Klaviyo (NYSE:KVYO) Price Target Raised to $46.00 at Needham & Company LLC

Klaviyo (NYSE:KVYO) had its target price increased by Needham & Company LLC from $40.00 to $46.00 in a report released on Thursday,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

Other research analysts also recently issued reports about the stock. Benchmark reduced their price target on shares of Klaviyo from $42.00 to $40.00 and set a “buy” rating on the stock in a research report on Thursday. Piper Sandler upped their target price on Klaviyo from $34.00 to $45.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Barclays boosted their price objective on Klaviyo from $32.00 to $41.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Robert W. Baird increased their target price on Klaviyo from $42.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Macquarie assumed coverage on Klaviyo in a research note on Thursday, October 31st. They issued a “neutral” rating and a $36.00 price target for the company. Three investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $39.00.

Klaviyo Stock Down 1.3 %

Shares of Klaviyo stock traded down $0.43 on Thursday, hitting $33.35. 1,327,820 shares of the company’s stock traded hands, compared to its average volume of 1,157,746. Klaviyo has a 52-week low of $21.26 and a 52-week high of $41.00. The stock has a market cap of $8.89 billion, a P/E ratio of -24.08 and a beta of 1.13. The firm’s 50-day moving average is $35.12 and its 200 day moving average is $28.55.

Klaviyo (NYSE:KVYO) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.05. The company had revenue of $222.21 million during the quarter, compared to analyst estimates of $212.34 million. Klaviyo had a negative net margin of 42.15% and a negative return on equity of 32.19%. The firm’s revenue for the quarter was up 35.0% compared to the same quarter last year. During the same period last year, the business earned $0.09 EPS. Equities research analysts forecast that Klaviyo will post -0.01 EPS for the current year.

Insider Buying and Selling

In other news, President Stephen Eric Rowland sold 18,114 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $31.67, for a total value of $573,670.38. Following the completion of the sale, the president now owns 192,488 shares of the company’s stock, valued at $6,096,094.96. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, CFO Amanda Whalen sold 10,000 shares of the company’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $35.36, for a total value of $353,600.00. Following the transaction, the chief financial officer now directly owns 422,813 shares of the company’s stock, valued at approximately $14,950,667.68. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Stephen Eric Rowland sold 18,114 shares of Klaviyo stock in a transaction on Friday, August 16th. The shares were sold at an average price of $31.67, for a total value of $573,670.38. Following the sale, the president now directly owns 192,488 shares of the company’s stock, valued at approximately $6,096,094.96. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 789,711 shares of company stock valued at $25,143,646. Company insiders own 53.24% of the company’s stock.

Institutional Investors Weigh In On Klaviyo

Large investors have recently made changes to their positions in the company. Bank of New York Mellon Corp raised its holdings in Klaviyo by 677.7% in the 2nd 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 raised its stake in shares of Klaviyo by 1,571.7% in the 3rd quarter. SpiderRock Advisors LLC now owns 501,500 shares of the company’s stock valued at $17,743,000 after buying an additional 471,500 shares in the last quarter. Mayflower Financial Advisors LLC raised its position in Klaviyo by 181.4% in the third quarter. Mayflower Financial Advisors LLC now owns 684,948 shares of the company’s stock worth $24,233,000 after purchasing an additional 441,500 shares in the last quarter. Millennium Management LLC lifted its position in shares of Klaviyo by 53.6% during the 2nd quarter. Millennium Management LLC now owns 1,120,485 shares of the company’s stock worth $27,889,000 after buying an additional 390,849 shares during the period. Finally, Claro Advisors LLC grew its holdings in shares of 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 during the last quarter. Institutional investors own 45.43% of the company’s stock.

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.