Scotiabank Forecasts Strong Price Appreciation for Klaviyo (NYSE:KVYO) Stock

Klaviyo (NYSE:KVYO - Free Report) had its price objective increased by Scotiabank from $35.00 to $45.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a sector perform rating on the stock.

A number of other equities analysts have also weighed in on KVYO. Morgan Stanley increased their target price on shares of Klaviyo from $38.00 to $47.00 and gave the stock an "equal weight" rating in a research report on Monday, January 13th. Cantor Fitzgerald lifted their price objective on shares of Klaviyo from $33.00 to $47.00 and gave the company an "overweight" rating in a research note on Thursday, November 7th. Needham & Company LLC increased their target price on Klaviyo from $40.00 to $46.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Macquarie reiterated a "neutral" rating and issued a $36.00 price target on shares of Klaviyo in a research report on Friday, November 8th. Finally, KeyCorp increased their price objective on Klaviyo from $42.00 to $45.00 and gave the stock an "overweight" rating in a report on Friday, December 13th. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, Klaviyo has a consensus rating of "Moderate Buy" and an average target price of $43.18.

Klaviyo Price Performance

NYSE:KVYO traded down $1.13 during trading hours on Wednesday, hitting $46.10. The company's stock had a trading volume of 787,296 shares, compared to its average volume of 1,013,113. The stock has a fifty day simple moving average of $40.93 and a 200-day simple moving average of $35.53. The company has a market capitalization of $12.43 billion, a P/E ratio of -256.91 and a beta of 0.57. Klaviyo has a twelve month low of $21.26 and a twelve month high of $47.96.

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

Insider Buying and Selling

In related news, President Stephen Eric Rowland sold 4,536 shares of the business's 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 directly owns 260,403 shares in the company, valued at approximately $10,426,536.12. The trade was a 1.71 % decrease in their ownership of the stock. The transaction 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 company's stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $34.56, for a total value of $518,400.00. Following the sale, the chief financial officer now directly owns 395,616 shares in the company, valued at $13,672,488.96. This trade represents a 3.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 159,072 shares of company stock worth $6,090,767. 53.24% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Millennium Management LLC raised its holdings in shares of Klaviyo by 53.6% in the second quarter. Millennium Management LLC now owns 1,120,485 shares of the company's stock worth $27,889,000 after buying an additional 390,849 shares during the period. Point72 Asset Management L.P. purchased a new stake in Klaviyo in the second quarter worth $2,685,000. Creative Planning bought a new stake in shares of Klaviyo during the third quarter worth $254,000. Cabot Wealth Management Inc. lifted its holdings in Klaviyo by 101.1% during the 3rd quarter. Cabot Wealth Management Inc. now owns 90,425 shares of the company's stock valued at $3,199,000 after buying an additional 45,451 shares in the last quarter. Finally, Renaissance Capital LLC lifted its holdings in shares of Klaviyo by 134.6% in the 3rd quarter. Renaissance Capital LLC now owns 78,401 shares of the company's stock worth $2,774,000 after buying an additional 44,977 shares during the period. 45.43% of the stock is owned by hedge funds and other institutional investors.

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.