Klaviyo (NYSE:KVYO) Price Target Raised to $24.00

Klaviyo (NYSE:KVYO) had its price target hoisted by Wells Fargo & Company from $22.00 to $24.00 in a research note published on Wednesday, MarketBeat.com reports. They currently have an overweight rating on the stock.

A number of other brokerages have also issued reports on KVYO. TD Cowen lowered their price target on Klaviyo from $27.00 to $26.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Jefferies Financial Group restated a “buy” rating and set a $21.00 price objective on shares of Klaviyo in a report on Thursday, August 6th. Stephens lifted their target price on Klaviyo from $24.00 to $25.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Piper Sandler lowered their target price on Klaviyo from $26.00 to $23.00 and set an “overweight” rating for the company in a report on Thursday, August 6th. Finally, The Goldman Sachs Group downgraded Klaviyo from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $27.00 to $20.00 in a research report on Friday, October 16th. Seventeen analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $27.05.

Klaviyo Stock Down 1.3%

KVYO stock opened at $20.16 on Wednesday. Klaviyo has a twelve month low of $12.53 and a twelve month high of $33.35. The firm has a market cap of $5.74 billion, a price-to-earnings ratio of 1,008.50 and a beta of 0.67. The business’s fifty day simple moving average is $17.82 and its two-hundred day simple moving average is $18.07.

Klaviyo (NYSE:KVYO) last issued its earnings results on Wednesday, August 5th. The company reported $0.19 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.19. The firm had revenue of $370.58 million during the quarter, compared to analyst estimates of $362.08 million. Klaviyo had a net margin of 0.49% and a return on equity of 5.67%. The business’s revenue was up 26.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.16 earnings per share. Research analysts expect that Klaviyo will post 0.20 EPS for the current year.

Insider Transactions at Klaviyo

In related news, Director Ed Hallen sold 98,782 shares of the stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $20.48, for a total transaction of $2,023,055.36. Following the completion of the sale, the director owned 94,457 shares of the company’s stock, valued at $1,934,479.36. This represents a 51.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Landon Edmond sold 53,473 shares of the stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $20.01, for a total transaction of $1,069,994.73. Following the sale, the insider directly owned 485,969 shares of the company’s stock, valued at $9,724,239.69. The trade was a 9.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 5,275,468 shares of company stock worth $93,822,653. 37.42% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Klaviyo

Large investors have recently made changes to their positions in the business. Vise Technologies Inc. purchased a new stake in Klaviyo in the third quarter valued at approximately $1,328,000. State of Wyoming increased its holdings in Klaviyo by 100.8% in the 3rd quarter. State of Wyoming now owns 4,554 shares of the company’s stock worth $72,000 after buying an additional 2,286 shares during the period. Capstone Capital Management Ltd purchased a new position in Klaviyo during the 3rd quarter worth approximately $463,000. Morangie Management LLC raised its position in Klaviyo by 35.3% during the 3rd quarter. Morangie Management LLC now owns 545,319 shares of the company’s stock worth $8,578,000 after buying an additional 142,153 shares during the last quarter. Finally, State of Alaska Department of Revenue purchased a new position in Klaviyo during the 3rd quarter worth approximately $101,000. 45.43% of the stock is owned by institutional investors and hedge funds.

About Klaviyo

Klaviyo, Inc (NYSE: KVYO) provides a customer data and marketing automation platform designed primarily for businesses that sell online. Its software helps organizations collect, organize and analyze customer information, then use those insights to create personalized marketing and customer engagement campaigns.

The company’s platform supports communication across channels including email, SMS and mobile push notifications. Its products provide tools for audience segmentation, campaign orchestration, automation, analytics and reporting, with capabilities intended to help businesses improve customer acquisition, engagement and retention.