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

Klaviyo, Inc. (NYSE:KVYO)’s stock price reached a new 52-week high during mid-day trading on Monday after Loop Capital raised their price target on the stock from $45.00 to $60.00. Loop Capital currently has a buy rating on the stock. Klaviyo traded as high as $46.00 and last traded at $46.00, with a volume of 2739 shares traded. The stock had previously closed at $44.08.

A number of other equities research analysts have also recently issued reports on the company. Cantor Fitzgerald boosted their price objective on Klaviyo from $33.00 to $47.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Wells Fargo & Company restated a “buy” rating on shares of Klaviyo in a research note on Friday, October 18th. KeyCorp lifted their price objective on shares of Klaviyo from $42.00 to $45.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Barclays increased their target price on Klaviyo from $32.00 to $41.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Finally, Robert W. Baird lifted their price target on Klaviyo from $42.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $40.88.

Insider Activity

In other Klaviyo news, insider Landon Edmond sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $34.56, for a total transaction of $1,382,400.00. Following the completion of the transaction, the insider now owns 236,621 shares of the company’s stock, valued at $8,177,621.76. This represents a 14.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Amanda Whalen sold 23,950 shares of Klaviyo stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $40.04, for a total value of $958,958.00. Following the completion of the sale, the chief financial officer now owns 395,616 shares in the company, valued at approximately $15,840,464.64. This represents a 5.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 127,650 shares of company stock valued at $4,676,705. 53.24% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Klaviyo

Several institutional investors and hedge funds have recently modified their holdings of the stock. Lisanti Capital Growth LLC bought a new position in Klaviyo in the third quarter worth about $5,513,000. Pier 88 Investment Partners LLC purchased a new stake in Klaviyo in the third quarter worth about $966,000. SpiderRock Advisors LLC raised its stake in Klaviyo by 1,571.7% during the third quarter. SpiderRock Advisors LLC now owns 501,500 shares of the company’s stock valued at $17,743,000 after buying an additional 471,500 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new position in shares of Klaviyo in the 3rd quarter worth about $5,113,000. Finally, Canada Pension Plan Investment Board bought a new position in shares of Klaviyo in the second quarter worth approximately $747,000. 45.43% of the stock is owned by hedge funds and other institutional investors.

Klaviyo Stock Down 2.8 %

The stock’s fifty day moving average price is $38.09 and its 200 day moving average price is $31.88. The stock has a market cap of $11.55 billion, a PE ratio of -237.93 and a beta of 0.97.

Klaviyo (NYSE:KVYO) last posted its earnings results on Wednesday, November 6th. The company reported $0.15 earnings per share (EPS) for the quarter, beating 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 quarter in the prior year, the business earned ($1.24) EPS. The business’s revenue for the quarter was up 33.7% compared to the same quarter last year. On average, equities research analysts expect that Klaviyo, Inc. will post 0.03 earnings per share for the current fiscal 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.