Benchmark Lowers Klaviyo (NYSE:KVYO) Price Target to $40.00

Klaviyo (NYSE:KVYO - Get Free Report) had its target price cut by Benchmark from $42.00 to $40.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a "buy" rating on the stock. Benchmark's price objective indicates a potential upside of 18.06% from the company's current price.

A number of other research firms also recently commented on KVYO. Wells Fargo & Company restated a "buy" rating on shares of Klaviyo in a report on Friday, October 18th. Barclays upped their price objective on Klaviyo from $32.00 to $41.00 and gave the stock an "overweight" rating in a report on Friday, October 11th. Stifel Nicolaus began coverage on shares of Klaviyo in a research report on Tuesday, October 22nd. They set a "buy" rating and a $45.00 price target for the company. Cantor Fitzgerald upped their price target on shares of Klaviyo from $31.00 to $33.00 and gave the stock an "overweight" rating in a research report on Thursday, August 8th. Finally, Piper Sandler upped their price target on shares of Klaviyo from $34.00 to $45.00 and gave the stock an "overweight" rating in a research report on Friday, October 18th. Three equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $39.00.

Klaviyo Stock Down 16.1 %

Shares of KVYO stock traded down $6.48 on Thursday, reaching $33.88. 6,615,905 shares of the stock were exchanged, compared to its average volume of 1,156,957. The stock has a market cap of $9.03 billion, a P/E ratio of -24.08 and a beta of 1.13. The firm has a 50 day moving average of $35.12 and a two-hundred day moving average of $28.55. Klaviyo has a 1-year low of $21.26 and a 1-year high of $41.00.

Klaviyo (NYSE:KVYO - Get Free Report) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.15 EPS for the quarter, topping analysts' consensus estimates of $0.10 by $0.05. The business had revenue of $222.21 million during the quarter, compared to the consensus estimate of $212.34 million. Klaviyo had a negative return on equity of 32.19% and a negative net margin of 42.15%. The business's revenue for the quarter was up 35.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.09 EPS. On average, equities research analysts predict that Klaviyo will post -0.01 EPS for the current fiscal year.

Insider Buying and Selling at Klaviyo

In other Klaviyo news, President Stephen Eric Rowland sold 18,114 shares of the company's stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $31.67, for a total value of $573,670.38. Following the completion of the transaction, the president now directly owns 192,488 shares of the company's stock, valued at $6,096,094.96. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, President Stephen Eric Rowland sold 18,114 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $31.67, for a total transaction of $573,670.38. Following the transaction, the president now owns 192,488 shares of the company's stock, valued at approximately $6,096,094.96. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Summit Partners L. P sold 242,601 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $31.78, for a total transaction of $7,709,859.78. The disclosure for this sale can be found here. Insiders sold a total of 871,477 shares of company stock valued at $27,610,861 in the last ninety days. Insiders own 53.24% of the company's stock.

Hedge Funds Weigh In On Klaviyo

Large investors have recently modified their holdings of the stock. nVerses Capital LLC acquired a new stake in Klaviyo during the third quarter worth about $53,000. EntryPoint Capital LLC acquired a new stake in Klaviyo during the first quarter worth about $71,000. Victory Capital Management Inc. acquired a new stake in Klaviyo during the third quarter worth about $208,000. SG Americas Securities LLC acquired a new stake in Klaviyo during the second quarter worth about $236,000. Finally, William Marsh Rice University acquired a new stake in Klaviyo during the third quarter worth about $245,000. 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.