Klaviyo (NYSE:KVYO) Price Target Raised to $42.00

Klaviyo (NYSE:KVYO) had its price target boosted by Robert W. Baird from $35.00 to $42.00 in a research report sent to investors on Thursday, Benzinga reports. They currently have an outperform rating on the stock.

Several other analysts have also recently issued reports on the stock. KeyCorp upgraded shares of Klaviyo from a sector weight rating to an overweight rating and set a $33.00 target price on the stock in a research report on Thursday, August 8th. Cantor Fitzgerald upped their price objective on Klaviyo from $31.00 to $33.00 and gave the company an overweight rating in a research report on Thursday, August 8th. Needham & Company LLC reiterated a buy rating and issued a $40.00 target price on shares of Klaviyo in a report on Wednesday, September 4th. Benchmark started coverage on Klaviyo in a report on Monday, September 30th. They set a buy rating and a $42.00 price target on the stock. Finally, Piper Sandler lifted their price objective on shares of Klaviyo from $30.00 to $34.00 and gave the stock an overweight rating in a research note on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $36.89.

Klaviyo Price Performance

NYSE KVYO opened at $37.00 on Thursday. Klaviyo has a 1-year low of $21.26 and a 1-year high of $37.64. The business has a 50 day simple moving average of $32.15 and a two-hundred day simple moving average of $26.77. The stock has a market capitalization of $9.87 billion and a PE ratio of -26.24.

Klaviyo (NYSE:KVYO) last posted its 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. The firm had revenue of $222.21 million during the quarter, compared to analyst estimates of $212.34 million. Klaviyo had a negative net margin of 42.15% and a negative return on equity of 32.19%. Klaviyo’s revenue for the quarter was up 35.0% compared to the same quarter last year. During the same period last year, the firm posted $0.09 earnings per share. On average, analysts anticipate that Klaviyo will post -0.01 EPS for the current fiscal year.

Insider Activity at Klaviyo

In other Klaviyo news, CTO Allen Chaves sold 130,000 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $31.59, for a total transaction of $4,106,700.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Klaviyo news, CTO Allen Chaves sold 130,000 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $31.59, for a total transaction of $4,106,700.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Summit Partners L. P sold 242,601 shares of the firm’s stock in a transaction dated 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. Over the last quarter, insiders sold 853,363 shares of company stock worth $26,937,202. Company insiders own 53.24% of the company’s stock.

Hedge Funds Weigh In On Klaviyo

Large investors have recently bought and sold shares of the business. Salem Investment Counselors Inc. increased its holdings in shares of Klaviyo by 161.1% in the 1st quarter. Salem Investment Counselors Inc. now owns 2,350 shares of the company’s stock valued at $60,000 after acquiring an additional 1,450 shares during the period. EntryPoint Capital LLC purchased a new stake in shares of Klaviyo during the 1st quarter worth $71,000. SG Americas Securities LLC purchased a new position in Klaviyo in the second quarter valued at about $236,000. Creative Planning purchased a new position in Klaviyo in the third quarter valued at about $254,000. Finally, SVB Wealth LLC bought a new position in Klaviyo in the first quarter worth about $299,000. Institutional investors 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.