Barclays Issues Positive Forecast for Klaviyo (NYSE:KVYO) Stock Price

Klaviyo (NYSE:KVYO - Get Free Report) had its target price increased by analysts at Barclays from $47.00 to $51.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Barclays's price target suggests a potential upside of 22.05% from the stock's previous close.

Other equities analysts have also recently issued research reports about the company. Macquarie reissued a "neutral" rating and issued a $36.00 price objective on shares of Klaviyo in a report on Friday, November 8th. Needham & Company LLC boosted their price objective on Klaviyo from $46.00 to $56.00 and gave the company a "buy" rating in a report on Thursday. Wells Fargo & Company decreased their price objective on Klaviyo from $48.00 to $45.00 and set an "equal weight" rating for the company in a report on Thursday. Benchmark boosted their price objective on Klaviyo from $40.00 to $51.00 and gave the company a "buy" rating in a report on Wednesday. Finally, The Goldman Sachs Group boosted their price objective on Klaviyo from $45.00 to $51.00 and gave the company a "buy" rating in a report on Thursday. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, Klaviyo has an average rating of "Moderate Buy" and an average target price of $49.44.

Klaviyo Price Performance

KVYO traded down $2.48 on Thursday, reaching $41.79. 2,914,094 shares of the stock were exchanged, compared to its average volume of 1,316,713. The company's 50-day moving average price is $43.72 and its 200 day moving average price is $37.92. Klaviyo has a fifty-two week low of $21.26 and a fifty-two week high of $49.55. The firm has a market capitalization of $11.27 billion, a PE ratio of -232.14 and a beta of 0.60.

Klaviyo (NYSE:KVYO - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The company reported ($0.06) EPS for the quarter, missing analysts' consensus estimates of $0.06 by ($0.12). Klaviyo had a positive return on equity of 0.90% and a negative net margin of 4.92%. The firm had revenue of $270.16 million for the quarter, compared to analyst estimates of $257.24 million. As a group, equities analysts forecast that Klaviyo will post 0.04 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Amanda Whalen sold 15,000 shares of the company's stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $39.18, for a total value of $587,700.00. Following the completion of the sale, the chief financial officer now directly owns 391,820 shares in the company, valued at $15,351,507.60. This represents a 3.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Landon Edmond sold 40,000 shares of the stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $41.80, for a total value of $1,672,000.00. Following the completion of the transaction, the insider now owns 298,607 shares of the company's stock, valued at $12,481,772.60. The trade was a 11.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 114,536 shares of company stock worth $4,720,953. Corporate insiders own 53.24% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Klaviyo by 76.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 105,178 shares of the company's stock worth $4,338,000 after purchasing an additional 45,523 shares in the last quarter. Voloridge Investment Management LLC lifted its stake in Klaviyo by 15.7% during the fourth quarter. Voloridge Investment Management LLC now owns 922,832 shares of the company's stock worth $38,058,000 after purchasing an additional 125,352 shares in the last quarter. Washington Harbour Partners LP acquired a new position in Klaviyo during the fourth quarter worth $1,794,000. Whale Rock Capital Management LLC lifted its stake in Klaviyo by 7.4% during the fourth quarter. Whale Rock Capital Management LLC now owns 3,868,451 shares of the company's stock worth $159,535,000 after purchasing an additional 267,845 shares in the last quarter. Finally, Squarepoint Ops LLC acquired a new position in Klaviyo during the fourth quarter worth $2,099,000. 45.43% of the stock is currently 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.