Klaviyo (NYSE:KVYO) Given “Outperform” Rating at William Blair

William Blair reiterated their outperform rating on shares of Klaviyo (NYSE:KVYO) in a research report sent to investors on Thursday,RTT News reports.

A number of other research firms have also issued reports on KVYO. Wells Fargo & Company reduced their target price on shares of Klaviyo from $48.00 to $45.00 and set an “equal weight” rating on the stock in a report on Thursday. Piper Sandler upped their price objective on shares of Klaviyo from $50.00 to $53.00 and gave the company an “overweight” rating in a research note on Thursday. Cantor Fitzgerald upped their price objective on shares of Klaviyo from $47.00 to $54.00 and gave the company an “overweight” rating in a research note on Thursday. KeyCorp upped their price objective on shares of Klaviyo from $42.00 to $45.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Finally, Macquarie reaffirmed a “neutral” rating and set a $36.00 price objective on shares of Klaviyo in a research note on Friday, November 8th. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $49.44.

Klaviyo Stock Performance

NYSE:KVYO opened at $44.23 on Thursday. The company’s 50-day moving average is $43.66 and its two-hundred day moving average is $37.80. Klaviyo has a 12-month low of $21.26 and a 12-month high of $49.55.

Klaviyo (NYSE:KVYO) last released its earnings results on Wednesday, February 19th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.12). The firm had revenue of $270.16 million during the quarter, compared to analysts’ expectations of $257.24 million. Klaviyo had a negative net margin of 4.92% and a positive return on equity of 0.90%. Analysts forecast that Klaviyo will post 0.04 earnings per share for the current fiscal year.

Insider Buying and Selling at Klaviyo

In other Klaviyo news, CFO Amanda Whalen sold 1,050 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $40.07, for a total value of $42,073.50. Following the completion of the sale, the chief financial officer now owns 395,616 shares of the company’s stock, valued at $15,852,333.12. This trade represents a 0.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Landon Edmond sold 40,000 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $41.80, for a total transaction of $1,672,000.00. Following the completion of the sale, the insider now directly owns 298,607 shares of the company’s stock, valued at $12,481,772.60. This trade represents a 11.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 114,536 shares of company stock valued at $4,720,953 over the last 90 days. 53.24% of the stock is owned by corporate insiders.

Institutional Trading of Klaviyo

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Klaviyo by 9.1% during the 4th quarter. Vanguard Group Inc. now owns 7,721,855 shares of the company’s stock valued at $318,449,000 after buying an additional 646,628 shares during the last quarter. Whale Rock Capital Management LLC boosted its stake in shares of Klaviyo by 7.4% during the 4th quarter. Whale Rock Capital Management LLC now owns 3,868,451 shares of the company’s stock valued at $159,535,000 after buying an additional 267,845 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Klaviyo by 5.0% during the 4th quarter. Bank of New York Mellon Corp now owns 2,926,187 shares of the company’s stock valued at $120,676,000 after buying an additional 140,127 shares during the last quarter. Clearbridge Investments LLC boosted its stake in shares of Klaviyo by 0.9% during the 4th quarter. Clearbridge Investments LLC now owns 2,168,336 shares of the company’s stock valued at $89,422,000 after buying an additional 19,567 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of Klaviyo by 48.6% during the 4th quarter. Franklin Resources Inc. now owns 1,943,523 shares of the company’s stock valued at $80,151,000 after buying an additional 635,962 shares during the last quarter. Institutional investors and hedge funds 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.