Klaviyo (NYSE:KVYO) Price Target Raised to $56.00 at Needham & Company LLC

Klaviyo (NYSE:KVYO) had its price objective upped by Needham & Company LLC from $46.00 to $56.00 in a research report sent to investors on Thursday morning,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

A number of other analysts have also weighed in on the company. 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 note on Thursday, November 7th. Wells Fargo & Company increased their price target on Klaviyo from $41.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 12th. KeyCorp increased their price target on Klaviyo from $42.00 to $45.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. William Blair reissued an “outperform” rating on shares of Klaviyo in a research report on Thursday, December 19th. Finally, Cantor Fitzgerald increased their price target on Klaviyo from $33.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $49.44.

Klaviyo Trading Down 5.9 %

KVYO stock opened at $44.23 on Thursday. The business’s fifty day simple moving average is $43.66 and its two-hundred day simple moving average is $37.80. Klaviyo has a twelve month low of $21.26 and a twelve month high of $49.55.

Klaviyo (NYSE:KVYO) last released its earnings results 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 positive return on equity of 0.90% and a negative net margin of 4.92%. The business had revenue of $270.16 million during the quarter, compared to analysts’ expectations of $257.24 million. Analysts forecast that Klaviyo will post 0.04 EPS for the current year.

Insider Activity at Klaviyo

In other Klaviyo news, President Stephen Eric Rowland sold 4,536 shares of the stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $40.04, for a total value of $181,621.44. Following the completion of the sale, the president now directly owns 260,403 shares in the company, valued at approximately $10,426,536.12. This trade represents a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Amanda Whalen sold 1,050 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $40.07, for a total value of $42,073.50. Following the completion of the sale, the chief financial officer now owns 395,616 shares of the company’s stock, valued at approximately $15,852,333.12. This trade represents a 0.26 % 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 valued at $4,720,953 over the last quarter. 53.24% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Klaviyo

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Whale Rock Capital Management LLC raised its stake in shares of Klaviyo by 608.9% in the third quarter. Whale Rock Capital Management LLC now owns 3,600,606 shares of the company’s stock worth $127,389,000 after purchasing an additional 3,092,725 shares during the last quarter. Focus Partners Wealth purchased a new position in shares of Klaviyo in the fourth quarter worth about $38,870,000. D. E. Shaw & Co. Inc. raised its stake in shares of Klaviyo by 195.4% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,310,227 shares of the company’s stock worth $54,034,000 after purchasing an additional 866,749 shares during the last quarter. Lord Abbett & CO. LLC purchased a new position in shares of Klaviyo in the fourth quarter worth about $30,851,000. Finally, Ameriprise Financial Inc. raised its stake in shares of Klaviyo by 229.5% in the fourth quarter. Ameriprise Financial Inc. now owns 982,134 shares of the company’s stock worth $40,507,000 after purchasing an additional 684,026 shares during the last quarter. 45.43% of the stock is currently owned by hedge funds and other institutional investors.

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.