Klaviyo (NYSE:KVYO) Price Target Raised to $51.00 at Benchmark

Klaviyo (NYSE:KVYO) had its target price lifted by Benchmark from $40.00 to $51.00 in a report issued on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities research analysts have also recently commented on KVYO. Piper Sandler increased their target price on shares of Klaviyo from $45.00 to $50.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Wells Fargo & Company increased their target price on shares of Klaviyo from $41.00 to $48.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 12th. Canaccord Genuity Group increased their target price on shares of Klaviyo from $32.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. William Blair reissued an “outperform” rating on shares of Klaviyo in a research report on Thursday, December 19th. Finally, Robert W. Baird increased their target price on shares of Klaviyo from $42.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $49.44.

Klaviyo Stock Performance

Shares of KVYO opened at $41.79 on Wednesday. The company has a 50 day moving average price of $43.72 and a 200-day moving average price of $37.92. Klaviyo has a fifty-two week low of $21.26 and a fifty-two week high of $49.55. The stock has a market capitalization of $11.27 billion, a PE ratio of -232.14 and a beta of 0.60.

Klaviyo (NYSE:KVYO) last announced its quarterly earnings results on Wednesday, February 19th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate 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. Equities research analysts forecast that Klaviyo will post 0.04 EPS for the current year.

Insider Transactions at Klaviyo

In other news, insider Landon Edmond sold 40,000 shares of the stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $41.80, for a total value of $1,672,000.00. Following the sale, the insider now owns 298,607 shares in the company, valued at $12,481,772.60. This represents a 11.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Amanda Whalen sold 23,950 shares of the stock in a transaction on Friday, December 6th. The stock was sold at an average price of $40.04, for a total transaction of $958,958.00. Following the completion of the sale, the chief financial officer now owns 395,616 shares in the company, valued at $15,840,464.64. The trade was a 5.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 114,536 shares of company stock worth $4,720,953 over the last 90 days. 53.24% of the stock is currently owned by company insiders.

Institutional Trading of Klaviyo

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KVYO. Advisors Asset Management Inc. grew its position in Klaviyo by 145.6% during the third quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company’s stock valued at $48,000 after buying an additional 808 shares during the period. CIBC Private Wealth Group LLC lifted its holdings in Klaviyo by 169.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,752 shares of the company’s stock valued at $72,000 after purchasing an additional 1,102 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in Klaviyo by 77.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,874 shares of the company’s stock valued at $77,000 after purchasing an additional 818 shares in the last quarter. West Tower Group LLC purchased a new position in Klaviyo during the third quarter valued at $177,000. Finally, SBI Securities Co. Ltd. purchased a new position in Klaviyo during the fourth quarter valued at $196,000. Institutional investors and hedge funds 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.