Klaviyo (NYSE:KVYO) Reaches New 1-Year High Following Analyst Upgrade

Klaviyo, Inc. (NYSE:KVYO) shares reached a new 52-week high during trading on Friday after Piper Sandler raised their price target on the stock from $34.00 to $45.00. Piper Sandler currently has an overweight rating on the stock. Klaviyo traded as high as $38.40 and last traded at $38.40, with a volume of 51406 shares trading hands. The stock had previously closed at $37.36.

KVYO has been the subject of several other reports. Barclays lifted their price objective on Klaviyo from $32.00 to $41.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Needham & Company LLC reissued a “buy” rating and set a $40.00 price objective on shares of Klaviyo in a report on Wednesday, September 4th. KeyCorp upgraded Klaviyo from a “sector weight” rating to an “overweight” rating and set a $33.00 target price for the company in a research note on Thursday, August 8th. Cantor Fitzgerald lifted their price target on Klaviyo from $31.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Finally, Robert W. Baird increased their price objective on Klaviyo from $35.00 to $42.00 and gave the company an “outperform” rating in a report on Thursday, October 10th. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $36.87.

Insider Buying and Selling at Klaviyo

In other news, President Stephen Eric Rowland sold 18,114 shares of Klaviyo stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $31.67, for a total value of $573,670.38. Following the sale, the president now directly owns 192,488 shares of the company’s stock, valued at $6,096,094.96. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Klaviyo news, President Stephen Eric Rowland sold 18,114 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $31.67, for a total value of $573,670.38. Following the transaction, the president now directly owns 192,488 shares of the company’s stock, valued at $6,096,094.96. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Jeff Fagnan acquired 9,485 shares of Klaviyo stock in a transaction that occurred on Thursday, August 1st. The shares were bought at an average price of $26.43 per share, for a total transaction of $250,688.55. Following the transaction, the insider now owns 9,485 shares of the company’s stock, valued at $250,688.55. The disclosure for this purchase can be found here. Insiders have sold a total of 871,477 shares of company stock valued at $27,610,861 over the last ninety days. Corporate insiders own 53.24% of the company’s stock.

Hedge Funds Weigh In On Klaviyo

A number of institutional investors have recently bought and sold shares of KVYO. Bank of New York Mellon Corp lifted its stake in Klaviyo by 677.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,762,128 shares of the company’s stock worth $68,749,000 after acquiring an additional 2,406,973 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Klaviyo by 243.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,472,140 shares of the company’s stock valued at $40,896,000 after purchasing an additional 1,042,902 shares during the last quarter. Claro Advisors LLC purchased a new position in Klaviyo in the first quarter worth $23,510,000. Glynn Capital Management LLC lifted its holdings in Klaviyo by 291.3% in the first quarter. Glynn Capital Management LLC now owns 1,139,307 shares of the company’s stock valued at $29,030,000 after acquiring an additional 848,152 shares during the period. Finally, Millennium Management LLC lifted its holdings in 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 acquiring an additional 390,849 shares during the period. 45.43% of the stock is owned by hedge funds and other institutional investors.

Klaviyo Stock Performance

The firm’s 50-day simple moving average is $33.14 and its 200 day simple moving average is $27.08. The company has a market capitalization of $10.16 billion and a PE ratio of -26.50.

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

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.