Klaviyo (NYSE:KVYO) Given New $45.00 Price Target at Robert W. Baird

Klaviyo (NYSE:KVYO) had its price objective increased by stock analysts at Robert W. Baird from $42.00 to $45.00 in a report released on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Robert W. Baird’s price objective indicates a potential upside of 34.89% from the company’s current price.

KVYO has been the subject of several other research reports. Macquarie assumed coverage on Klaviyo in a research note on Thursday, October 31st. They set a “neutral” rating and a $36.00 target price for the company. Wells Fargo & Company reissued a “buy” rating on shares of Klaviyo in a research report on Friday, October 18th. Cantor Fitzgerald upped their target price on shares of Klaviyo from $33.00 to $47.00 and gave the company an “overweight” rating in a research report on Thursday. Needham & Company LLC reiterated a “buy” rating and set a $40.00 price target on shares of Klaviyo in a research report on Wednesday, September 4th. Finally, KeyCorp upgraded shares of Klaviyo from a “sector weight” rating to an “overweight” rating and set a $33.00 price objective on the stock in a report on Thursday, August 8th. Three research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.00.

Klaviyo Trading Down 1.2 %

Shares of KVYO stock opened at $33.36 on Thursday. Klaviyo has a twelve month low of $21.26 and a twelve month high of $41.00. The stock has a market cap of $8.90 billion, a price-to-earnings ratio of -185.32 and a beta of 1.13. The company’s 50-day moving average price is $35.17 and its 200-day moving average price is $28.59.

Klaviyo (NYSE:KVYO) last posted its quarterly 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 business had revenue of $222.21 million during the quarter, compared to analysts’ expectations of $212.34 million. Klaviyo had a negative net margin of 5.23% and a positive return on equity of 0.87%. The business’s revenue for the quarter was up 35.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.09 EPS. As a group, equities research analysts predict that Klaviyo will post -0.01 EPS for the current year.

Insider Buying and Selling

In other Klaviyo news, President Stephen Eric Rowland sold 18,114 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $37.19, for a total transaction of $673,659.66. Following the completion of the transaction, the president now owns 192,488 shares in the company, valued at $7,158,628.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, major shareholder Summit Partners L. P sold 242,601 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $31.78, for a total value of $7,709,859.78. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, President Stephen Eric Rowland sold 18,114 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $37.19, for a total value of $673,659.66. Following the sale, the president now directly owns 192,488 shares in the company, valued at $7,158,628.72. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 789,711 shares of company stock worth $25,143,646. Company insiders own 53.24% of the company’s stock.

Hedge Funds Weigh In On Klaviyo

Hedge funds have recently added to or reduced their stakes in the stock. Quantbot Technologies LP boosted its holdings in shares of Klaviyo by 82.8% in the 1st quarter. Quantbot Technologies LP now owns 54,424 shares of the company’s stock valued at $1,387,000 after buying an additional 24,651 shares in the last quarter. Wealthspire Advisors LLC acquired a new position in Klaviyo in the first quarter valued at $364,000. Swiss National Bank purchased a new position in shares of Klaviyo during the first quarter worth about $1,776,000. Blair William & Co. IL increased its position in shares of Klaviyo by 1,234.0% during the first quarter. Blair William & Co. IL now owns 175,531 shares of the company’s stock worth $4,473,000 after purchasing an additional 162,373 shares in the last quarter. Finally, Cynosure Group LLC purchased a new stake in shares of Klaviyo in the 1st quarter valued at about $1,344,000. 45.43% of the stock is currently 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.