Klaviyo (NYSE:KVYO) Sets New 1-Year High After Analyst Upgrade

Klaviyo, Inc. (NYSE:KVYO) shares reached a new 52-week high on Monday after Loop Capital raised their price target on the stock from $45.00 to $60.00. Loop Capital currently has a buy rating on the stock. Klaviyo traded as high as $46.00 and last traded at $46.00, with a volume of 2739 shares trading hands. The stock had previously closed at $44.08.

Several other equities research analysts have also recently issued reports on the company. Barclays lifted their target price on Klaviyo from $32.00 to $41.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. William Blair reaffirmed an “outperform” rating on shares of Klaviyo in a research note on Thursday. Robert W. Baird increased their target price on Klaviyo from $42.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Canaccord Genuity Group upped their price target on shares of Klaviyo from $32.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Piper Sandler lifted their price objective on shares of Klaviyo from $34.00 to $45.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Three investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $40.88.

Insider Buying and Selling at Klaviyo

In other Klaviyo news, CFO Amanda Whalen sold 10,000 shares of the firm’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $35.36, for a total transaction of $353,600.00. Following the transaction, the chief financial officer now owns 422,813 shares of the company’s stock, valued at approximately $14,950,667.68. This trade represents a 2.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Landon Edmond sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $34.56, for a total transaction of $1,382,400.00. Following the completion of the sale, the insider now directly owns 236,621 shares of the company’s stock, valued at $8,177,621.76. The trade was a 14.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 127,650 shares of company stock valued at $4,676,705 in the last three months. Company insiders own 53.24% of the company’s stock.

Hedge Funds Weigh In On Klaviyo

Large investors have recently bought and sold shares of the business. Barclays PLC grew its stake in Klaviyo by 1,202.0% during the 3rd quarter. Barclays PLC now owns 12,825 shares of the company’s stock worth $453,000 after buying an additional 11,840 shares during the last quarter. Geode Capital Management LLC grew its position in Klaviyo by 45.1% during the 3rd quarter. Geode Capital Management LLC now owns 786,186 shares of the company’s stock worth $27,827,000 after purchasing an additional 244,447 shares during the last quarter. Main Management ETF Advisors LLC acquired a new position in Klaviyo during the 3rd quarter valued at approximately $1,126,000. XTX Topco Ltd raised its holdings in shares of Klaviyo by 79.7% in the third quarter. XTX Topco Ltd now owns 43,775 shares of the company’s stock worth $1,549,000 after buying an additional 19,412 shares during the last quarter. Finally, Whale Rock Capital Management LLC lifted its stake in shares of Klaviyo by 608.9% during the third quarter. Whale Rock Capital Management LLC now owns 3,600,606 shares of the company’s stock worth $127,389,000 after buying an additional 3,092,725 shares during the period. Institutional investors own 45.43% of the company’s stock.

Klaviyo Stock Performance

The stock has a 50 day moving average of $38.09 and a 200-day moving average of $31.81. The company has a market cap of $11.69 billion, a PE ratio of -240.93 and a beta of 0.97.

Klaviyo (NYSE:KVYO) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.04. The firm had revenue of $235.09 million during the quarter, compared to analysts’ expectations of $226.33 million. Klaviyo had a positive return on equity of 0.86% and a negative net margin of 5.23%. The company’s revenue for the quarter was up 33.7% compared to the same quarter last year. During the same period last year, the business posted ($1.24) earnings per share. Equities research analysts forecast that Klaviyo, Inc. will post 0.03 EPS for the current year.

Klaviyo Company Profile

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.