William Blair Reaffirms Outperform Rating for Klaviyo (NYSE:KVYO)

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

Other research analysts have also recently issued research reports about the stock. Robert W. Baird raised their price target on shares of Klaviyo from $52.00 to $54.00 and gave the stock an “outperform” rating in a report on Thursday. Morgan Stanley raised their target price on Klaviyo from $47.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Thursday. Mizuho lifted their price target on Klaviyo from $42.00 to $52.00 and gave the stock an “outperform” rating in a research report on Thursday. Canaccord Genuity Group increased their price objective on Klaviyo from $40.00 to $50.00 and gave the company a “buy” rating in a report on Thursday. Finally, Benchmark lifted their target price on Klaviyo from $40.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $49.44.

Klaviyo Trading Down 5.6 %

Shares of KVYO opened at $41.79 on Thursday. The firm has a market cap of $11.27 billion, a PE ratio of -232.14 and a beta of 0.60. Klaviyo has a 12 month low of $21.26 and a 12 month high of $49.55. The stock has a fifty day moving average price of $43.72 and a 200-day moving average price of $37.92.

Klaviyo (NYSE:KVYO) last issued its quarterly earnings results on Wednesday, February 19th. The company reported ($0.06) earnings per share 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 business had revenue of $270.16 million during the quarter, compared to analyst estimates of $257.24 million. As a group, research analysts forecast that Klaviyo will post 0.04 EPS for the current year.

Insider Buying and Selling at Klaviyo

In other Klaviyo news, President Stephen Eric Rowland sold 4,536 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $40.04, for a total value of $181,621.44. Following the sale, the president now directly owns 260,403 shares of the company’s stock, valued at approximately $10,426,536.12. This trade represents a 1.71 % 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, insider Landon Edmond sold 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $41.80, for a total value of $1,672,000.00. Following the completion of the sale, the insider now owns 298,607 shares of the company’s stock, valued at $12,481,772.60. This trade represents a 11.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 114,536 shares of company stock valued at $4,720,953. Corporate insiders own 53.24% of the company’s stock.

Hedge Funds Weigh In On Klaviyo

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. raised its position in shares of Klaviyo by 145.6% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company’s stock worth $48,000 after purchasing an additional 808 shares during the last quarter. CIBC Private Wealth Group LLC boosted its holdings in Klaviyo by 169.5% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,752 shares of the company’s stock worth $72,000 after buying an additional 1,102 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in Klaviyo by 77.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,874 shares of the company’s stock worth $77,000 after buying an additional 818 shares in the last quarter. West Tower Group LLC acquired a new position in shares of Klaviyo during the third quarter valued at approximately $177,000. Finally, SBI Securities Co. Ltd. purchased a new position in shares of Klaviyo in the fourth quarter valued at approximately $196,000. 45.43% of the stock is owned by hedge funds and other institutional investors.

Klaviyo Company Profile

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.