Loop Capital Issues Positive Forecast for Klaviyo (NYSE:KVYO) Stock Price

Klaviyo (NYSE:KVYO) had its price target upped by Loop Capital from $45.00 to $60.00 in a research note published on Monday morning, Marketbeat reports. They currently have a buy rating on the stock.

Several other research analysts also recently issued reports on the company. Barclays upped their price objective on Klaviyo from $32.00 to $41.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Stifel Nicolaus assumed coverage on Klaviyo in a report on Tuesday, October 22nd. They issued a “buy” rating and a $45.00 price target on the stock. Needham & Company LLC boosted their price objective on Klaviyo from $40.00 to $46.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Piper Sandler upped their target price on shares of Klaviyo from $34.00 to $45.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Finally, Cantor Fitzgerald lifted their price target on shares of Klaviyo from $33.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $40.88.

Klaviyo Stock Performance

Shares of NYSE:KVYO opened at $42.83 on Monday. The business has a fifty day moving average of $38.09 and a 200-day moving average of $31.88. Klaviyo has a twelve month low of $21.26 and a twelve month high of $44.77. The firm 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 quarterly earnings data on Wednesday, November 6th. The company reported $0.15 earnings per share 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 firm had revenue of $235.09 million during the quarter, compared to analysts’ expectations of $226.33 million. During the same quarter last year, the company posted ($1.24) EPS. The company’s quarterly revenue was up 33.7% compared to the same quarter last year. On average, analysts anticipate that Klaviyo will post 0.03 EPS for the current fiscal year.

Insider Activity

In other Klaviyo 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 completion of the transaction, the president now owns 192,488 shares in the company, valued at approximately $7,158,628.72. This represents a 8.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Amanda Whalen sold 1,050 shares of Klaviyo stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $40.07, for a total value of $42,073.50. Following the completion of the sale, the chief financial officer now directly owns 395,616 shares in the company, valued at $15,852,333.12. This represents a 0.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 127,650 shares of company stock worth $4,676,705 in the last 90 days. Corporate insiders own 53.24% of the company’s stock.

Hedge Funds Weigh In On Klaviyo

A number of large investors have recently bought and sold shares of the company. Advisors Asset Management Inc. boosted its stake 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 buying an additional 808 shares during the last quarter. nVerses Capital LLC bought a new stake in Klaviyo during the third quarter worth about $53,000. West Tower Group LLC acquired a new position in Klaviyo during the third quarter valued at approximately $177,000. Victory Capital Management Inc. bought a new position in Klaviyo in the third quarter valued at approximately $208,000. Finally, William Marsh Rice University acquired a new position in shares of Klaviyo during the 3rd quarter worth approximately $245,000. Institutional investors and hedge funds own 45.43% of the company’s stock.

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.