Klaviyo (NYSE:KVYO) Price Target Increased to $45.00 by Analysts at Piper Sandler

Klaviyo (NYSE:KVYO - Free Report) had its price target boosted by Piper Sandler from $34.00 to $45.00 in a research note published on Friday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Other equities analysts also recently issued reports about the stock. Barclays increased their price objective on shares of Klaviyo from $32.00 to $41.00 and gave the stock an "overweight" rating in a research note on Friday, October 11th. Cantor Fitzgerald raised their price target on Klaviyo from $31.00 to $33.00 and gave the company an "overweight" rating in a research note on Thursday, August 8th. Wells Fargo & Company assumed coverage on Klaviyo in a research note on Wednesday. They set an "equal weight" rating and a $37.00 price objective on the stock. 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. Finally, Robert W. Baird boosted their target price on shares of Klaviyo from $35.00 to $42.00 and gave the stock an "outperform" rating in a report on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Klaviyo has an average rating of "Moderate Buy" and an average target price of $36.87.

Klaviyo Stock Performance

Klaviyo stock traded up $0.15 during midday trading on Friday, reaching $37.51. The stock had a trading volume of 670,258 shares, compared to its average volume of 1,135,820. The stock has a market capitalization of $9.92 billion and a P/E ratio of -26.60. The firm's fifty day simple moving average is $33.27 and its 200-day simple moving average is $27.16. Klaviyo has a 1-year low of $21.26 and a 1-year high of $38.50.

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

Insiders Place Their Bets

In other Klaviyo news, major shareholder Summit Partners L. P sold 1,300 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $31.64, for a total transaction of $41,132.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Klaviyo news, major shareholder Summit Partners L. P sold 1,300 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $31.64, for a total transaction of $41,132.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Jeff Fagnan purchased 9,485 shares of the company's stock in a transaction dated Thursday, August 1st. The stock was acquired at an average price of $26.43 per share, with a total value of $250,688.55. Following the completion of the transaction, the insider now owns 9,485 shares of the company's stock, valued at $250,688.55. The disclosure for this purchase can be found here. Insiders sold 871,477 shares of company stock worth $27,610,861 over the last three months. Insiders own 53.24% of the company's stock.

Institutional Trading of Klaviyo

Several large investors have recently modified their holdings of KVYO. nVerses Capital LLC acquired a new position in Klaviyo in the third quarter valued at about $53,000. William Marsh Rice University bought a new position in Klaviyo in the 3rd quarter valued at about $245,000. Renaissance Capital LLC raised its position in shares of Klaviyo by 134.6% in the 3rd quarter. Renaissance Capital LLC now owns 78,401 shares of the company's stock valued at $2,774,000 after buying an additional 44,977 shares in the last quarter. Cabot Wealth Management Inc. lifted its holdings in shares of Klaviyo by 101.1% during the 3rd quarter. Cabot Wealth Management Inc. now owns 90,425 shares of the company's stock worth $3,199,000 after acquiring an additional 45,451 shares during the period. Finally, Creative Planning bought a new stake in shares of Klaviyo during the 3rd quarter worth approximately $254,000. 45.43% of the stock is owned by institutional investors and hedge funds.

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.