Klaviyo (NYSE:KVYO) Hits New 52-Week High on Analyst Upgrade

Klaviyo, Inc. (NYSE:KVYO - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Monday after KeyCorp raised their price target on the stock from $42.00 to $45.00. KeyCorp currently has an overweight rating on the stock. Klaviyo traded as high as $41.48 and last traded at $41.45, with a volume of 1260827 shares traded. The stock had previously closed at $39.06.

Other equities analysts have also issued reports about the company. Robert W. Baird raised their target price on Klaviyo from $42.00 to $45.00 and gave the company an "outperform" rating in a report on Thursday, November 7th. Cantor Fitzgerald raised their price objective on Klaviyo from $33.00 to $47.00 and gave the company an "overweight" rating in a research note on Thursday, November 7th. Stifel Nicolaus began coverage on Klaviyo in a research report on Tuesday, October 22nd. They set a "buy" rating and a $45.00 target price for the company. Benchmark lowered their price target on Klaviyo from $42.00 to $40.00 and set a "buy" rating on the stock in a report on Thursday, November 7th. Finally, Piper Sandler boosted their price objective on shares of Klaviyo from $34.00 to $45.00 and gave the stock an "overweight" rating in a research note on Friday, October 18th. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $39.69.

Insider Transactions at Klaviyo

In other news, insider Landon Edmond sold 40,000 shares of the business'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 $1,382,400.00. Following the transaction, the insider now directly owns 236,621 shares of the company's stock, valued at $8,177,621.76. The trade was a 14.46 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Stephen Eric Rowland sold 4,536 shares of the firm's stock in a transaction on Monday, November 18th. The shares were sold at an average price of $34.56, for a total value of $156,764.16. Following the sale, the president now directly owns 186,785 shares of the company's stock, valued at $6,455,289.60. This represents a 2.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 127,650 shares of company stock valued at $4,676,705. Corporate insiders own 53.24% of the company's stock.

Hedge Funds Weigh In On Klaviyo

A number of institutional investors and hedge funds have recently bought and sold shares of KVYO. Whale Rock Capital Management LLC raised its position in Klaviyo by 608.9% in the 3rd quarter. Whale Rock Capital Management LLC now owns 3,600,606 shares of the company's stock worth $127,389,000 after purchasing an additional 3,092,725 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Klaviyo by 677.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,762,128 shares of the company's stock valued at $68,749,000 after buying an additional 2,406,973 shares during the period. SpiderRock Advisors LLC raised its position in shares of Klaviyo by 1,571.7% during the third quarter. SpiderRock Advisors LLC now owns 501,500 shares of the company's stock worth $17,743,000 after acquiring an additional 471,500 shares during the last quarter. Mayflower Financial Advisors LLC lifted its stake in shares of Klaviyo by 181.4% during the third quarter. Mayflower Financial Advisors LLC now owns 684,948 shares of the company's stock valued at $24,233,000 after acquiring an additional 441,500 shares during the period. Finally, Millennium Management LLC boosted its holdings in Klaviyo by 53.6% in the second quarter. Millennium Management LLC now owns 1,120,485 shares of the company's stock valued at $27,889,000 after acquiring an additional 390,849 shares during the last quarter. Institutional investors and hedge funds own 45.43% of the company's stock.

Klaviyo Price Performance

The stock has a market capitalization of $11.22 billion, a price-to-earnings ratio of -231.28 and a beta of 0.97. The stock has a 50-day moving average of $37.54 and a 200 day moving average of $31.29.

Klaviyo (NYSE:KVYO - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.15 EPS for the quarter, topping 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 company had revenue of $235.09 million during the quarter, compared to analysts' expectations of $226.33 million. During the same quarter in the previous year, the company earned ($1.24) EPS. Klaviyo's revenue was up 33.7% on a year-over-year basis. Sell-side analysts anticipate that Klaviyo, Inc. will post 0.03 earnings per share for the current fiscal year.

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.