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

Klaviyo (NYSE:KVYO - Get Free Report) had its price target lifted by equities researchers at Loop Capital from $45.00 to $60.00 in a research note issued to investors on Monday, Marketbeat reports. The firm currently has a "buy" rating on the stock. Loop Capital's target price points to a potential upside of 40.09% from the stock's current price.

Several other research firms also recently commented on KVYO. KeyCorp upped 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. William Blair reissued an "outperform" rating on shares of Klaviyo in a report on Thursday. Canaccord Genuity Group boosted their price objective on Klaviyo from $32.00 to $40.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Stifel Nicolaus began 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. Finally, Barclays boosted their price target on Klaviyo from $32.00 to $41.00 and gave the company an "overweight" rating in a research note on Friday, October 11th. Three equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $40.88.

Klaviyo Trading Down 2.8 %

Shares of KVYO traded down $1.25 during midday trading on Monday, reaching $42.83. The stock had a trading volume of 1,069,066 shares, compared to its average volume of 1,206,327. The firm has a market cap 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 200-day simple moving average of $31.88. Klaviyo has a one year low of $21.26 and a one year high of $44.77.

Klaviyo (NYSE:KVYO - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.15 earnings per share for the quarter, topping analysts' consensus estimates of $0.11 by $0.04. Klaviyo had a positive return on equity of 0.86% and a negative net margin of 5.23%. The firm had revenue of $235.09 million for the quarter, compared to the consensus estimate of $226.33 million. During the same quarter in the previous year, the business earned ($1.24) earnings per share. The business's revenue was up 33.7% compared to the same quarter last year. As a group, research analysts forecast that Klaviyo will post 0.03 EPS for the current fiscal year.

Insider Buying and Selling at Klaviyo

In related news, CFO Amanda Whalen sold 10,000 shares of Klaviyo stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $35.36, for a total transaction of $353,600.00. Following the sale, the chief financial officer now directly owns 422,813 shares of the company's stock, valued at approximately $14,950,667.68. The trade was a 2.31 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Landon Edmond sold 40,000 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were 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. The trade was a 14.46 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 127,650 shares of company stock valued at $4,676,705. 53.24% of the stock is currently owned by corporate insiders.

Institutional Trading of Klaviyo

Hedge funds and other institutional investors have recently made changes to their positions in the company. Advisors Asset Management Inc. grew its stake in shares of Klaviyo by 145.6% in the third quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company's stock worth $48,000 after purchasing an additional 808 shares during the last quarter. nVerses Capital LLC bought a new stake in shares of Klaviyo in the 3rd quarter valued at about $53,000. Dark Forest Capital Management LP increased its stake in shares of Klaviyo by 13.7% in the second quarter. Dark Forest Capital Management LP now owns 23,689 shares of the company's stock valued at $590,000 after buying an additional 2,851 shares during the period. West Tower Group LLC bought a new position in shares of Klaviyo during the third quarter worth about $177,000. Finally, Victory Capital Management Inc. bought a new position in shares of Klaviyo during the third quarter worth about $208,000. 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.