Klaviyo (NYSE:KVYO) Given New $48.00 Price Target at Citigroup

Klaviyo (NYSE:KVYO) had its price objective upped by stock analysts at Citigroup from $39.00 to $48.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup’s price target would suggest a potential downside of 2.50% from the stock’s previous close.

Several other brokerages have also weighed in on KVYO. Wells Fargo & Company lifted their target price on shares of Klaviyo from $37.00 to $41.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 7th. Piper Sandler lifted their price objective on Klaviyo from $45.00 to $50.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Morgan Stanley increased their target price on Klaviyo from $38.00 to $47.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. KeyCorp boosted their price target on Klaviyo from $42.00 to $45.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Finally, Cantor Fitzgerald increased their price objective on Klaviyo from $33.00 to $47.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $43.88.

Klaviyo Trading Up 4.8 %

Shares of NYSE KVYO opened at $49.23 on Tuesday. Klaviyo has a one year low of $21.26 and a one year high of $49.43. The business has a fifty day simple moving average of $42.17 and a 200 day simple moving average of $36.61. The firm has a market capitalization of $13.27 billion, a price-to-earnings ratio of -273.50 and a beta of 0.60.

Insider Transactions at Klaviyo

In other Klaviyo news, 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 transaction of $156,764.16. Following the completion of the sale, the president now directly owns 186,785 shares of the company’s stock, valued at approximately $6,455,289.60. The trade was a 2.37 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Landon Edmond sold 40,000 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $34.56, for a total transaction of $1,382,400.00. Following the transaction, the insider now owns 236,621 shares in the company, valued at approximately $8,177,621.76. The trade was a 14.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 174,072 shares of company stock worth $6,778,517. Corporate insiders own 53.24% of the company’s stock.

Institutional Investors Weigh In On Klaviyo

A number of institutional investors and hedge funds have recently modified their holdings of the business. Advisors Asset Management Inc. boosted its stake in Klaviyo by 145.6% in the third quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company’s stock valued at $48,000 after acquiring an additional 808 shares during the last quarter. nVerses Capital LLC acquired a new stake in shares of Klaviyo during the third quarter worth $53,000. SBI Securities Co. Ltd. bought a new stake in Klaviyo in the fourth quarter valued at about $196,000. US Bancorp DE acquired a new position in Klaviyo in the fourth quarter valued at about $199,000. Finally, Bank Julius Baer & Co. Ltd Zurich boosted its holdings in Klaviyo by 8.0% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,836 shares of the company’s stock worth $220,000 after buying an additional 359 shares during the last quarter. 45.43% of the stock is owned by institutional investors.

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.