The Goldman Sachs Group Forecasts Strong Price Appreciation for Klaviyo (NYSE:KVYO) Stock

Klaviyo (NYSE:KVYO) had its target price increased by equities researchers at The Goldman Sachs Group from $45.00 to $51.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. The Goldman Sachs Group’s target price would suggest a potential upside of 22.05% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. Needham & Company LLC raised their price target on Klaviyo from $46.00 to $56.00 and gave the stock a “buy” rating in a report on Thursday. Mizuho boosted their target price on shares of Klaviyo from $42.00 to $52.00 and gave the stock an “outperform” rating in a research report on Thursday. Canaccord Genuity Group upped their price target on shares of Klaviyo from $40.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday. KeyCorp lifted their price objective on shares of Klaviyo from $42.00 to $45.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Finally, Cantor Fitzgerald upped their target price on Klaviyo from $47.00 to $54.00 and gave the company an “overweight” rating in a research report on Thursday. Five equities research 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, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.44.

Klaviyo Stock Performance

NYSE:KVYO opened at $41.79 on Thursday. The stock has a market capitalization of $11.27 billion, a P/E ratio of -232.14 and a beta of 0.60. The company’s 50-day simple moving average is $43.72 and its 200-day simple moving average is $37.92. Klaviyo has a fifty-two week low of $21.26 and a fifty-two week high of $49.55.

Klaviyo (NYSE:KVYO) last released its quarterly earnings results on Wednesday, February 19th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.12). Klaviyo had a positive return on equity of 0.90% and a negative net margin of 4.92%. The firm had revenue of $270.16 million during the quarter, compared to analysts’ expectations of $257.24 million. On average, research analysts forecast that Klaviyo will post 0.04 EPS for the current year.

Insider Activity at Klaviyo

In other Klaviyo news, insider Landon Edmond sold 40,000 shares of the firm’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 value of $1,672,000.00. Following the sale, the insider now directly owns 298,607 shares of the company’s stock, valued at approximately $12,481,772.60. This trade represents a 11.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Amanda Whalen sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $45.85, for a total value of $687,750.00. Following the completion of the sale, the chief financial officer now owns 376,820 shares of the company’s stock, valued at $17,277,197. This trade represents a 3.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 114,536 shares of company stock worth $4,720,953 in the last three months. Company insiders own 53.24% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Advisors Asset Management Inc. increased its holdings in Klaviyo by 145.6% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company’s stock worth $48,000 after acquiring an additional 808 shares in the last quarter. CIBC Private Wealth Group LLC increased its stake in shares of Klaviyo by 169.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,752 shares of the company’s stock worth $72,000 after purchasing an additional 1,102 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Klaviyo by 77.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,874 shares of the company’s stock worth $77,000 after purchasing an additional 818 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Klaviyo during the 4th quarter worth about $196,000. Finally, US Bancorp DE purchased a new position in Klaviyo in the 4th quarter valued at about $199,000. Hedge funds and other 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.