Klaviyo’s (KVYO) Neutral Rating Reaffirmed at Macquarie

Klaviyo (NYSE:KVYO)‘s stock had its “neutral” rating reaffirmed by stock analysts at Macquarie in a note issued to investors on Friday,Benzinga reports. They presently have a $36.00 price target on the stock. Macquarie’s price target suggests a potential upside of 8.08% from the stock’s previous close.

A number of other analysts have also weighed in on KVYO. Canaccord Genuity Group upped their price objective on Klaviyo from $32.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday. Stifel Nicolaus began coverage on Klaviyo in a report on Tuesday, October 22nd. They issued a “buy” rating and a $45.00 target price on the stock. Robert W. Baird upped their price objective on Klaviyo from $42.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday. Barclays boosted their target price on Klaviyo from $32.00 to $41.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Finally, Piper Sandler raised their price objective on shares of Klaviyo from $34.00 to $45.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Three research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Klaviyo currently has an average rating of “Moderate Buy” and an average target price of $39.00.

Klaviyo Stock Down 1.4 %

NYSE KVYO traded down $0.47 on Friday, reaching $33.31. The stock had a trading volume of 2,000,976 shares, compared to its average volume of 1,160,848. Klaviyo has a 12-month low of $21.26 and a 12-month high of $41.00. The stock has a fifty day moving average price of $35.12 and a two-hundred day moving average price of $28.55. The firm has a market capitalization of $8.88 billion, a price-to-earnings ratio of -23.63 and a beta of 1.13.

Klaviyo (NYSE:KVYO) last released its earnings results on Wednesday, August 7th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.05. The company had revenue of $222.21 million during the quarter, compared to the consensus estimate of $212.34 million. Klaviyo had a negative return on equity of 32.19% and a negative net margin of 42.15%. Klaviyo’s revenue was up 35.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.09 EPS. Sell-side analysts forecast that Klaviyo will post -0.01 earnings per share for the current fiscal year.

Insider Activity

In related news, CTO Allen Chaves sold 130,000 shares of Klaviyo stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $31.59, for a total value of $4,106,700.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Klaviyo news, major shareholder Summit Partners L. P sold 1,300 shares of Klaviyo stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $31.64, for a total transaction of $41,132.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Allen Chaves sold 130,000 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $31.59, for a total transaction of $4,106,700.00. The disclosure for this sale can be found here. Insiders have sold a total of 789,711 shares of company stock valued at $25,143,646 over the last quarter. Corporate insiders own 53.24% of the company’s stock.

Hedge Funds Weigh In On Klaviyo

Several institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp grew its holdings in Klaviyo by 677.7% during the second quarter. Bank of New York Mellon Corp now owns 2,762,128 shares of the company’s stock worth $68,749,000 after acquiring an additional 2,406,973 shares during the period. SpiderRock Advisors LLC grew its position in Klaviyo by 1,571.7% in the third quarter. SpiderRock Advisors LLC now owns 501,500 shares of the company’s stock worth $17,743,000 after buying an additional 471,500 shares during the last quarter. Mayflower Financial Advisors LLC boosted its stake in shares of Klaviyo by 181.4% during the 3rd quarter. Mayflower Financial Advisors LLC now owns 684,948 shares of the company’s stock worth $24,233,000 after acquiring an additional 441,500 shares in the last quarter. Millennium Management LLC raised its position in shares of Klaviyo by 53.6% during the second quarter. Millennium Management LLC now owns 1,120,485 shares of the company’s stock worth $27,889,000 after purchasing an additional 390,849 shares during the period. Finally, Claro Advisors LLC increased its stake in Klaviyo by 38.7% in the 2nd quarter. Claro Advisors LLC now owns 1,280,035 shares of the company’s stock worth $31,860,000 after purchasing an additional 357,355 shares in the last quarter. 45.43% of the stock is owned by 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.