Klaviyo (NYSE:KVYO) Price Target Raised to $50.00

Klaviyo (NYSE:KVYO) had its price objective raised by stock analysts at Morgan Stanley from $47.00 to $50.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s target price points to a potential upside of 17.99% from the stock’s current price.

A number of other research firms have also weighed in on KVYO. Cantor Fitzgerald boosted their price target on shares of Klaviyo from $47.00 to $54.00 and gave the stock an “overweight” rating in a research report on Thursday. Piper Sandler boosted their target price on Klaviyo from $50.00 to $53.00 and gave the stock an “overweight” rating in a report on Thursday. Canaccord Genuity Group increased their price target on Klaviyo from $32.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, November 7th. William Blair reiterated an “outperform” rating on shares of Klaviyo in a research report on Thursday, December 19th. Finally, Benchmark upped their target price on Klaviyo from $40.00 to $51.00 and gave the company a “buy” rating in a report on Wednesday. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $46.65.

Klaviyo Stock Down 9.8 %

Shares of NYSE KVYO traded down $4.63 during midday trading on Thursday, hitting $42.38. The stock had a trading volume of 1,801,239 shares, compared to its average volume of 1,146,907. The stock has a 50 day simple moving average of $43.56 and a 200-day simple moving average of $37.75. The company has a market capitalization of $11.43 billion, a PE ratio of -236.11 and a beta of 0.60. Klaviyo has a 1 year low of $21.26 and a 1 year high of $49.55.

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

Insider Transactions at Klaviyo

In other Klaviyo news, CFO Amanda Whalen sold 1,050 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $40.07, for a total value of $42,073.50. Following the sale, the chief financial officer now owns 395,616 shares of the company’s stock, valued at $15,852,333.12. The trade was a 0.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Landon Edmond sold 40,000 shares of the firm’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $41.80, for a total value of $1,672,000.00. Following the transaction, the insider now owns 298,607 shares of the company’s stock, valued at approximately $12,481,772.60. This represents a 11.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 114,536 shares of company stock worth $4,720,953. 53.24% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Klaviyo

Several institutional investors and hedge funds have recently modified their holdings of KVYO. Advisors Asset Management Inc. raised its holdings in shares of Klaviyo by 145.6% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company’s stock valued at $48,000 after buying an additional 808 shares during the period. CIBC Private Wealth Group LLC raised its holdings in shares of Klaviyo by 169.5% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,752 shares of the company’s stock valued at $72,000 after buying an additional 1,102 shares during the period. Tower Research Capital LLC TRC raised its holdings in shares of Klaviyo by 77.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,874 shares of the company’s stock valued at $77,000 after buying an additional 818 shares during the period. West Tower Group LLC purchased a new stake in shares of Klaviyo in the 3rd quarter valued at $177,000. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of Klaviyo in the 4th quarter valued at $196,000. Hedge funds and other 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.