Macquarie Begins Coverage on Klaviyo (NYSE:KVYO)

Macquarie began coverage on shares of Klaviyo (NYSE:KVYO - Free Report) in a research report report published on Thursday morning, MarketBeat reports. The firm issued a neutral rating and a $36.00 price target on the stock.

Other equities research analysts have also recently issued research reports about the company. Needham & Company LLC reaffirmed a "buy" rating and set a $40.00 price target on shares of Klaviyo in a report on Wednesday, September 4th. Barclays lifted their price target on Klaviyo from $32.00 to $41.00 and gave the company an "overweight" rating in a report on Friday, October 11th. Benchmark reaffirmed a "buy" rating and set a $42.00 price target on shares of Klaviyo in a report on Thursday, October 24th. Wells Fargo & Company reaffirmed a "buy" rating on shares of Klaviyo in a report on Friday, October 18th. Finally, KeyCorp raised Klaviyo from a "sector weight" rating to an "overweight" rating and set a $33.00 target price on the stock in a report on Thursday, August 8th. Three research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $37.29.

Klaviyo Stock Down 1.6 %

Shares of Klaviyo stock traded down $0.61 during trading hours on Thursday, hitting $38.01. 834,180 shares of the company's stock traded hands, compared to its average volume of 1,119,615. The stock has a 50 day simple moving average of $34.52 and a 200-day simple moving average of $28.06. The company has a market cap of $10.14 billion and a PE ratio of -26.96. Klaviyo has a twelve month low of $21.26 and a twelve month high of $39.92.

Klaviyo (NYSE:KVYO - Get Free Report) last issued its earnings results on Wednesday, August 7th. The company reported $0.15 EPS 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 company had revenue of $222.21 million during the quarter, compared to the consensus estimate of $212.34 million. During the same period in the previous year, the firm posted $0.09 earnings per share. Klaviyo's quarterly revenue was up 35.0% compared to the same quarter last year.

Insider Activity

In other news, President Stephen Eric Rowland sold 18,114 shares of the business's stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $37.19, for a total transaction 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 position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, President Stephen Eric Rowland sold 18,114 shares of Klaviyo stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $37.19, for a total value of $673,659.66. Following the completion of the sale, the president now owns 192,488 shares of the company's stock, valued at approximately $7,158,628.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Amanda Whalen sold 60,000 shares of Klaviyo stock in a transaction on Friday, August 9th. The shares were sold at an average price of $30.23, for a total transaction of $1,813,800.00. Following the completion of the sale, the chief financial officer now directly owns 435,993 shares of the company's stock, valued at approximately $13,180,068.39. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 871,477 shares of company stock worth $27,610,861 in the last ninety days. Corporate insiders own 53.24% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. nVerses Capital LLC acquired a new position in shares of Klaviyo during the third quarter valued at about $53,000. William Marsh Rice University bought a new stake in Klaviyo in the third quarter valued at about $245,000. Renaissance Capital LLC increased its stake in Klaviyo by 134.6% in the third quarter. Renaissance Capital LLC now owns 78,401 shares of the company's stock valued at $2,774,000 after acquiring an additional 44,977 shares during the period. Cabot Wealth Management Inc. increased its stake in Klaviyo by 101.1% in the third quarter. Cabot Wealth Management Inc. now owns 90,425 shares of the company's stock valued at $3,199,000 after acquiring an additional 45,451 shares during the period. Finally, Creative Planning bought a new stake in Klaviyo in the third quarter valued at about $254,000. Institutional investors and hedge funds own 45.43% of the company's stock.

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.