Robert W. Baird Issues Positive Forecast for Klaviyo (NYSE:KVYO) Stock Price

Klaviyo (NYSE:KVYO) had its price target increased by research analysts at Robert W. Baird from $42.00 to $45.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s price target would suggest a potential upside of 30.59% from the company’s previous close.

Other equities research analysts have also recently issued reports about the company. Wells Fargo & Company restated a “buy” rating on shares of Klaviyo in a research note on Friday, October 18th. Needham & Company LLC reiterated a “buy” rating and set a $40.00 price target on shares of Klaviyo in a report on Wednesday, September 4th. Piper Sandler upped their price target on shares of Klaviyo from $34.00 to $45.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Barclays increased their price target on Klaviyo from $32.00 to $41.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Finally, Benchmark cut their price objective on shares of Klaviyo from $42.00 to $40.00 and set a “buy” rating on the stock in a research report on Thursday. Three analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Klaviyo has a consensus rating of “Moderate Buy” and a consensus price target of $38.18.

Klaviyo Trading Down 14.6 %

NYSE KVYO traded down $5.90 during trading on Thursday, reaching $34.46. The company’s stock had a trading volume of 4,680,996 shares, compared to its average volume of 1,148,000. The firm has a market capitalization of $9.19 billion, a price-to-earnings ratio of -24.58 and a beta of 1.13. Klaviyo has a 12 month low of $21.26 and a 12 month high of $41.00. The firm has a 50 day moving average price of $35.12 and a 200 day moving average price of $28.55.

Klaviyo (NYSE:KVYO) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.15 earnings per share (EPS) 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 the consensus estimate of $212.34 million. Klaviyo had a negative net margin of 42.15% and a negative return on equity of 32.19%. The business’s revenue for the quarter was up 35.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.09 EPS. On average, equities analysts forecast that Klaviyo will post -0.01 EPS for the current fiscal year.

Insider Transactions at Klaviyo

In related news, major shareholder Summit Partners L. P sold 242,601 shares of the business’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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, major shareholder Summit Partners L. P sold 242,601 shares of the business’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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Summit Partners L. P sold 82,499 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $31.76, for a total transaction of $2,620,168.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 871,477 shares of company stock valued at $27,610,861. Insiders own 53.24% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in KVYO. Bank of New York Mellon Corp lifted its stake in shares of 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 worth $68,749,000 after buying an additional 2,406,973 shares in the last quarter. SpiderRock Advisors LLC lifted its position in Klaviyo by 1,571.7% during the third quarter. SpiderRock Advisors LLC now owns 501,500 shares of the company’s stock valued at $17,743,000 after purchasing an additional 471,500 shares during the period. Mayflower Financial Advisors LLC lifted its position in Klaviyo by 181.4% during the third quarter. Mayflower Financial Advisors LLC now owns 684,948 shares of the company’s stock valued at $24,233,000 after purchasing an additional 441,500 shares during the period. Millennium Management LLC lifted its position in Klaviyo by 53.6% during the second quarter. Millennium Management LLC now owns 1,120,485 shares of the company’s stock valued at $27,889,000 after purchasing an additional 390,849 shares during the period. Finally, Claro Advisors LLC lifted its position in Klaviyo by 38.7% during the second quarter. Claro Advisors LLC now owns 1,280,035 shares of the company’s stock valued at $31,860,000 after purchasing an additional 357,355 shares during the period. 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.