Klaviyo (NYSE:KVYO) Reaches New 1-Year High After Analyst Upgrade

Klaviyo, Inc. (NYSE:KVYO)’s share price reached a new 52-week high on Monday after KeyCorp raised their price target on the stock from $42.00 to $45.00. KeyCorp currently has an overweight rating on the stock. Klaviyo traded as high as $41.48 and last traded at $41.45, with a volume of 1260827 shares traded. The stock had previously closed at $39.06.

A number of other brokerages have also issued reports on KVYO. Canaccord Genuity Group boosted their price target on shares of Klaviyo from $32.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Macquarie reiterated a “neutral” rating and set a $36.00 target price on shares of Klaviyo in a research report on Friday, November 8th. Wells Fargo & Company reissued a “buy” rating on shares of Klaviyo in a research note on Friday, October 18th. Barclays lifted their price target on Klaviyo from $32.00 to $41.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Finally, Stifel Nicolaus assumed coverage on Klaviyo in a research report on Tuesday, October 22nd. They issued a “buy” rating and a $45.00 price objective for the company. Three investment 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 currently has an average rating of “Moderate Buy” and a consensus price target of $39.69.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in KVYO. SG Americas Securities LLC purchased a new stake in Klaviyo in the 2nd quarter worth approximately $236,000. Bank of New York Mellon Corp boosted its holdings in shares of Klaviyo by 677.7% during 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 purchasing an additional 2,406,973 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Klaviyo by 1,447.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,852 shares of the company’s stock valued at $668,000 after purchasing an additional 25,117 shares during the period. Claro Advisors LLC increased its stake in Klaviyo by 38.7% in 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 last quarter. Finally, Versor Investments LP purchased a new position in Klaviyo during the second quarter worth about $309,000. Institutional investors and hedge funds own 45.43% of the company’s stock.

Klaviyo Trading Up 6.6 %

The stock has a market capitalization of $11.22 billion, a price-to-earnings ratio of -231.28 and a beta of 0.97. The business has a 50 day simple moving average of $37.54 and a 200-day simple moving average of $31.29.

Klaviyo (NYSE:KVYO) last released its earnings results on Wednesday, November 6th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.04. Klaviyo had a negative net margin of 5.23% and a positive return on equity of 0.86%. The business had revenue of $235.09 million for the quarter, compared to analysts’ expectations of $226.33 million. During the same period last year, the company earned ($1.24) earnings per share. The company’s quarterly revenue was up 33.7% on a year-over-year basis. Research analysts predict that Klaviyo, Inc. will post 0.03 EPS for the current year.

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.