Canaccord Genuity Group Issues Positive Forecast for Klaviyo (NYSE:KVYO) Stock Price

Klaviyo (NYSE:KVYO) had its target price lifted by analysts at Canaccord Genuity Group from $40.00 to $50.00 in a report released on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price target suggests a potential upside of 18.75% from the stock’s current price.

KVYO has been the topic of several other research reports. Macquarie restated a “neutral” rating and set a $36.00 price objective on shares of Klaviyo in a report on Friday, November 8th. Morgan Stanley boosted their price target on shares of Klaviyo from $47.00 to $50.00 and gave the company an “equal weight” rating in a report on Thursday. Citigroup raised their target price on Klaviyo from $39.00 to $48.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 11th. Loop Capital lifted their target price on Klaviyo from $45.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, December 23rd. Finally, Benchmark increased their price target on shares of Klaviyo from $40.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $47.24.

Klaviyo Stock Down 10.4 %

Klaviyo stock traded down $4.90 during mid-day trading on Thursday, hitting $42.11. The company’s stock had a trading volume of 1,897,985 shares, compared to its average volume of 1,159,785. The stock has a market capitalization of $11.35 billion, a P/E ratio of -234.29 and a beta of 0.60. Klaviyo has a twelve month low of $21.26 and a twelve month high of $49.55. The stock’s fifty day moving average price is $43.56 and its two-hundred day moving average price is $37.75.

Klaviyo (NYSE:KVYO) last issued its earnings results on Wednesday, February 19th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.12). The company had revenue of $270.16 million during the quarter, compared to analyst estimates of $257.24 million. Klaviyo had a positive return on equity of 0.86% and a negative net margin of 5.23%. Equities analysts expect that Klaviyo will post 0.03 earnings per share for the current year.

Insider Buying and Selling at Klaviyo

In other Klaviyo news, President Stephen Eric Rowland sold 4,536 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $40.04, for a total transaction of $181,621.44. Following the completion of the transaction, the president now owns 260,403 shares of the company’s stock, valued at $10,426,536.12. The trade was a 1.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Amanda Whalen sold 23,950 shares of Klaviyo stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $40.04, for a total value of $958,958.00. Following the completion of the transaction, the chief financial officer now owns 395,616 shares in the company, valued at $15,840,464.64. The trade was a 5.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 114,536 shares of company stock worth $4,720,953 over the last 90 days. Insiders own 53.24% of the company’s stock.

Institutional Trading of Klaviyo

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KVYO. Lisanti Capital Growth LLC bought a new stake in shares of Klaviyo in the third quarter valued at approximately $5,513,000. Pier 88 Investment Partners LLC bought a new position in Klaviyo during the third quarter worth $966,000. SpiderRock Advisors LLC raised its stake in Klaviyo by 1,571.7% during the 3rd quarter. SpiderRock Advisors LLC now owns 501,500 shares of the company’s stock valued at $17,743,000 after purchasing an additional 471,500 shares during the last quarter. Integrated Wealth Concepts LLC bought a new stake in Klaviyo in the 3rd quarter valued at $5,113,000. Finally, Renaissance Capital LLC grew its position in Klaviyo by 56.4% in the 4th quarter. Renaissance Capital LLC now owns 122,646 shares of the company’s stock worth $5,058,000 after purchasing an additional 44,245 shares during the last quarter. Institutional investors and hedge funds 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.