Klaviyo (NYSE:KVYO) Hits New 12-Month High Following Analyst Upgrade

Klaviyo, Inc. (NYSE:KVYO - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Monday after Loop Capital raised their price target on the stock from $45.00 to $60.00. Loop Capital currently has a buy rating on the stock. Klaviyo traded as high as $46.00 and last traded at $46.00, with a volume of 2739 shares trading hands. The stock had previously closed at $44.08.

KVYO has been the subject of several other reports. William Blair restated an "outperform" rating on shares of Klaviyo in a research report on Thursday. Stifel Nicolaus assumed coverage on Klaviyo in a research note on Tuesday, October 22nd. They set a "buy" rating and a $45.00 target price on the stock. Robert W. Baird lifted their target price on Klaviyo from $42.00 to $45.00 and gave the company an "outperform" rating in a research report on Thursday, November 7th. Benchmark reduced their price target on shares of Klaviyo from $42.00 to $40.00 and set a "buy" rating on the stock in a research report on Thursday, November 7th. Finally, KeyCorp lifted their price objective on shares of Klaviyo from $42.00 to $45.00 and gave the company an "overweight" rating in a report on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Klaviyo has an average rating of "Moderate Buy" and an average price target of $40.88.

Insider Activity

In related news, President Stephen Eric Rowland sold 18,114 shares of Klaviyo stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $37.19, for a total transaction of $673,659.66. Following the sale, the president now directly owns 192,488 shares in the company, valued at $7,158,628.72. This trade represents a 8.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Amanda Whalen sold 15,000 shares of the company's stock in a transaction on Friday, December 13th. The shares were sold at an average price of $39.39, for a total transaction of $590,850.00. Following the completion of the transaction, the chief financial officer now owns 391,820 shares of the company's stock, valued at $15,433,789.80. This represents a 3.69 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 127,650 shares of company stock worth $4,676,705. 53.24% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in KVYO. Barclays PLC grew its position in Klaviyo by 1,202.0% during the 3rd quarter. Barclays PLC now owns 12,825 shares of the company's stock worth $453,000 after purchasing an additional 11,840 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Klaviyo by 45.1% during the third quarter. Geode Capital Management LLC now owns 786,186 shares of the company's stock worth $27,827,000 after buying an additional 244,447 shares during the period. Main Management ETF Advisors LLC acquired a new stake in shares of Klaviyo during the third quarter worth about $1,126,000. XTX Topco Ltd grew its holdings in shares of Klaviyo by 79.7% during the third quarter. XTX Topco Ltd now owns 43,775 shares of the company's stock worth $1,549,000 after buying an additional 19,412 shares during the last quarter. Finally, Whale Rock Capital Management LLC increased its position in Klaviyo by 608.9% in the 3rd quarter. Whale Rock Capital Management LLC now owns 3,600,606 shares of the company's stock valued at $127,389,000 after acquiring an additional 3,092,725 shares during the period. Institutional investors and hedge funds own 45.43% of the company's stock.

Klaviyo Trading Down 2.8 %

The company has a market capitalization of $11.55 billion, a PE ratio of -237.93 and a beta of 0.97. The firm has a 50 day simple moving average of $38.09 and a two-hundred day simple moving average of $31.88.

Klaviyo (NYSE:KVYO - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.15 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $235.09 million during the quarter, compared to analysts' expectations of $226.33 million. During the same period in the prior year, the company posted ($1.24) earnings per share. The firm's revenue for the quarter was up 33.7% on a year-over-year basis. Research analysts expect that Klaviyo, Inc. will post 0.03 earnings per share for the current fiscal year.

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.