Citigroup Forecasts Strong Price Appreciation for Klaviyo (NYSE:KVYO) Stock

Klaviyo (NYSE:KVYO - Free Report) had its target price hoisted by Citigroup from $39.00 to $48.00 in a report issued on Tuesday,Benzinga reports. Citigroup currently has a neutral rating on the stock.

Several other research analysts have also commented on KVYO. Needham & Company LLC raised their price target on shares of Klaviyo from $40.00 to $46.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Cantor Fitzgerald raised their price target on shares of Klaviyo from $33.00 to $47.00 and gave the company an "overweight" rating in a report on Thursday, November 7th. Loop Capital increased their price objective on shares of Klaviyo from $45.00 to $60.00 and gave the company a "buy" rating in a research report on Monday, December 23rd. Benchmark lowered their price objective on shares of Klaviyo from $42.00 to $40.00 and set a "buy" rating for the company in a research report on Thursday, November 7th. Finally, William Blair reaffirmed an "outperform" rating on shares of Klaviyo in a research report on Thursday, December 19th. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $44.29.

Klaviyo Price Performance

NYSE KVYO traded down $1.22 during mid-day trading on Tuesday, hitting $46.78. The company's stock had a trading volume of 952,347 shares, compared to its average volume of 1,062,051. Klaviyo has a 52-week low of $21.26 and a 52-week high of $49.55. The stock's fifty day simple moving average is $42.96 and its two-hundred day simple moving average is $37.06. The firm has a market capitalization of $12.61 billion, a P/E ratio of -261.17 and a beta of 0.60.

Insider Transactions at Klaviyo

In other Klaviyo news, President Stephen Eric Rowland sold 4,536 shares of Klaviyo 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 completion of the transaction, the president now owns 186,785 shares of the company's stock, valued at $6,455,289.60. The trade was a 2.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Landon Edmond sold 40,000 shares of Klaviyo stock in a transaction on Monday, November 18th. The stock was sold at an average price of $34.56, for a total transaction of $1,382,400.00. Following the completion of the transaction, the insider now directly owns 236,621 shares of the company's stock, valued at approximately $8,177,621.76. This represents a 14.46 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 174,072 shares of company stock valued at $6,778,517. 53.24% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Klaviyo

A number of hedge funds have recently added to or reduced their stakes in KVYO. Creative Planning acquired a new position in Klaviyo in the third quarter worth $254,000. Cabot Wealth Management Inc. lifted its stake in Klaviyo by 101.1% in the third quarter. Cabot Wealth Management Inc. now owns 90,425 shares of the company's stock valued at $3,199,000 after buying an additional 45,451 shares during the last quarter. Renaissance Capital LLC lifted its stake in Klaviyo by 134.6% in the third quarter. Renaissance Capital LLC now owns 78,401 shares of the company's stock valued at $2,774,000 after buying an additional 44,977 shares during the last quarter. William Marsh Rice University bought a new stake in Klaviyo in the third quarter valued at $245,000. Finally, nVerses Capital LLC bought a new stake in Klaviyo in the third quarter valued at $53,000. Institutional investors and hedge funds 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.