Klaviyo (NYSE:KVYO) Stock Rating Reaffirmed by Benchmark

Benchmark reaffirmed their buy rating on shares of Klaviyo (NYSE:KVYO - Free Report) in a research note released on Thursday morning, Benzinga reports. The firm currently has a $42.00 target price on the stock.

Several other brokerages have also recently weighed in on KVYO. Needham & Company LLC restated a "buy" rating and set a $40.00 target price on shares of Klaviyo in a report on Wednesday, September 4th. Wells Fargo & Company reiterated a "buy" rating on shares of Klaviyo in a report on Friday, October 18th. Robert W. Baird raised their target price on Klaviyo from $35.00 to $42.00 and gave the stock an "outperform" rating in a research note on Thursday, October 10th. Cantor Fitzgerald upped 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. Finally, Barclays boosted their price objective on shares of Klaviyo from $32.00 to $41.00 and gave the company an "overweight" rating in a report on Friday, October 11th. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $37.38.

Klaviyo Trading Up 1.1 %

NYSE:KVYO traded up $0.43 during trading hours on Thursday, hitting $38.70. 827,781 shares of the stock were exchanged, compared to its average volume of 1,130,660. The firm's fifty day moving average price is $33.68 and its 200 day moving average price is $27.47. Klaviyo has a 52-week low of $21.26 and a 52-week high of $39.19. The company has a market cap of $10.24 billion and a P/E ratio of -27.41.

Klaviyo (NYSE:KVYO - Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.15 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $222.21 million during the quarter, compared to analysts' expectations of $212.34 million. During the same period in the previous year, the business earned $0.09 earnings per share. The firm's revenue for the quarter was up 35.0% on a year-over-year basis. Equities analysts expect that Klaviyo will post -0.01 EPS for the current fiscal year.

Insider Buying and Selling

In other Klaviyo news, President Stephen Eric Rowland sold 18,114 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the president now 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, major shareholder Summit Partners L. P sold 242,601 shares of the business's stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $31.78, for a total transaction of $7,709,859.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Stephen Eric Rowland sold 18,114 shares of the stock in a transaction that occurred 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 completion of the transaction, the president now owns 192,488 shares in the company, valued at $7,158,628.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 871,477 shares of company stock worth $27,610,861. Company insiders own 53.24% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of KVYO. Bank of New York Mellon Corp increased its position in shares of Klaviyo by 677.7% during the second quarter. Bank of New York Mellon Corp now owns 2,762,128 shares of the company's stock worth $68,749,000 after purchasing an additional 2,406,973 shares in the last quarter. Claro Advisors LLC purchased a new stake in Klaviyo in the first quarter valued at approximately $23,510,000. Glynn Capital Management LLC grew its position 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 acquiring an additional 848,152 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Klaviyo by 53.6% in the 2nd quarter. Millennium Management LLC now owns 1,120,485 shares of the company's stock valued at $27,889,000 after acquiring an additional 390,849 shares during the period. Finally, Whale Rock Capital Management LLC raised its position in Klaviyo by 122.0% in the 1st quarter. Whale Rock Capital Management LLC now owns 579,113 shares of the company's stock valued at $14,756,000 after purchasing an additional 318,217 shares during the last quarter. 45.43% of the stock is owned by hedge funds and other 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.