Klaviyo (NYSE:KVYO) Price Target Lowered to $25.00 at Barclays

Klaviyo (NYSE:KVYO) had its price target decreased by analysts at Barclays from $32.00 to $25.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s price target indicates a potential upside of 1.75% from the stock’s current price.

Other equities analysts have also issued reports about the company. KeyCorp initiated coverage on Klaviyo in a report on Thursday, March 21st. They issued a “sector weight” rating for the company. Morgan Stanley reduced their target price on Klaviyo from $37.00 to $32.00 and set an “equal weight” rating for the company in a report on Wednesday, April 17th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $31.00 target price on shares of Klaviyo in a report on Thursday. The Goldman Sachs Group raised Klaviyo from a “neutral” rating to a “buy” rating and set a $36.00 target price for the company in a report on Monday, February 5th. Finally, Robert W. Baird dropped their price objective on Klaviyo from $40.00 to $35.00 and set an “outperform” rating on the stock in a research note on Thursday. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $35.81.

Klaviyo Stock Performance

KVYO traded up $3.04 during midday trading on Thursday, reaching $24.57. 1,809,381 shares of the company were exchanged, compared to its average volume of 1,134,082. The company’s fifty day moving average price is $24.52 and its 200 day moving average price is $26.85. Klaviyo has a one year low of $21.51 and a one year high of $39.47.

Klaviyo (NYSE:KVYO) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.03. The company had revenue of $210.00 million for the quarter, compared to the consensus estimate of $202.08 million. Klaviyo’s quarterly revenue was up 34.5% on a year-over-year basis. Equities analysts forecast that Klaviyo will post -0.27 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Landon Edmond sold 3,545 shares of the company’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $24.15, for a total value of $85,611.75. Following the transaction, the insider now owns 167,127 shares of the company’s stock, valued at $4,036,117.05. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Clearbridge Investments LLC increased its holdings in shares of Klaviyo by 16.6% in the fourth quarter. Clearbridge Investments LLC now owns 2,174,097 shares of the company’s stock worth $60,396,000 after purchasing an additional 309,864 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Klaviyo by 243.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,472,140 shares of the company’s stock worth $40,896,000 after purchasing an additional 1,042,902 shares during the period. Vanguard Group Inc. bought a new position in Klaviyo in the third quarter valued at $49,833,000. Franklin Resources Inc. increased its stake in Klaviyo by 95.4% in the fourth quarter. Franklin Resources Inc. now owns 1,380,515 shares of the company’s stock valued at $38,351,000 after acquiring an additional 673,929 shares during the last quarter. Finally, Glynn Capital Management LLC increased its stake in Klaviyo by 291.3% in the first quarter. Glynn Capital Management LLC now owns 1,139,307 shares of the company’s stock valued at $29,030,000 after acquiring an additional 848,152 shares during the last quarter. Institutional investors own 45.43% of the company’s stock.

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.