The Goldman Sachs Group Issues Positive Forecast for Klaviyo (NYSE:KVYO) Stock Price

Klaviyo (NYSE:KVYO - Get Free Report) had its price target boosted by equities research analysts at The Goldman Sachs Group from $45.00 to $51.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a "buy" rating on the stock. The Goldman Sachs Group's price objective indicates a potential upside of 22.05% from the stock's previous close.

A number of other equities analysts also recently weighed in on the company. Scotiabank upped their target price on Klaviyo from $35.00 to $45.00 and gave the company a "sector perform" rating in a report on Wednesday, January 29th. Macquarie reissued a "neutral" rating and issued a $36.00 price objective on shares of Klaviyo in a research report on Friday, November 8th. Robert W. Baird raised their target price on Klaviyo from $52.00 to $54.00 and gave the company an "outperform" rating in a research report on Thursday. Piper Sandler lifted their target price on Klaviyo from $50.00 to $53.00 and gave the stock an "overweight" rating in a research note on Thursday. Finally, Canaccord Genuity Group increased their price target on shares of Klaviyo from $40.00 to $50.00 and gave the company a "buy" rating in a research report on Thursday. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat, Klaviyo currently has an average rating of "Moderate Buy" and an average target price of $49.44.

Klaviyo Stock Down 5.6 %

NYSE:KVYO traded down $2.48 during trading hours on Thursday, hitting $41.79. 2,914,094 shares of the company traded hands, compared to its average volume of 1,316,713. The company has a market cap of $11.27 billion, a PE ratio of -232.14 and a beta of 0.60. The firm's 50-day simple moving average is $43.72 and its 200-day simple moving average is $37.92. Klaviyo has a one year low of $21.26 and a one year high of $49.55.

Klaviyo (NYSE:KVYO - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The company reported ($0.06) earnings per share 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 0.90%. The firm had revenue of $270.16 million for the quarter, compared to the consensus estimate of $257.24 million. As a group, equities research analysts expect that Klaviyo will post 0.04 EPS for the current year.

Insider Buying and Selling at Klaviyo

In other news, CFO Amanda Whalen sold 23,950 shares of Klaviyo stock in a transaction on Friday, December 6th. The stock was sold at an average price of $40.04, for a total value of $958,958.00. Following the completion of the transaction, the chief financial officer now directly owns 395,616 shares in the company, valued at approximately $15,840,464.64. The trade was a 5.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Stephen Eric Rowland sold 4,536 shares of the stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $40.04, for a total value of $181,621.44. Following the sale, the president now directly owns 260,403 shares in the company, valued at $10,426,536.12. This trade represents a 1.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 114,536 shares of company stock valued at $4,720,953 in the last 90 days. 53.24% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Klaviyo

A number of large investors have recently modified their holdings of KVYO. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Klaviyo by 76.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 105,178 shares of the company's stock worth $4,338,000 after acquiring an additional 45,523 shares during the period. Voloridge Investment Management LLC grew its position in shares of Klaviyo by 15.7% during the 4th quarter. Voloridge Investment Management LLC now owns 922,832 shares of the company's stock valued at $38,058,000 after purchasing an additional 125,352 shares in the last quarter. Washington Harbour Partners LP bought a new position in shares of Klaviyo in the fourth quarter worth $1,794,000. Whale Rock Capital Management LLC raised its position in shares of Klaviyo by 7.4% in the fourth quarter. Whale Rock Capital Management LLC now owns 3,868,451 shares of the company's stock worth $159,535,000 after buying an additional 267,845 shares in the last quarter. Finally, Squarepoint Ops LLC bought a new stake in Klaviyo during the fourth quarter valued at $2,099,000. 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.