Klaviyo (NYSE:KVYO) Receives “Outperform” Rating from William Blair

Klaviyo (NYSE:KVYO)‘s stock had its “outperform” rating reissued by analysts at William Blair in a note issued to investors on Thursday,RTT News reports.

Other research analysts have also recently issued research reports about the stock. Macquarie reissued a “neutral” rating and set a $36.00 price target on shares of Klaviyo in a research report on Friday, November 8th. Canaccord Genuity Group increased their price target on shares of Klaviyo from $32.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Benchmark cut their price target on shares of Klaviyo from $42.00 to $40.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Needham & Company LLC upped their price objective on Klaviyo from $40.00 to $46.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Wells Fargo & Company reissued a “buy” rating on shares of Klaviyo in a research note on Friday, October 18th. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $39.69.

Klaviyo Trading Up 1.5 %

KVYO stock traded up $0.65 during mid-day trading on Thursday, reaching $42.64. The company’s stock had a trading volume of 218,939 shares, compared to its average volume of 1,190,718. The company’s 50 day moving average is $37.82 and its two-hundred day moving average is $31.51. Klaviyo has a fifty-two week low of $21.26 and a fifty-two week high of $44.38. The stock has a market cap of $11.50 billion, a PE ratio of -236.88 and a beta of 0.97.

Klaviyo (NYSE:KVYO) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.11 by $0.04. The firm had revenue of $235.09 million during 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%. The business’s revenue for the quarter was up 33.7% on a year-over-year basis. During the same quarter last year, the firm earned ($1.24) earnings per share. On average, analysts forecast that Klaviyo will post 0.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Klaviyo news, CFO Amanda Whalen sold 15,000 shares of the stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $39.39, for a total value of $590,850.00. Following the sale, the chief financial officer now owns 391,820 shares of the company’s stock, valued at $15,433,789.80. This trade represents a 3.69 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Stephen Eric Rowland sold 4,536 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $34.56, for a total value of $156,764.16. Following the transaction, the president now directly owns 186,785 shares of the company’s stock, valued at approximately $6,455,289.60. This represents a 2.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 127,650 shares of company stock worth $4,676,705 in the last ninety days. 53.24% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Klaviyo

Hedge funds and other institutional investors have recently modified their holdings of the company. Advisors Asset Management Inc. grew its stake in shares of Klaviyo by 145.6% during the third quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company’s stock worth $48,000 after purchasing an additional 808 shares in the last quarter. nVerses Capital LLC purchased a new position in shares of Klaviyo in the 3rd quarter valued at about $53,000. West Tower Group LLC acquired a new stake in shares of Klaviyo during the 3rd quarter worth about $177,000. Victory Capital Management Inc. purchased a new stake in Klaviyo during the third quarter worth approximately $208,000. Finally, William Marsh Rice University acquired a new position in Klaviyo in the third quarter valued at approximately $245,000. 45.43% of the stock is currently owned by institutional investors and hedge funds.

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.