Klaviyo (NYSE:KVYO) Given New $40.00 Price Target at Truist Financial

Klaviyo (NYSE:KVYO - Get Free Report) had its price objective decreased by Truist Financial from $55.00 to $40.00 in a research report issued on Wednesday, MarketBeat.com reports. The brokerage currently has a "buy" rating on the stock. Truist Financial's target price would suggest a potential upside of 61.88% from the stock's previous close.

A number of other research analysts have also recently weighed in on the stock. Morgan Stanley boosted their target price on shares of Klaviyo from $47.00 to $50.00 and gave the company an "equal weight" rating in a research note on Thursday, February 20th. Stephens assumed coverage on Klaviyo in a research note on Wednesday, March 19th. They issued an "overweight" rating and a $43.00 target price on the stock. Stifel Nicolaus lifted their price objective on Klaviyo from $45.00 to $54.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. Piper Sandler increased their target price on shares of Klaviyo from $50.00 to $53.00 and gave the stock an "overweight" rating in a research report on Thursday, February 20th. Finally, William Blair reissued an "outperform" rating on shares of Klaviyo in a research report on Thursday, February 20th. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Klaviyo currently has a consensus rating of "Moderate Buy" and a consensus target price of $47.05.

Klaviyo Stock Down 3.7 %

KVYO stock traded down $0.94 during trading on Wednesday, reaching $24.71. The stock had a trading volume of 851,673 shares, compared to its average volume of 1,296,281. The company has a market capitalization of $6.75 billion, a price-to-earnings ratio of -137.28 and a beta of 1.39. Klaviyo has a one year low of $21.26 and a one year high of $49.55. The company's 50 day moving average is $34.44 and its two-hundred day moving average is $38.07.

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 negative net margin of 4.92% and a positive return on equity of 0.89%. The business had revenue of $270.16 million for the quarter, compared to analysts' expectations of $257.24 million. As a group, research analysts predict that Klaviyo will post 0.04 earnings per share for the current fiscal year.

Insider Activity at Klaviyo

In other news, President Stephen Eric Rowland sold 7,060 shares of the business's stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $26.66, for a total value of $188,219.60. Following the sale, the president now directly owns 447,310 shares of the company's stock, valued at $11,925,284.60. The trade was a 1.55 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Jeff Fagnan acquired 3,900 shares of Klaviyo stock in a transaction that occurred on Wednesday, April 9th. The shares were bought at an average cost of $25.77 per share, with a total value of $100,503.00. Following the transaction, the insider now owns 3,900 shares in the company, valued at $100,503. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 2,088,770 shares of company stock worth $67,947,356 over the last quarter. 53.24% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Klaviyo

Several institutional investors and hedge funds have recently modified their holdings of KVYO. CIBC Private Wealth Group LLC increased its stake in Klaviyo by 169.5% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,752 shares of the company's stock valued at $72,000 after purchasing an additional 1,102 shares in the last quarter. Tower Research Capital LLC TRC increased its position in shares of Klaviyo by 77.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,874 shares of the company's stock valued at $77,000 after acquiring an additional 818 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Klaviyo during the fourth quarter valued at approximately $196,000. US Bancorp DE purchased a new position in Klaviyo in the 4th quarter worth approximately $199,000. Finally, Keybank National Association OH bought a new position in Klaviyo in the 4th quarter valued at approximately $203,000. 45.43% of the stock is currently owned by 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.