Cantor Fitzgerald Begins Coverage on Klaviyo (NYSE:KVYO)

Cantor Fitzgerald initiated coverage on shares of Klaviyo (NYSE:KVYO) in a report published on Tuesday, Marketbeat Ratings reports. The firm issued an overweight rating and a $31.00 price target on the stock.

KVYO has been the subject of a number of other research reports. FBN Securities began coverage on shares of Klaviyo in a research report on Wednesday, March 20th. They set an outperform rating and a $35.00 target price for the company. Barclays cut their target price on shares of Klaviyo from $37.00 to $32.00 and set an equal weight rating for the company in a research report on Friday, January 12th. Morgan Stanley cut their target price on shares of Klaviyo from $38.00 to $37.00 and set an equal weight rating for the company in a research report on Wednesday, February 28th. KeyCorp began coverage on shares of Klaviyo in a research report on Thursday, March 21st. They set a sector weight rating for the company. Finally, The Goldman Sachs Group upgraded shares of Klaviyo from a neutral rating to a buy rating and set a $36.00 target price for the company in a research report on Monday, February 5th. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $36.88.

Klaviyo Stock Performance

KVYO opened at $22.81 on Tuesday. The firm has a 50-day moving average of $26.24 and a 200 day moving average of $27.75. Klaviyo has a fifty-two week low of $22.71 and a fifty-two week high of $39.47.

Klaviyo (NYSE:KVYO) last posted its quarterly earnings results on Tuesday, February 27th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.02. The company had revenue of $201.62 million for the quarter, compared to the consensus estimate of $196.02 million. On average, equities analysts forecast that Klaviyo will post -0.27 earnings per share for the current fiscal year.

Insider Activity at Klaviyo

In related news, insider Landon Edmond sold 3,545 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now directly owns 167,127 shares of the company’s stock, valued at $4,036,117.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Institutional Investors Weigh In On Klaviyo

Institutional investors and hedge funds have recently bought and sold shares of the stock. Claro Advisors LLC purchased a new position in shares of Klaviyo during the first quarter worth approximately $23,510,000. Salem Investment Counselors Inc. raised its stake in shares of Klaviyo by 161.1% during the first quarter. Salem Investment Counselors Inc. now owns 2,350 shares of the company’s stock worth $60,000 after acquiring an additional 1,450 shares in the last quarter. Moody National Bank Trust Division raised its stake in shares of Klaviyo by 87.9% during the first quarter. Moody National Bank Trust Division now owns 15,639 shares of the company’s stock worth $398,000 after acquiring an additional 7,316 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Klaviyo by 45.6% during the fourth quarter. Vanguard Group Inc. now owns 2,103,713 shares of the company’s stock worth $58,441,000 after acquiring an additional 659,279 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of Klaviyo by 243.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,472,140 shares of the company’s stock worth $40,896,000 after acquiring an additional 1,042,902 shares in the last quarter. 45.43% of the stock is owned by hedge funds and other institutional investors.

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.