Klaviyo (NYSE:KVYO) Stock Rating Upgraded by Macquarie

Macquarie upgraded shares of Klaviyo (NYSE:KVYO - Free Report) to a hold rating in a research note issued to investors on Wednesday, Zacks.com reports.

A number of other brokerages have also recently commented on KVYO. Piper Sandler raised their price objective on shares of Klaviyo from $34.00 to $45.00 and gave the stock an "overweight" rating in a research note on Friday, October 18th. Benchmark restated a "buy" rating and set a $42.00 price target on shares of Klaviyo in a research report on Thursday, October 24th. Stifel Nicolaus initiated coverage on shares of Klaviyo in a research report on Tuesday, October 22nd. They issued a "buy" rating and a $45.00 price objective for the company. Barclays raised their target price on Klaviyo from $32.00 to $41.00 and gave the company an "overweight" rating in a research report on Friday, October 11th. Finally, Robert W. Baird upped their price target on Klaviyo from $35.00 to $42.00 and gave the stock an "outperform" rating in a report on Thursday, October 10th. Three research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $37.29.

Klaviyo Trading Up 4.2 %

Shares of NYSE KVYO traded up $1.61 during midday trading on Wednesday, reaching $39.64. The company had a trading volume of 837,430 shares, compared to its average volume of 1,117,255. The business's 50-day simple moving average is $34.52 and its 200 day simple moving average is $28.06. Klaviyo has a 1 year low of $21.26 and a 1 year high of $39.93. The stock has a market cap of $10.57 billion and a P/E ratio of -26.96.

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 net margin of 42.15% and a negative return on equity of 32.19%. The company had revenue of $222.21 million during the quarter, compared to analyst estimates of $212.34 million. During the same period last year, the firm posted $0.09 EPS. Klaviyo's revenue for the quarter was up 35.0% compared to the same quarter last year. Analysts predict that Klaviyo will post -0.01 earnings per share for the current year.

Insider Activity

In other Klaviyo news, major shareholder Summit Partners L. P sold 242,601 shares of Klaviyo stock in a transaction on Friday, August 16th. The stock was sold at an average price of $31.78, for a total value of $7,709,859.78. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, major shareholder Summit Partners L. P sold 1,300 shares of the stock in a transaction dated 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 legal filing with the SEC, which is available at this link. Also, major shareholder Summit Partners L. P sold 242,601 shares of Klaviyo stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $31.78, for a total transaction of $7,709,859.78. 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 90 days. Company insiders own 53.24% of the company's stock.

Hedge Funds Weigh In On Klaviyo

Institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp raised its holdings in Klaviyo by 677.7% in the second quarter. Bank of New York Mellon Corp now owns 2,762,128 shares of the company's stock valued at $68,749,000 after acquiring an additional 2,406,973 shares in the last quarter. Clearbridge Investments LLC lifted its position in shares of Klaviyo by 1.5% during the 1st quarter. Clearbridge Investments LLC now owns 2,205,684 shares of the company's stock worth $56,201,000 after purchasing an additional 31,587 shares during the last quarter. Glynn Capital Management LLC grew its stake in shares of Klaviyo by 19.7% during the second quarter. Glynn Capital Management LLC now owns 1,363,768 shares of the company's stock worth $33,944,000 after purchasing an additional 224,461 shares in the last quarter. Claro Advisors LLC increased its holdings in Klaviyo by 38.7% in the second quarter. Claro Advisors LLC now owns 1,280,035 shares of the company's stock valued at $31,860,000 after buying an additional 357,355 shares during the last quarter. Finally, Millennium Management LLC raised its stake in Klaviyo by 53.6% in the second quarter. Millennium Management LLC now owns 1,120,485 shares of the company's stock valued at $27,889,000 after buying an additional 390,849 shares in the last quarter. Institutional investors and hedge funds own 45.43% of the company's stock.

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.