Macquarie Reiterates "Neutral" Rating for Klaviyo (NYSE:KVYO)

Macquarie reaffirmed their neutral rating on shares of Klaviyo (NYSE:KVYO - Free Report) in a report released on Friday,Benzinga reports. They currently have a $36.00 price objective on the stock.

KVYO has been the topic of several other reports. Benchmark reduced their target price on Klaviyo from $42.00 to $40.00 and set a "buy" rating on the stock in a report on Thursday. Robert W. Baird increased their price objective on shares of Klaviyo from $42.00 to $45.00 and gave the stock an "outperform" rating in a research report on Thursday. KeyCorp raised shares of Klaviyo from a "sector weight" rating to an "overweight" rating and set a $33.00 target price for the company in a research note on Thursday, August 8th. Needham & Company LLC increased their price target on Klaviyo from $40.00 to $46.00 and gave the stock a "buy" rating in a report on Thursday. Finally, Wells Fargo & Company reissued a "buy" rating on shares of Klaviyo in a research report on Friday, October 18th. Three analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $39.00.

Klaviyo Stock Performance

Shares of Klaviyo stock traded down $0.43 on Friday, hitting $33.35. The stock had a trading volume of 2,299,979 shares, compared to its average volume of 895,890. The stock has a 50 day moving average of $35.21 and a 200 day moving average of $28.66. The firm has a market capitalization of $8.89 billion, a P/E ratio of -185.27 and a beta of 1.13. Klaviyo has a twelve month low of $21.26 and a twelve month high of $41.00.

Klaviyo (NYSE:KVYO - Get Free Report) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.05. The firm had revenue of $222.21 million during the quarter, compared to analysts' expectations of $212.34 million. Klaviyo had a negative net margin of 5.23% and a positive return on equity of 0.87%. During the same period in the prior year, the company posted $0.09 EPS. The company's revenue was up 35.0% on a year-over-year basis. Equities analysts expect that Klaviyo will post -0.01 earnings per share for the current year.

Insider Activity at Klaviyo

In other news, CFO Amanda Whalen sold 10,000 shares of the company's stock in a transaction on Friday, September 6th. The shares were sold at an average price of $29.72, for a total value of $297,200.00. Following the completion of the sale, the chief financial officer now owns 422,813 shares in the company, valued at $12,566,002.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Klaviyo news, CFO Amanda Whalen sold 10,000 shares of Klaviyo stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $29.72, for a total transaction of $297,200.00. Following the transaction, the chief financial officer now owns 422,813 shares of the company's stock, valued at $12,566,002.36. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Allen Chaves sold 130,000 shares of the company's stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $31.59, for a total value of $4,106,700.00. The disclosure for this sale can be found here. Insiders have sold a total of 789,711 shares of company stock valued at $25,143,646 over the last 90 days. Insiders own 53.24% of the company's stock.

Institutional Investors Weigh In On Klaviyo

A number of hedge funds have recently made changes to their positions in KVYO. Bank of New York Mellon Corp grew its holdings in Klaviyo by 677.7% during the second quarter. Bank of New York Mellon Corp now owns 2,762,128 shares of the company's stock valued at $68,749,000 after purchasing an additional 2,406,973 shares during the period. SpiderRock Advisors LLC grew its stake in shares of Klaviyo by 1,571.7% during the 3rd quarter. SpiderRock Advisors LLC now owns 501,500 shares of the company's stock worth $17,743,000 after acquiring an additional 471,500 shares during the period. Mayflower Financial Advisors LLC increased its holdings in Klaviyo by 181.4% in the 3rd quarter. Mayflower Financial Advisors LLC now owns 684,948 shares of the company's stock worth $24,233,000 after acquiring an additional 441,500 shares during the last quarter. Millennium Management LLC raised its stake in Klaviyo by 53.6% in the 2nd quarter. Millennium Management LLC now owns 1,120,485 shares of the company's stock valued at $27,889,000 after acquiring an additional 390,849 shares during the period. Finally, Claro Advisors LLC lifted its holdings in Klaviyo by 38.7% during the second quarter. Claro Advisors LLC now owns 1,280,035 shares of the company's stock valued at $31,860,000 after purchasing an additional 357,355 shares during the last quarter. 45.43% of the stock is currently owned by institutional investors.

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.