Stephens Initiates Coverage on Klaviyo (NYSE:KVYO)

Stephens assumed coverage on shares of Klaviyo (NYSE:KVYO) in a research note published on Wednesday morning, Marketbeat Ratings reports. The firm issued an overweight rating and a $43.00 price objective on the stock.

KVYO has been the subject of a number of other reports. William Blair reaffirmed an “outperform” rating on shares of Klaviyo in a report on Thursday, February 20th. Barclays upped their price target on Klaviyo from $47.00 to $51.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Canaccord Genuity Group increased their price target on shares of Klaviyo from $40.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. The Goldman Sachs Group boosted their price objective on shares of Klaviyo from $45.00 to $51.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Finally, Morgan Stanley increased their target price on shares of Klaviyo from $47.00 to $50.00 and gave the company an “equal weight” rating in a research report on Thursday, February 20th. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, Klaviyo currently has an average rating of “Moderate Buy” and an average price target of $49.11.

Klaviyo Stock Up 2.0 %

Shares of NYSE:KVYO opened at $32.81 on Wednesday. Klaviyo has a fifty-two week low of $21.26 and a fifty-two week high of $49.55. The firm’s 50 day moving average price is $41.52 and its 200 day moving average price is $38.68. The stock has a market cap of $8.96 billion, a price-to-earnings ratio of -182.25 and a beta of 0.86.

Klaviyo (NYSE:KVYO) last announced its quarterly earnings data 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 firm had revenue of $270.16 million during the quarter, compared to analyst estimates of $257.24 million. Klaviyo had a negative net margin of 4.92% and a positive return on equity of 0.89%. On average, equities analysts anticipate that Klaviyo will post 0.04 EPS for the current year.

Insider Activity

In related news, major shareholder Summit Partners L. P sold 2,000,000 shares of the firm’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $32.44, for a total value of $64,880,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Amanda Whalen sold 15,000 shares of the business’s stock in a transaction that occurred 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 in the company, valued at $17,277,197. The trade was a 3.83 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,126,246 shares of company stock valued at $69,799,958. Company insiders own 53.24% of the company’s stock.

Institutional Trading of Klaviyo

Several hedge funds have recently modified their holdings of KVYO. Whale Rock Capital Management LLC raised its position in Klaviyo by 608.9% in the third quarter. Whale Rock Capital Management LLC now owns 3,600,606 shares of the company’s stock worth $127,389,000 after acquiring an additional 3,092,725 shares in the last quarter. Focus Partners Wealth acquired a new position in shares of Klaviyo during the 4th quarter worth $38,870,000. D. E. Shaw & Co. Inc. increased its holdings in shares of Klaviyo by 195.4% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,310,227 shares of the company’s stock valued at $54,034,000 after purchasing an additional 866,749 shares in the last quarter. Lord Abbett & CO. LLC acquired a new stake in shares of Klaviyo in the fourth quarter valued at about $30,851,000. Finally, Ameriprise Financial Inc. boosted its holdings in Klaviyo by 229.5% during the fourth quarter. Ameriprise Financial Inc. now owns 982,134 shares of the company’s stock worth $40,507,000 after buying an additional 684,026 shares in the last quarter. 45.43% of the stock is owned by institutional investors and hedge funds.

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.