Klaviyo (NYSE:KVYO) Price Target Raised to $60.00

Klaviyo (NYSE:KVYO) had its target price boosted by Loop Capital from $45.00 to $60.00 in a research note published on Monday morning, MarketBeat Ratings reports. They currently have a buy rating on the stock.

KVYO has been the topic of several other research reports. Stifel Nicolaus assumed coverage on shares of Klaviyo in a research note on Tuesday, October 22nd. They issued a “buy” rating and a $45.00 price objective on the stock. Canaccord Genuity Group upped their price target on shares of Klaviyo from $32.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Benchmark reduced their price objective on Klaviyo from $42.00 to $40.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Barclays upped their target price on Klaviyo from $32.00 to $41.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Finally, Macquarie reiterated a “neutral” rating and set a $36.00 price target on shares of Klaviyo in a report on Friday, November 8th. Three investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, Klaviyo presently has a consensus rating of “Moderate Buy” and an average target price of $40.88.

Klaviyo Stock Up 1.6 %

Shares of Klaviyo stock opened at $43.53 on Monday. Klaviyo has a 12 month low of $21.26 and a 12 month high of $44.77. The business has a fifty day simple moving average of $38.33 and a 200-day simple moving average of $32.17.

Klaviyo (NYSE:KVYO) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.04. The firm had revenue of $235.09 million during the quarter, compared to analyst estimates of $226.33 million. Klaviyo had a positive return on equity of 0.86% and a negative net margin of 5.23%. The business’s quarterly revenue was up 33.7% compared to the same quarter last year. During the same period last year, the company posted ($1.24) EPS. As a group, equities research analysts expect that Klaviyo will post 0.03 EPS for the current year.

Insider Buying and Selling

In related news, insider Landon Edmond sold 40,000 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $34.56, for a total transaction of $1,382,400.00. Following the transaction, the insider now owns 236,621 shares of the company’s stock, valued at approximately $8,177,621.76. The trade was a 14.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President Stephen Eric Rowland sold 4,536 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $34.56, for a total transaction of $156,764.16. Following the completion of the sale, the president now directly owns 186,785 shares of the company’s stock, valued at approximately $6,455,289.60. This trade represents a 2.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 127,650 shares of company stock worth $4,676,705 in the last quarter. 53.24% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Barclays PLC lifted its stake in shares of Klaviyo by 1,202.0% in the third quarter. Barclays PLC now owns 12,825 shares of the company’s stock valued at $453,000 after buying an additional 11,840 shares during the period. Geode Capital Management LLC raised its holdings in Klaviyo by 45.1% in the 3rd quarter. Geode Capital Management LLC now owns 786,186 shares of the company’s stock valued at $27,827,000 after acquiring an additional 244,447 shares in the last quarter. Main Management ETF Advisors LLC bought a new stake in shares of Klaviyo in the 3rd quarter worth approximately $1,126,000. XTX Topco Ltd grew its holdings in shares of Klaviyo by 79.7% during the 3rd quarter. XTX Topco Ltd now owns 43,775 shares of the company’s stock worth $1,549,000 after purchasing an additional 19,412 shares in the last quarter. Finally, Whale Rock Capital Management LLC increased its position in shares of Klaviyo by 608.9% during the third quarter. Whale Rock Capital Management LLC now owns 3,600,606 shares of the company’s stock valued at $127,389,000 after purchasing an additional 3,092,725 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.