Klaviyo (NYSE:KVYO) Upgraded to “Hold” at Macquarie

Klaviyo (NYSE:KVYO) was upgraded by analysts at Macquarie to a “hold” rating in a research note issued on Wednesday, Zacks.com reports.

A number of other equities research analysts have also recently commented on KVYO. Wells Fargo & Company reaffirmed a “buy” rating on shares of Klaviyo in a research note on Friday, October 18th. Stifel Nicolaus initiated coverage on Klaviyo in a research report on Tuesday, October 22nd. They set a “buy” rating and a $45.00 target price on the stock. Robert W. Baird increased their price target on Klaviyo from $35.00 to $42.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. Cantor Fitzgerald raised their price target on shares of Klaviyo from $31.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Finally, Barclays increased their target price on Klaviyo from $32.00 to $41.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Three equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.29.

Klaviyo Trading Down 1.6 %

KVYO opened at $38.01 on Wednesday. Klaviyo has a 12-month low of $21.26 and a 12-month high of $39.92. The firm has a 50 day moving average of $34.52 and a two-hundred day moving average of $28.06. The firm has a market capitalization of $10.14 billion and a PE ratio of -26.96.

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

Insider Buying and Selling

In other Klaviyo news, President Stephen Eric Rowland sold 18,114 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $37.19, for a total transaction of $673,659.66. Following the completion of the transaction, the president now owns 192,488 shares in the company, valued at $7,158,628.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, President Stephen Eric Rowland sold 18,114 shares of Klaviyo stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $37.19, for a total transaction of $673,659.66. Following the completion of the sale, the president now directly owns 192,488 shares of the company’s stock, valued at approximately $7,158,628.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Summit Partners L. P sold 242,601 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $31.78, for a total value of $7,709,859.78. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 871,477 shares of company stock worth $27,610,861. Company insiders own 53.24% of the company’s stock.

Institutional Investors Weigh In On Klaviyo

Institutional investors and hedge funds have recently bought and sold shares of the stock. Quantbot Technologies LP boosted its position in shares of Klaviyo by 82.8% in the 1st quarter. Quantbot Technologies LP now owns 54,424 shares of the company’s stock valued at $1,387,000 after purchasing an additional 24,651 shares during the period. Wealthspire Advisors LLC purchased a new stake in Klaviyo in the 1st quarter valued at $364,000. Glynn Capital Management LLC raised its holdings in shares of 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 buying an additional 848,152 shares during the last quarter. Swiss National Bank acquired a new position in Klaviyo in the 1st quarter valued at about $1,776,000. Finally, Blair William & Co. IL boosted its holdings in shares of Klaviyo by 1,234.0% in the first quarter. Blair William & Co. IL now owns 175,531 shares of the company’s stock valued at $4,473,000 after acquiring an additional 162,373 shares in the last quarter. 45.43% of the stock is owned by hedge funds and other institutional investors.

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.