KeyCorp Increases Klaviyo (NYSE:KVYO) Price Target to $45.00

Klaviyo (NYSE:KVYO - Get Free Report) had its target price lifted by analysts at KeyCorp from $42.00 to $45.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. KeyCorp's price objective would suggest a potential upside of 15.21% from the stock's previous close.

A number of other brokerages also recently commented on KVYO. Macquarie restated a "neutral" rating and issued a $36.00 price objective on shares of Klaviyo in a research report on Friday, November 8th. Stifel Nicolaus began coverage on Klaviyo in a research note on Tuesday, October 22nd. They issued a "buy" rating and a $45.00 price target on the stock. Cantor Fitzgerald increased their price objective on Klaviyo from $33.00 to $47.00 and gave the stock an "overweight" rating in a research report on Thursday, November 7th. 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. 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 note on Friday, October 18th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $39.69.

Klaviyo Price Performance

Shares of NYSE:KVYO traded down $0.18 during trading on Friday, reaching $39.06. The company had a trading volume of 910,807 shares, compared to its average volume of 1,180,864. The stock's fifty day moving average price is $37.41 and its 200 day moving average price is $31.05. Klaviyo has a fifty-two week low of $21.26 and a fifty-two week high of $41.00. The firm has a market capitalization of $10.53 billion, a price-to-earnings ratio of -217.00 and a beta of 0.97.

Klaviyo (NYSE:KVYO - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.15 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts' expectations of $226.33 million. During the same period in the previous year, the company posted ($1.24) EPS. Klaviyo's revenue was up 33.7% compared to the same quarter last year. On average, equities analysts anticipate that Klaviyo will post 0.03 EPS for the current fiscal year.

Insider Activity

In other Klaviyo news, CTO Allen Chaves sold 130,000 shares of the business's stock in a transaction on Monday, September 16th. The stock was sold at an average price of $31.85, for a total value of $4,140,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Amanda Whalen sold 1,050 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $40.07, for a total value of $42,073.50. Following the transaction, the chief financial officer now directly owns 395,616 shares in the company, valued at approximately $15,852,333.12. This represents a 0.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 275,764 shares of company stock worth $9,383,087 over the last three months. 53.24% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Klaviyo

Several large investors have recently added to or reduced their stakes in KVYO. Lisanti Capital Growth LLC purchased a new position in shares of Klaviyo in the 3rd quarter worth $5,513,000. Pier 88 Investment Partners LLC acquired a new stake in Klaviyo during the third quarter worth about $966,000. SpiderRock Advisors LLC raised its holdings in shares of Klaviyo by 1,571.7% in the 3rd quarter. SpiderRock Advisors LLC now owns 501,500 shares of the company's stock worth $17,743,000 after purchasing an additional 471,500 shares during the period. Integrated Wealth Concepts LLC purchased a new position in shares of Klaviyo in the 3rd quarter worth about $5,113,000. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Klaviyo in the 2nd quarter valued at about $747,000. 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.