Klaviyo (NYSE:KVYO) Given New $45.00 Price Target at Scotiabank

Klaviyo (NYSE:KVYO - Free Report) had its price target hoisted by Scotiabank from $35.00 to $45.00 in a report issued on Wednesday morning,Benzinga reports. They currently have a sector perform rating on the stock.

Other analysts have also issued research reports about the stock. Canaccord Genuity Group lifted their price objective on shares of Klaviyo from $32.00 to $40.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. KeyCorp upped their target price on shares of Klaviyo from $42.00 to $45.00 and gave the stock an "overweight" rating in a report on Friday, December 13th. Needham & Company LLC boosted their price objective on Klaviyo from $40.00 to $46.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Stifel Nicolaus initiated coverage on Klaviyo in a report on Tuesday, October 22nd. They set a "buy" rating and a $45.00 price objective on the stock. Finally, Wells Fargo & Company lifted their target price on shares of Klaviyo from $37.00 to $41.00 and gave the stock an "equal weight" rating in a research note on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Klaviyo currently has an average rating of "Moderate Buy" and an average target price of $43.18.

Klaviyo Price Performance

NYSE KVYO traded up $0.30 during mid-day trading on Wednesday, reaching $45.92. 1,392,985 shares of the stock were exchanged, compared to its average volume of 999,416. The stock has a market cap of $12.38 billion, a P/E ratio of -255.11 and a beta of 0.57. The stock has a 50 day simple moving average of $40.50 and a 200-day simple moving average of $35.37. Klaviyo has a one year low of $21.26 and a one year high of $47.49.

Klaviyo (NYSE:KVYO - Get Free Report) last issued its earnings results on Wednesday, November 6th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.11 by $0.04. The company had revenue of $235.09 million for the quarter, compared to analysts' expectations of $226.33 million. Klaviyo had a positive return on equity of 0.86% and a negative net margin of 5.23%. Klaviyo's quarterly revenue was up 33.7% compared to the same quarter last year. During the same period last year, the business earned ($1.24) EPS. Sell-side analysts anticipate that Klaviyo will post 0.03 EPS for the current fiscal year.

Insider Activity

In other Klaviyo news, CFO Amanda Whalen sold 1,050 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $40.07, for a total transaction of $42,073.50. Following the sale, the chief financial officer now directly owns 395,616 shares in the company, valued at $15,852,333.12. This represents a 0.26 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Landon Edmond sold 40,000 shares of the company's stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $41.80, for a total transaction of $1,672,000.00. Following the sale, the insider now owns 298,607 shares in the company, valued at $12,481,772.60. The trade was a 11.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 159,072 shares of company stock worth $6,090,767 over the last quarter. 53.24% of the stock is currently owned by corporate insiders.

Institutional Trading of Klaviyo

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KVYO. Advisors Asset Management Inc. lifted its holdings in Klaviyo by 145.6% in the third quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company's stock valued at $48,000 after acquiring an additional 808 shares during the period. nVerses Capital LLC acquired a new stake in Klaviyo during the third quarter worth approximately $53,000. West Tower Group LLC acquired a new stake in shares of Klaviyo during the third quarter worth $177,000. Victory Capital Management Inc. acquired a new position in shares of Klaviyo during the 3rd quarter valued at about $208,000. Finally, William Marsh Rice University purchased a new position in Klaviyo during the third quarter worth approximately $245,000. 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.