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

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

Other equities analysts have also recently issued research reports about the stock. Wells Fargo & Company reaffirmed a “buy” rating on shares of Klaviyo in a research note on Friday, October 18th. Piper Sandler lifted their price target on shares of Klaviyo from $34.00 to $45.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Cantor Fitzgerald upped their price target on Klaviyo from $33.00 to $47.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Stifel Nicolaus began coverage on Klaviyo in a research note on Tuesday, October 22nd. They set a “buy” rating and a $45.00 price objective for the company. Finally, Needham & Company LLC boosted their target price on Klaviyo from $40.00 to $46.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Three 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 stock has an average rating of “Moderate Buy” and a consensus target price of $39.69.

Klaviyo Price Performance

Shares of NYSE:KVYO opened at $44.08 on Thursday. The stock’s 50 day moving average price is $38.09 and its 200 day moving average price is $31.74. The stock has a market cap of $11.89 billion, a price-to-earnings ratio of -244.88 and a beta of 0.97. Klaviyo has a 12 month low of $21.26 and a 12 month high of $44.77.

Klaviyo (NYSE:KVYO) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.04. Klaviyo had a positive return on equity of 0.86% and a negative net margin of 5.23%. The company had revenue of $235.09 million for the quarter, compared to the consensus estimate of $226.33 million. During the same quarter in the previous year, the business earned ($1.24) EPS. The company’s quarterly revenue was up 33.7% compared to the same quarter last year. On average, sell-side analysts expect that Klaviyo will post 0.03 EPS for the current year.

Insider Activity at Klaviyo

In other news, President Stephen Eric Rowland sold 18,114 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $37.19, for a total transaction of $673,659.66. Following the transaction, the president now owns 192,488 shares of the company’s stock, valued at approximately $7,158,628.72. This represents a 8.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Amanda Whalen sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $35.36, for a total value of $353,600.00. Following the completion of the sale, the chief financial officer now owns 422,813 shares of the company’s stock, valued at approximately $14,950,667.68. This trade represents a 2.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 127,650 shares of company stock valued at $4,676,705. Corporate insiders own 53.24% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Advisors Asset Management Inc. increased its stake in shares of Klaviyo by 145.6% in 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 during the period. nVerses Capital LLC acquired a new position in Klaviyo in the 3rd quarter valued at approximately $53,000. West Tower Group LLC bought a new stake in shares of Klaviyo in the 3rd quarter worth approximately $177,000. Victory Capital Management Inc. acquired a new stake in shares of Klaviyo during the 3rd quarter worth approximately $208,000. Finally, William Marsh Rice University acquired a new position in shares of Klaviyo in the third quarter valued at $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.