Klaviyo (NYSE:KVYO) Stock Price Expected to Rise, Benchmark Analyst Says

Klaviyo (NYSE:KVYO) had its price objective lifted by equities research analysts at Benchmark from $40.00 to $51.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Benchmark’s price target would indicate a potential upside of 15.32% from the company’s current price.

Several other brokerages also recently weighed in on KVYO. Morgan Stanley upped their target price on Klaviyo from $38.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. Macquarie reissued a “neutral” rating and issued a $36.00 price objective on shares of Klaviyo in a research note on Friday, November 8th. Stifel Nicolaus assumed coverage on Klaviyo in a report on Tuesday, October 22nd. They issued a “buy” rating and a $45.00 target price for the company. William Blair restated an “outperform” rating on shares of Klaviyo in a report on Thursday, December 19th. Finally, Robert W. Baird increased their price target on Klaviyo from $42.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Five investment 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 company has an average rating of “Moderate Buy” and a consensus price target of $49.44.

Klaviyo Trading Down 5.9 %

Shares of NYSE:KVYO opened at $44.23 on Wednesday. Klaviyo has a 12-month low of $21.26 and a 12-month high of $49.55. The company has a market capitalization of $11.92 billion, a PE ratio of -245.69 and a beta of 0.60. The business has a 50 day moving average of $43.66 and a two-hundred day moving average of $37.80.

Klaviyo (NYSE:KVYO) last announced its earnings results on Wednesday, February 19th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.12). The business had revenue of $270.16 million for the quarter, compared to analyst estimates of $257.24 million. Klaviyo had a positive return on equity of 0.86% and a negative net margin of 5.23%. Equities research analysts predict that Klaviyo will post 0.03 earnings per share for the current fiscal year.

Insider Buying and Selling at Klaviyo

In other Klaviyo news, President Stephen Eric Rowland sold 4,536 shares of the stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $40.04, for a total value of $181,621.44. Following the sale, the president now owns 260,403 shares of the company’s stock, valued at $10,426,536.12. This trade represents a 1.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Amanda Whalen sold 15,000 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $45.85, for a total value of $687,750.00. Following the completion of the sale, the chief financial officer now directly owns 376,820 shares in the company, valued at $17,277,197. This represents a 3.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 114,536 shares of company stock valued at $4,720,953 in the last quarter. Corporate insiders own 53.24% of the company’s stock.

Institutional Investors Weigh In On Klaviyo

Hedge funds and other institutional investors have recently made changes to their positions in the business. Advisors Asset Management Inc. raised its position in shares of Klaviyo by 145.6% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company’s stock worth $48,000 after acquiring an additional 808 shares in the last quarter. CIBC Private Wealth Group LLC raised its position in shares of Klaviyo by 169.5% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,752 shares of the company’s stock worth $72,000 after acquiring an additional 1,102 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of Klaviyo by 77.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,874 shares of the company’s stock worth $77,000 after acquiring an additional 818 shares in the last quarter. West Tower Group LLC acquired a new stake in shares of Klaviyo during the 3rd quarter worth about $177,000. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of Klaviyo during the 4th quarter worth about $196,000. Institutional investors and hedge funds 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.