Klaviyo (NYSE:KVYO) Price Target Raised to $47.00

Klaviyo (NYSE:KVYO) had its price target hoisted by Morgan Stanley from $38.00 to $47.00 in a research note released on Monday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

Other analysts also recently issued reports about the stock. Macquarie reissued a “neutral” rating and issued a $36.00 price target on shares of Klaviyo in a report on Friday, November 8th. Needham & Company LLC increased their target price on shares of Klaviyo from $40.00 to $46.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Robert W. Baird boosted their price target on Klaviyo from $42.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Wells Fargo & Company raised their price objective on Klaviyo from $37.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 7th. Finally, William Blair restated an “outperform” rating on shares of Klaviyo in a research report on Thursday, December 19th. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $42.29.

Klaviyo Stock Performance

NYSE KVYO opened at $40.07 on Monday. Klaviyo has a twelve month low of $21.26 and a twelve month high of $44.77. The stock has a market capitalization of $10.80 billion, a PE ratio of -222.60 and a beta of 0.57. The stock has a 50-day simple moving average of $39.24 and a 200 day simple moving average of $34.11.

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

Insider Activity

In related news, insider Landon Edmond sold 40,000 shares of the firm’s stock in a transaction on Tuesday, January 7th. The stock was 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Stephen Eric Rowland sold 4,536 shares of Klaviyo stock in a transaction on Monday, November 18th. The shares were sold at an average price of $34.56, for a total value of $156,764.16. Following the completion of the transaction, the president now owns 186,785 shares of the company’s stock, valued at approximately $6,455,289.60. The trade was a 2.37 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 154,536 shares of company stock worth $5,909,146. Insiders own 53.24% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Lisanti Capital Growth LLC bought a new position in shares of Klaviyo in the third quarter worth about $5,513,000. Pier 88 Investment Partners LLC acquired a new stake in shares of Klaviyo in the third quarter valued at approximately $966,000. SpiderRock Advisors LLC raised its position in Klaviyo by 1,571.7% in the 3rd quarter. SpiderRock Advisors LLC now owns 501,500 shares of the company’s stock worth $17,743,000 after purchasing an additional 471,500 shares during the last quarter. Integrated Wealth Concepts LLC bought a new position in Klaviyo in the 3rd quarter worth approximately $5,113,000. Finally, Canada Pension Plan Investment Board acquired a new position in Klaviyo during the 2nd quarter worth $747,000. 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.