Klaviyo (NYSE:KVYO) Sets New 52-Week High on Analyst Upgrade

Shares of Klaviyo, Inc. (NYSE:KVYO - Get Free Report) reached a new 52-week high during mid-day trading on Friday after Piper Sandler raised their price target on the stock from $34.00 to $45.00. Piper Sandler currently has an overweight rating on the stock. Klaviyo traded as high as $38.40 and last traded at $38.40, with a volume of 51406 shares. The stock had previously closed at $37.36.

Other equities analysts also recently issued reports about the company. Cantor Fitzgerald lifted their target price on Klaviyo from $31.00 to $33.00 and gave the company an "overweight" rating in a research report on Thursday, August 8th. Benchmark started coverage on Klaviyo in a research report on Monday, September 30th. They set a "buy" rating and a $42.00 target price on the stock. Needham & Company LLC reiterated a "buy" rating and set a $40.00 target price on shares of Klaviyo in a research report on Wednesday, September 4th. KeyCorp upgraded Klaviyo from a "sector weight" rating to an "overweight" rating and set a $33.00 target price on the stock in a research report on Thursday, August 8th. Finally, Robert W. Baird boosted their price objective on Klaviyo from $35.00 to $42.00 and gave the company an "outperform" rating in a research report on Thursday, October 10th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, Klaviyo has a consensus rating of "Moderate Buy" and a consensus price target of $36.87.

Insider Transactions at Klaviyo

In other news, major shareholder Jeff Fagnan bought 9,485 shares of Klaviyo stock in a transaction dated Thursday, August 1st. The shares were purchased at an average cost of $26.43 per share, with a total value of $250,688.55. Following the completion of the acquisition, the insider now owns 9,485 shares of the company's stock, valued at $250,688.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Klaviyo news, CTO Allen Chaves sold 130,000 shares of the business's stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $31.59, for a total transaction of $4,106,700.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Jeff Fagnan acquired 9,485 shares of Klaviyo stock in a transaction on Thursday, August 1st. The shares were bought at an average cost of $26.43 per share, for a total transaction of $250,688.55. Following the completion of the purchase, the insider now directly owns 9,485 shares of the company's stock, valued at $250,688.55. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 871,477 shares of company stock valued at $27,610,861. 53.24% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Salem Investment Counselors Inc. boosted its position in shares of Klaviyo by 161.1% during the first quarter. Salem Investment Counselors Inc. now owns 2,350 shares of the company's stock valued at $60,000 after buying an additional 1,450 shares during the period. nVerses Capital LLC bought a new position in Klaviyo in the third quarter worth approximately $53,000. EntryPoint Capital LLC purchased a new position in Klaviyo during the 1st quarter worth $71,000. Dark Forest Capital Management LP raised its position in Klaviyo by 13.7% during the 2nd quarter. Dark Forest Capital Management LP now owns 23,689 shares of the company's stock valued at $590,000 after purchasing an additional 2,851 shares in the last quarter. Finally, Arizona State Retirement System grew its position in shares of Klaviyo by 67.1% during the 2nd quarter. Arizona State Retirement System now owns 16,221 shares of the company's stock worth $404,000 after buying an additional 6,512 shares in the last quarter. Hedge funds and other institutional investors own 45.43% of the company's stock.

Klaviyo Trading Up 0.4 %

The business has a 50-day moving average price of $33.14 and a 200-day moving average price of $27.08. The firm has a market cap of $9.92 billion and a P/E ratio of -26.52.

Klaviyo (NYSE:KVYO - Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.10 by $0.05. Klaviyo had a negative return on equity of 32.19% and a negative net margin of 42.15%. The business had revenue of $222.21 million for the quarter, compared to the consensus estimate of $212.34 million. During the same quarter in the prior year, the company earned $0.09 EPS. The business's revenue was up 35.0% compared to the same quarter last year. On average, equities analysts anticipate that Klaviyo, Inc. will post -0.01 earnings per share for the current fiscal year.

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.