Stephens Initiates Coverage on Klaviyo (NYSE:KVYO)

Stock analysts at Stephens initiated coverage on shares of Klaviyo (NYSE:KVYO - Get Free Report) in a research report issued on Wednesday, Marketbeat Ratings reports. The firm set an "overweight" rating and a $43.00 price target on the stock. Stephens' price target indicates a potential upside of 30.33% from the stock's current price.

KVYO has been the topic of a number of other research reports. Piper Sandler increased their price objective on shares of Klaviyo from $50.00 to $53.00 and gave the stock an "overweight" rating in a report on Thursday, February 20th. Robert W. Baird raised their target price on shares of Klaviyo from $52.00 to $54.00 and gave the company an "outperform" rating in a research note on Thursday, February 20th. KeyCorp raised their target price on shares of Klaviyo from $42.00 to $45.00 and gave the company an "overweight" rating in a research note on Friday, December 13th. Wells Fargo & Company lowered their target price on shares of Klaviyo from $48.00 to $45.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 20th. Finally, Canaccord Genuity Group raised their target price on shares of Klaviyo from $40.00 to $50.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $49.89.

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Klaviyo Price Performance

Shares of KVYO stock traded up $0.08 during trading hours on Wednesday, reaching $32.99. The stock had a trading volume of 887,667 shares, compared to its average volume of 1,199,659. Klaviyo has a twelve month low of $21.26 and a twelve month high of $49.55. The firm has a 50-day simple moving average of $41.23 and a 200-day simple moving average of $38.77. The firm has a market capitalization of $9.01 billion, a PE ratio of -183.30 and a beta of 0.86.

Klaviyo (NYSE:KVYO - Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The company reported ($0.06) earnings per share for the quarter, missing analysts' consensus estimates of $0.06 by ($0.12). Klaviyo had a positive return on equity of 0.89% and a negative net margin of 4.92%. The firm had revenue of $270.16 million during the quarter, compared to analyst estimates of $257.24 million. On average, equities analysts anticipate that Klaviyo will post 0.04 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Landon Edmond sold 40,000 shares of the firm's stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $41.80, for a total transaction of $1,672,000.00. Following the transaction, the insider now owns 298,607 shares of the company's stock, valued at approximately $12,481,772.60. This trade represents a 11.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Summit Partners L. P sold 2,000,000 shares of the firm's stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $32.44, for a total transaction of $64,880,000.00. The disclosure for this sale can be found here. Insiders sold a total of 2,126,246 shares of company stock worth $69,799,958 over the last ninety days. 53.24% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Klaviyo

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KVYO. Victory Capital Management Inc. bought a new position in Klaviyo during the third quarter valued at approximately $208,000. Advisors Asset Management Inc. raised its position in Klaviyo by 145.6% during the third quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company's stock valued at $48,000 after acquiring an additional 808 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Klaviyo by 27.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 424,357 shares of the company's stock valued at $15,014,000 after purchasing an additional 91,824 shares during the period. West Tower Group LLC bought a new position in shares of Klaviyo in the third quarter valued at approximately $177,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Klaviyo in the third quarter valued at approximately $481,000. Institutional investors own 45.43% of the company's stock.

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.