Klaviyo (NYSE:KVYO) Given New $50.00 Price Target at Canaccord Genuity Group

Klaviyo (NYSE:KVYO - Get Free Report) had its price target increased by research analysts at Canaccord Genuity Group from $40.00 to $50.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a "buy" rating on the stock. Canaccord Genuity Group's price objective would indicate a potential upside of 19.66% from the stock's previous close.

Several other equities analysts also recently weighed in on KVYO. Cantor Fitzgerald boosted their target price on Klaviyo from $47.00 to $54.00 and gave the company an "overweight" rating in a research report on Thursday. Morgan Stanley upped their price objective on Klaviyo from $47.00 to $50.00 and gave the company an "equal weight" rating in a research report on Thursday. Wells Fargo & Company cut their price objective on Klaviyo from $48.00 to $45.00 and set an "equal weight" rating on the stock in a research report on Thursday. Needham & Company LLC upped their price objective on Klaviyo from $46.00 to $56.00 and gave the company a "buy" rating in a research report on Thursday. Finally, Citigroup upped their price objective on Klaviyo from $39.00 to $48.00 and gave the company a "neutral" rating in a research report on Tuesday, February 11th. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $49.44.

Klaviyo Trading Down 5.6 %

Shares of NYSE KVYO traded down $2.48 during trading hours on Thursday, hitting $41.79. 2,914,094 shares of the company traded hands, compared to its average volume of 1,316,713. The stock has a market capitalization of $11.27 billion, a price-to-earnings ratio of -232.14 and a beta of 0.60. The company's 50 day moving average price is $43.72 and its 200 day moving average price is $37.92. Klaviyo has a 12 month low of $21.26 and a 12 month high of $49.55.

Klaviyo (NYSE:KVYO - Get Free Report) last released 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 company had revenue of $270.16 million for the quarter, compared to the consensus estimate of $257.24 million. Klaviyo had a negative net margin of 4.92% and a positive return on equity of 0.90%. Equities analysts anticipate that Klaviyo will post 0.04 EPS for the current year.

Insider Buying and Selling

In related news, insider Landon Edmond sold 40,000 shares of the company's stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $41.80, for a total transaction of $1,672,000.00. Following the completion of the sale, the insider now directly owns 298,607 shares in the company, valued at $12,481,772.60. This represents a 11.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Amanda Whalen sold 1,050 shares of the company's stock in a transaction on 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 owns 395,616 shares of the company's stock, valued at $15,852,333.12. This trade represents a 0.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 114,536 shares of company stock worth $4,720,953 in the last three months. 53.24% of the stock is owned by insiders.

Institutional Investors Weigh In On Klaviyo

A number of hedge funds have recently made changes to their positions in KVYO. Creative Planning purchased a new stake in Klaviyo in the third quarter valued at about $254,000. SpiderRock Advisors LLC raised its stake in Klaviyo by 1,571.7% in the third quarter. SpiderRock Advisors LLC now owns 501,500 shares of the company's stock valued at $17,743,000 after buying an additional 471,500 shares during the last quarter. Mayflower Financial Advisors LLC raised 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 buying an additional 441,500 shares during the last quarter. Lisanti Capital Growth LLC purchased a new stake in Klaviyo in the third quarter valued at about $5,513,000. Finally, Aigen Investment Management LP purchased a new stake in Klaviyo in the third quarter valued at about $335,000. 45.43% of the stock is currently owned by hedge funds and other institutional investors.

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.