quarter. Mayflower Financial Advisors LLC now owns 684,948 shares of the company’s stock valued at $24,233,000 after acquiring an additional 441,500 shares during the period. Finally, Two Sigma Advisers LP lifted its holdings in shares of Klaviyo by 121.5% in the 3rd quarter. Two Sigma Advisers LP now owns 673,500 shares of the company’s stock worth $23,828,000 after purchasing an additional 369,400 shares during the last quarter. Institutional investors own 45.43% of the company’s stock.

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.