Klaviyo (NYSE:KVYO) Upgraded at Macquarie

Macquarie upgraded shares of Klaviyo (NYSE:KVYO) to a hold rating in a report published on Wednesday, Zacks.com reports.

Other analysts also recently issued reports about the stock. Robert W. Baird boosted their target price on shares of Klaviyo from $35.00 to $42.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. Piper Sandler boosted their target price on shares of Klaviyo from $34.00 to $45.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Wells Fargo & Company restated a “buy” rating on shares of Klaviyo in a report on Friday, October 18th. Cantor Fitzgerald lifted their price target on shares of Klaviyo from $31.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Finally, KeyCorp raised shares of Klaviyo from a “sector weight” rating to an “overweight” rating and set a $33.00 price target for the company in a research note on Thursday, August 8th. Three research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, Klaviyo currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.29.

Klaviyo Stock Performance

Shares of NYSE KVYO opened at $39.63 on Wednesday. The company has a market cap of $10.57 billion and a P/E ratio of -28.10. The firm’s fifty day moving average is $34.66 and its two-hundred day moving average is $28.17. Klaviyo has a 52-week low of $21.26 and a 52-week high of $39.93.

Klaviyo (NYSE:KVYO) last posted its earnings results on Wednesday, August 7th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.05. Klaviyo had a negative net margin of 42.15% and a negative return on equity of 32.19%. The firm had revenue of $222.21 million for the quarter, compared to the consensus estimate of $212.34 million. During the same period in the previous year, the firm posted $0.09 EPS. The business’s quarterly revenue was up 35.0% on a year-over-year basis. As a group, analysts forecast that Klaviyo will post -0.01 EPS for the current fiscal year.

Insider Transactions at Klaviyo

In related news, CTO Allen Chaves sold 130,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $31.59, for a total transaction of $4,106,700.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Klaviyo news, major shareholder Summit Partners L. P sold 1,300 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $31.64, for a total transaction of $41,132.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Allen Chaves sold 130,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $31.59, for a total transaction of $4,106,700.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 871,477 shares of company stock valued at $27,610,861. Company insiders own 53.24% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of KVYO. nVerses Capital LLC acquired a new position in Klaviyo during the 3rd quarter valued at approximately $53,000. EntryPoint Capital LLC purchased a new stake in shares of Klaviyo in the 1st quarter valued at $71,000. SG Americas Securities LLC purchased a new stake in shares of Klaviyo in the 2nd quarter valued at $236,000. William Marsh Rice University purchased a new stake in shares of Klaviyo in the 3rd quarter valued at $245,000. Finally, Creative Planning purchased a new stake in shares of Klaviyo in the 3rd quarter valued at $254,000. 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.