Klaviyo (NYSE:KVYO) Price Target Raised to $52.00

Klaviyo (NYSE:KVYO) had its price target upped by Mizuho from $42.00 to $52.00 in a research note released on Thursday morning,Benzinga reports. Mizuho currently has an outperform rating on the stock.

A number of other analysts have also recently weighed in on KVYO. Needham & Company LLC boosted their price target on Klaviyo from $46.00 to $56.00 and gave the stock a “buy” rating in a research report on Thursday. Loop Capital boosted their target price on Klaviyo from $45.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, December 23rd. Citigroup increased their price target on Klaviyo from $39.00 to $48.00 and gave the company a “neutral” rating in a report on Tuesday, February 11th. Benchmark boosted their price objective on shares of Klaviyo from $40.00 to $51.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Canaccord Genuity Group upped their price objective on shares of Klaviyo from $40.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $49.44.

Klaviyo Stock Performance

NYSE:KVYO opened at $41.79 on Thursday. The company has a market capitalization of $11.27 billion, a P/E ratio of -232.14 and a beta of 0.60. The stock’s 50 day moving average price is $43.72 and its 200 day moving average price is $38.04. Klaviyo has a 52 week low of $21.26 and a 52 week high of $49.55.

Klaviyo (NYSE:KVYO) last announced its quarterly earnings results on Wednesday, February 19th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.12). Klaviyo had a positive return on equity of 0.89% and a negative net margin of 4.92%. The business had revenue of $270.16 million for the quarter, compared to analyst estimates of $257.24 million. As a group, sell-side analysts forecast that Klaviyo will post 0.04 earnings per share for the current fiscal year.

Insiders Place Their Bets

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 value of $181,621.44. Following the sale, 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Amanda Whalen sold 1,050 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $40.07, for a total transaction of $42,073.50. Following the transaction, the chief financial officer now directly 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 disclosure for this sale can be found here. In the last quarter, insiders sold 114,536 shares of company stock worth $4,720,953. 53.24% of the stock is currently owned by company insiders.

Institutional Trading of Klaviyo

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KVYO. Bank Julius Baer & Co. Ltd Zurich lifted its stake in Klaviyo by 8.0% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,836 shares of the company’s stock worth $220,000 after purchasing an additional 359 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Klaviyo by 10.3% in the 4th quarter. Victory Capital Management Inc. now owns 6,469 shares of the company’s stock worth $267,000 after buying an additional 604 shares in the last quarter. Arizona State Retirement System lifted its position in shares of Klaviyo by 4.0% during the 4th quarter. Arizona State Retirement System now owns 16,854 shares of the company’s stock worth $695,000 after buying an additional 648 shares during the period. The Manufacturers Life Insurance Company boosted its stake in Klaviyo by 5.0% in the 4th quarter. The Manufacturers Life Insurance Company now owns 14,285 shares of the company’s stock valued at $589,000 after buying an additional 677 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its position 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 acquiring an additional 808 shares during the period. 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.