Needham & Company LLC Forecasts Strong Price Appreciation for Klaviyo (NYSE:KVYO) Stock

Klaviyo (NYSE:KVYO) had its target price lifted by investment analysts at Needham & Company LLC from $46.00 to $56.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s price target points to a potential upside of 34.02% from the stock’s previous close.

A number of other brokerages have also recently issued reports on KVYO. Benchmark increased their target price on shares of Klaviyo from $40.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday. Cantor Fitzgerald raised their target price on shares of Klaviyo from $33.00 to $47.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. William Blair reaffirmed an “outperform” rating on shares of Klaviyo in a research note on Thursday, December 19th. Robert W. Baird raised their target price on shares of Klaviyo from $42.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Finally, Loop Capital raised their target price on shares of Klaviyo from $45.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, December 23rd. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.44.

Klaviyo Trading Down 5.6 %

NYSE KVYO opened at $41.79 on Thursday. Klaviyo has a 1 year low of $21.26 and a 1 year high of $49.55. The company has a fifty day simple moving average of $43.72 and a 200 day simple moving average of $37.92. The company has a market cap of $11.27 billion, a P/E ratio of -232.14 and a beta of 0.60.

Klaviyo (NYSE:KVYO) last issued its quarterly earnings results on Wednesday, February 19th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.12). Klaviyo had a negative net margin of 4.92% and a positive return on equity of 0.90%. The company had revenue of $270.16 million during the quarter, compared to the consensus estimate of $257.24 million. Equities research analysts forecast that Klaviyo will post 0.04 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Amanda Whalen sold 23,950 shares of Klaviyo stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $40.04, for a total value of $958,958.00. Following the sale, the chief financial officer now directly owns 395,616 shares in the company, valued at $15,840,464.64. This trade represents a 5.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Stephen Eric Rowland sold 4,536 shares of Klaviyo stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $40.04, for a total transaction of $181,621.44. Following the completion of the sale, the president now owns 260,403 shares in the company, valued at $10,426,536.12. This trade represents a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 114,536 shares of company stock worth $4,720,953. Company insiders own 53.24% of the company’s stock.

Institutional Trading of Klaviyo

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Klaviyo by 9.1% in the fourth quarter. Vanguard Group Inc. now owns 7,721,855 shares of the company’s stock valued at $318,449,000 after purchasing an additional 646,628 shares during the last quarter. Whale Rock Capital Management LLC increased its holdings in Klaviyo by 7.4% during the fourth quarter. Whale Rock Capital Management LLC now owns 3,868,451 shares of the company’s stock worth $159,535,000 after buying an additional 267,845 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Klaviyo by 5.0% during the fourth quarter. Bank of New York Mellon Corp now owns 2,926,187 shares of the company’s stock worth $120,676,000 after buying an additional 140,127 shares during the last quarter. Clearbridge Investments LLC increased its holdings in Klaviyo by 0.9% during the fourth quarter. Clearbridge Investments LLC now owns 2,168,336 shares of the company’s stock worth $89,422,000 after buying an additional 19,567 shares during the last quarter. Finally, Franklin Resources Inc. increased its holdings in Klaviyo by 48.6% during the fourth quarter. Franklin Resources Inc. now owns 1,943,523 shares of the company’s stock worth $80,151,000 after buying an additional 635,962 shares during the last quarter. 45.43% of the stock is currently owned by institutional investors and hedge funds.

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.