Klaviyo (NYSE:KVYO) Coverage Initiated at Stifel Nicolaus

Stifel Nicolaus started coverage on shares of Klaviyo (NYSE:KVYO - Free Report) in a research report report published on Tuesday morning, MarketBeat.com reports. The firm issued a buy rating and a $45.00 price objective on the stock.

Other research analysts have also issued reports about the company. Benchmark started coverage on Klaviyo in a research report on Monday, September 30th. They issued a "buy" rating and a $42.00 target price on the stock. Cantor Fitzgerald boosted their price target on Klaviyo from $31.00 to $33.00 and gave the stock an "overweight" rating in a research report on Thursday, August 8th. Wells Fargo & Company reissued a "buy" rating on shares of Klaviyo in a report on Friday. Piper Sandler boosted their target price on Klaviyo from $34.00 to $45.00 and gave the stock an "overweight" rating in a report on Friday. Finally, KeyCorp raised Klaviyo from a "sector weight" rating to an "overweight" rating and set a $33.00 price target on the stock in a research report on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, Klaviyo currently has an average rating of "Moderate Buy" and a consensus price target of $37.38.

Klaviyo Stock Down 0.8 %

Klaviyo stock traded down $0.30 during mid-day trading on Tuesday, hitting $37.71. The company's stock had a trading volume of 678,879 shares, compared to its average volume of 1,130,588. The stock has a market capitalization of $9.98 billion and a P/E ratio of -26.74. The stock's fifty day moving average price is $33.52 and its two-hundred day moving average price is $27.39. Klaviyo has a twelve month low of $21.26 and a twelve month high of $38.50.

Klaviyo (NYSE:KVYO - Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.15 earnings per share for the quarter, beating 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. Klaviyo's revenue for the quarter was up 35.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.09 earnings per share. Equities analysts expect that Klaviyo will post -0.01 earnings per share for the current year.

Insiders Place Their Bets

In other Klaviyo news, President Stephen Eric Rowland sold 18,114 shares of the business's stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $37.19, for a total transaction of $673,659.66. Following the sale, the president now directly owns 192,488 shares of the company's stock, valued at $7,158,628.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In other Klaviyo news, major shareholder Jeff Fagnan acquired 9,485 shares of the business's stock in a transaction dated Thursday, August 1st. The stock was bought at an average cost of $26.43 per share, with a total value of $250,688.55. Following the completion of the transaction, the insider now directly owns 9,485 shares in the company, valued at approximately $250,688.55. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, President Stephen Eric Rowland sold 18,114 shares of the business's stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $37.19, for a total value of $673,659.66. Following the transaction, the president now directly owns 192,488 shares in the company, valued at $7,158,628.72. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 871,477 shares of company stock valued at $27,610,861 in the last quarter. 53.24% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Klaviyo

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Claro Advisors LLC acquired a new stake in shares of Klaviyo during the 1st quarter worth about $23,510,000. Capstone Investment Advisors LLC boosted its holdings in shares of Klaviyo by 17.0% during the first quarter. Capstone Investment Advisors LLC now owns 146,368 shares of the company's stock worth $3,729,000 after acquiring an additional 21,296 shares during the period. Quantbot Technologies LP grew its position in shares of Klaviyo by 82.8% in the first quarter. Quantbot Technologies LP now owns 54,424 shares of the company's stock valued at $1,387,000 after purchasing an additional 24,651 shares during the last quarter. Wealthspire Advisors LLC acquired a new position in shares of Klaviyo in the first quarter valued at approximately $364,000. Finally, Glynn Capital Management LLC increased its stake in shares of Klaviyo by 291.3% during the first quarter. Glynn Capital Management LLC now owns 1,139,307 shares of the company's stock worth $29,030,000 after purchasing an additional 848,152 shares during the period. 45.43% of the stock is 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.