Klaviyo (NYSE:KVYO) Price Target Raised to $51.00

Klaviyo (NYSE:KVYO) had its target price lifted by Barclays from $47.00 to $51.00 in a research report report published on Thursday morning,Benzinga reports. Barclays currently has an overweight rating on the stock.

A number of other equities research analysts also recently issued reports on the stock. William Blair reissued an “outperform” rating on shares of Klaviyo in a report on Thursday. Cantor Fitzgerald raised their target price on shares of Klaviyo from $47.00 to $54.00 and gave the company an “overweight” rating in a research note on Thursday. Morgan Stanley raised their target price on shares of Klaviyo from $47.00 to $50.00 and gave the company an “equal weight” rating in a research note on Thursday. Canaccord Genuity Group raised their target price on shares of Klaviyo from $40.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Benchmark raised their target price on shares of Klaviyo from $40.00 to $51.00 and gave the company a “buy” rating in a research note on Wednesday. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Klaviyo has an average rating of “Moderate Buy” and a consensus target price of $49.44.

Klaviyo Trading Down 5.9 %

Shares of NYSE:KVYO opened at $44.23 on Thursday. Klaviyo has a twelve month low of $21.26 and a twelve month high of $49.55. The company has a 50-day moving average price of $43.66 and a two-hundred day moving average price of $37.80.

Klaviyo (NYSE:KVYO) last issued its earnings results on Wednesday, February 19th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.12). The business had revenue of $270.16 million for the quarter, compared to the consensus estimate of $257.24 million. Klaviyo had a positive return on equity of 0.90% and a negative net margin of 4.92%. As a group, sell-side analysts anticipate that Klaviyo will post 0.04 EPS for the current fiscal year.

Insider Transactions at Klaviyo

In other news, insider Landon Edmond sold 40,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now owns 298,607 shares in the company, valued at approximately $12,481,772.60. This trade represents a 11.81 % 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. 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 completion of the transaction, the chief financial officer now owns 391,820 shares in the company, valued at $15,351,507.60. This represents a 3.69 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 114,536 shares of company stock worth $4,720,953. Insiders own 53.24% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Klaviyo by 76.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 105,178 shares of the company’s stock worth $4,338,000 after purchasing an additional 45,523 shares during the last quarter. Voloridge Investment Management LLC boosted its holdings in Klaviyo by 15.7% in the fourth quarter. Voloridge Investment Management LLC now owns 922,832 shares of the company’s stock valued at $38,058,000 after acquiring an additional 125,352 shares in the last quarter. Washington Harbour Partners LP bought a new stake in Klaviyo in the fourth quarter valued at $1,794,000. Whale Rock Capital Management LLC boosted its holdings in Klaviyo by 7.4% in the fourth quarter. Whale Rock Capital Management LLC now owns 3,868,451 shares of the company’s stock valued at $159,535,000 after acquiring an additional 267,845 shares in the last quarter. Finally, Squarepoint Ops LLC bought a new stake in Klaviyo in the fourth quarter valued at $2,099,000. 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.