Brokerages Set Klaviyo, Inc. (NYSE:KVYO) Price Target at $43.18

Shares of Klaviyo, Inc. (NYSE:KVYO - Get Free Report) have received an average rating of "Moderate Buy" from the seventeen ratings firms that are currently covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $43.63.

KVYO has been the topic of a number of recent research reports. Scotiabank raised their price target on shares of Klaviyo from $35.00 to $45.00 and gave the stock a "sector perform" rating in a research report on Wednesday, January 29th. Canaccord Genuity Group boosted their price target on Klaviyo from $32.00 to $40.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Macquarie reaffirmed a "neutral" rating and issued a $36.00 price objective on shares of Klaviyo in a research note on Friday, November 8th. Stifel Nicolaus started coverage on Klaviyo in a research note on Tuesday, October 22nd. They set a "buy" rating and a $45.00 target price for the company. Finally, Barclays raised their price target on shares of Klaviyo from $32.00 to $41.00 and gave the company an "overweight" rating in a research note on Friday, October 11th.

Klaviyo Stock Performance

NYSE:KVYO traded up $0.57 on Friday, hitting $48.58. 636,155 shares of the stock were exchanged, compared to its average volume of 1,062,459. Klaviyo has a 52 week low of $21.26 and a 52 week high of $48.73. The stock has a market capitalization of $13.10 billion, a price-to-earnings ratio of -269.89 and a beta of 0.60. The company's 50-day moving average price is $41.52 and its 200 day moving average price is $36.13.

Klaviyo (NYSE:KVYO - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.04. The business had revenue of $235.09 million during the quarter, compared to analyst estimates of $226.33 million. Klaviyo had a positive return on equity of 0.86% and a negative net margin of 5.23%. Klaviyo's quarterly revenue was up 33.7% compared to the same quarter last year. During the same period in the previous year, the firm earned ($1.24) EPS. As a group, equities research analysts predict that Klaviyo will post 0.03 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Landon Edmond sold 40,000 shares of the business's stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $34.56, for a total transaction of $1,382,400.00. Following the completion of the transaction, the insider now owns 236,621 shares in the company, valued at $8,177,621.76. The trade was a 14.46 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Amanda Whalen sold 15,000 shares of Klaviyo stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $45.85, for a total transaction of $687,750.00. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 174,072 shares of company stock worth $6,778,517 in the last three months. Corporate insiders own 53.24% of the company's stock.

Institutional Trading of Klaviyo

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Advisors Asset Management Inc. increased its stake in shares of Klaviyo by 145.6% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company's stock valued at $48,000 after purchasing an additional 808 shares in the last quarter. nVerses Capital LLC acquired a new position in shares of Klaviyo during the 3rd quarter worth approximately $53,000. US Bancorp DE acquired a new position in shares of Klaviyo during the 4th quarter worth approximately $199,000. West Tower Group LLC purchased a new position in shares of Klaviyo during the 3rd quarter valued at approximately $177,000. Finally, Victory Capital Management Inc. acquired a new stake in Klaviyo in the 3rd quarter valued at $208,000. 45.43% of the stock is owned by institutional investors and hedge funds.

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.