Klaviyo (NYSE:KVYO) Price Target Increased to $41.00 by Analysts at Barclays

Klaviyo (NYSE:KVYO) had its target price boosted by Barclays from $32.00 to $41.00 in a research report report published on Friday morning, Benzinga reports. They currently have an overweight rating on the stock.

Other research analysts have also recently issued research reports about the stock. Benchmark initiated coverage on shares of Klaviyo in a research note on Monday, September 30th. They set a buy rating and a $42.00 price target for the company. Needham & Company LLC reaffirmed a buy rating and issued a $40.00 price target on shares of Klaviyo in a research note on Wednesday, September 4th. Robert W. Baird increased their price objective on Klaviyo from $35.00 to $42.00 and gave the stock an outperform rating in a research note on Thursday. Piper Sandler upped their target price on shares of Klaviyo from $30.00 to $34.00 and gave the stock an overweight rating in a report on Thursday, August 8th. Finally, KeyCorp upgraded shares of Klaviyo from a sector weight rating to an overweight rating and set a $33.00 price target on the stock in a research report on Thursday, August 8th. Three research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $36.89.

Klaviyo Stock Up 1.4 %

KVYO opened at $37.00 on Friday. The stock’s 50 day moving average price is $32.15 and its two-hundred day moving average price is $26.76. Klaviyo has a 12-month low of $21.26 and a 12-month high of $37.64. The firm has a market capitalization of $9.87 billion and a P/E ratio of -26.24.

Klaviyo (NYSE:KVYO) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.10 by $0.05. Klaviyo had a negative return on equity of 32.19% and a negative net margin of 42.15%. The firm had revenue of $222.21 million during the quarter, compared to analysts’ expectations of $212.34 million. During the same quarter in the prior year, the firm posted $0.09 EPS. The company’s revenue for the quarter was up 35.0% on a year-over-year basis. As a group, analysts anticipate that Klaviyo will post -0.01 earnings per share for the current year.

Insider Buying and Selling at Klaviyo

In other news, major shareholder Jeff Fagnan purchased 9,485 shares of Klaviyo stock in a transaction dated Thursday, August 1st. The shares were bought at an average cost of $26.43 per share, with a total value of $250,688.55. Following the completion of the transaction, the insider now directly owns 9,485 shares in the company, valued at $250,688.55. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Klaviyo news, CFO Amanda Whalen sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $29.72, for a total transaction of $297,200.00. Following the completion of the transaction, the chief financial officer now owns 422,813 shares of the company’s stock, valued at $12,566,002.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Jeff Fagnan acquired 9,485 shares of the stock in a transaction dated Thursday, August 1st. The stock was acquired at an average price of $26.43 per share, for a total transaction of $250,688.55. Following the completion of the acquisition, the insider now directly owns 9,485 shares of the company’s stock, valued at $250,688.55. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 853,363 shares of company stock valued at $26,937,202. Corporate insiders own 53.24% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in KVYO. Creative Planning acquired a new stake in Klaviyo during the 3rd quarter valued at $254,000. Point72 Asset Management L.P. bought a new stake in shares of Klaviyo in the second quarter valued at approximately $2,685,000. Millennium Management LLC boosted its stake in shares of Klaviyo by 53.6% in the second quarter. Millennium Management LLC now owns 1,120,485 shares of the company’s stock valued at $27,889,000 after buying an additional 390,849 shares during the period. Dark Forest Capital Management LP grew its position in Klaviyo by 13.7% during the second quarter. Dark Forest Capital Management LP now owns 23,689 shares of the company’s stock worth $590,000 after buying an additional 2,851 shares in the last quarter. Finally, Diker Management LLC increased its stake in Klaviyo by 33.3% during the 2nd quarter. Diker Management LLC now owns 200,000 shares of the company’s stock worth $4,978,000 after acquiring an additional 50,000 shares during the period. Institutional investors own 45.43% of the company’s stock.

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.