Klaviyo (NYSE:KVYO) Stock Price Expected to Rise, Piper Sandler Analyst Says

Klaviyo (NYSE:KVYO) had its price objective increased by research analysts at Piper Sandler from $45.00 to $50.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s target price indicates a potential upside of 20.08% from the stock’s current price.

Several other research analysts have also issued reports on the company. William Blair reiterated an “outperform” rating on shares of Klaviyo in a research note on Thursday, December 19th. Needham & Company LLC lifted their price target on shares of Klaviyo from $40.00 to $46.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Robert W. Baird upped their price objective on shares of Klaviyo from $42.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Canaccord Genuity Group lifted their target price 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, Wells Fargo & Company restated a “buy” rating on shares of Klaviyo in a research report on Friday, October 18th. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $41.41.

Klaviyo Stock Performance

NYSE:KVYO opened at $41.64 on Monday. The company has a 50-day moving average of $39.14 and a 200-day moving average of $33.54. Klaviyo has a 52 week low of $21.26 and a 52 week high of $44.77. The company has a market capitalization of $11.23 billion, a price-to-earnings ratio of -231.32 and a beta of 0.57.

Klaviyo (NYSE:KVYO) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.04. Klaviyo had a positive return on equity of 0.86% and a negative net margin of 5.23%. The company had revenue of $235.09 million for the quarter, compared to the consensus estimate of $226.33 million. During the same period in the previous year, the business earned ($1.24) earnings per share. The company’s quarterly revenue was up 33.7% on a year-over-year basis. Sell-side analysts forecast that Klaviyo will post 0.03 EPS for the current year.

Insider Activity

In related news, CFO Amanda Whalen sold 15,000 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $34.56, for a total value of $518,400.00. Following the completion of the sale, the chief financial officer now owns 395,616 shares in the company, valued at approximately $13,672,488.96. This represents a 3.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, President Stephen Eric Rowland sold 4,536 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $34.56, for a total value of $156,764.16. Following the transaction, the president now owns 186,785 shares in the company, valued at approximately $6,455,289.60. This trade represents a 2.37 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 117,650 shares of company stock valued at $4,323,105. 53.24% of the stock is currently owned by insiders.

Institutional Trading of Klaviyo

Hedge funds have recently modified their holdings of the company. Advisors Asset Management Inc. increased its stake in Klaviyo by 145.6% in the third quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company’s stock valued at $48,000 after purchasing an additional 808 shares in the last quarter. nVerses Capital LLC acquired a new position in shares of Klaviyo in the 3rd quarter valued at $53,000. West Tower Group LLC bought a new stake in shares of Klaviyo in the 3rd quarter valued at $177,000. Victory Capital Management Inc. acquired a new stake in Klaviyo during the 3rd quarter worth $208,000. Finally, William Marsh Rice University bought a new position in Klaviyo during the third quarter worth about $245,000. 45.43% of the stock is currently owned by institutional investors and hedge funds.

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.