Klaviyo (NYSE:KVYO) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Klaviyo (NYSE:KVYO) from a hold rating to a buy rating in a research report released on Saturday,Wall Street Zen reports.

KVYO has been the topic of a number of other reports. Canaccord Genuity Group reduced their price objective on shares of Klaviyo from $32.00 to $29.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Mizuho set a $24.00 price objective on shares of Klaviyo in a research note on Thursday. Truist Financial dropped their target price on Klaviyo from $35.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Barclays boosted their target price on Klaviyo from $22.00 to $23.00 and gave the company an “overweight” rating in a research report on Thursday, November 5th. Finally, Stifel Nicolaus set a $22.00 target price on Klaviyo in a research note on Thursday, September 10th. Sixteen investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $27.02.

Klaviyo Stock Up 1.1%

KVYO stock opened at $20.94 on Friday. Klaviyo has a twelve month low of $12.53 and a twelve month high of $33.35. The stock has a market capitalization of $5.96 billion, a price-to-earnings ratio of 92.87 and a beta of 0.50. The firm’s fifty day simple moving average is $18.12 and its two-hundred day simple moving average is $17.95.

Klaviyo (NYSE:KVYO) last announced its earnings results on Wednesday, November 4th. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.05. The business had revenue of $387.21 million for the quarter, compared to the consensus estimate of $380.02 million. Klaviyo had a net margin of 0.54% and a return on equity of 6.37%. The business’s revenue for the quarter was up 24.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.18 earnings per share. As a group, equities research analysts expect that Klaviyo will post 0.22 EPS for the current year.

Insider Activity

In other news, insider Landon Edmond sold 8,103 shares of the company’s stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $20.44, for a total value of $165,625.32. Following the transaction, the insider directly owned 477,866 shares in the company, valued at approximately $9,767,581.04. This represents a 1.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Roxanne Oulman sold 13,989 shares of the firm’s stock in a transaction dated Friday, November 6th. The stock was sold at an average price of $20.36, for a total transaction of $284,816.04. Following the completion of the transaction, the director directly owned 23,354 shares in the company, valued at $475,487.44. This represents a 37.46% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 388,239 shares of company stock valued at $7,666,465. Insiders own 37.42% of the company’s stock.

Hedge Funds Weigh In On Klaviyo

Institutional investors have recently modified their holdings of the stock. Parallel Advisors LLC raised its stake in Klaviyo by 30.1% in the third quarter. Parallel Advisors LLC now owns 2,276 shares of the company’s stock valued at $36,000 after buying an additional 526 shares during the last quarter. Seelaus Asset Management LLC boosted its holdings in Klaviyo by 3.3% in the third quarter. Seelaus Asset Management LLC now owns 19,944 shares of the company’s stock worth $314,000 after acquiring an additional 642 shares in the last quarter. Chicago Partners Investment Group LLC boosted its holdings in Klaviyo by 6.8% in the third quarter. Chicago Partners Investment Group LLC now owns 12,054 shares of the company’s stock worth $254,000 after acquiring an additional 767 shares in the last quarter. Optiver Holding B.V. purchased a new stake in shares of Klaviyo during the first quarter worth about $39,000. Finally, State of Wyoming grew its stake in shares of Klaviyo by 100.8% during the third quarter. State of Wyoming now owns 4,554 shares of the company’s stock worth $72,000 after acquiring an additional 2,286 shares during the last quarter. 45.43% of the stock is owned by hedge funds and other institutional investors.

About Klaviyo

Klaviyo, Inc provides a customer data and marketing automation platform that helps businesses manage customer relationships and communications. Its software brings together customer information to support personalized marketing and engagement.

The platform offers tools for email and text-message marketing, mobile push notifications, automation, audience segmentation, analytics and customer service. Klaviyo also connects with other business applications, including e-commerce platforms, to help companies coordinate customer data and outreach.

Founded in 2012 by Andrew Bialecki and Ed Hallen, Klaviyo is headquartered in Boston and serves businesses in markets around the world.