Klaviyo (NYSE:KVYO) Price Target Raised to $56.00 at Needham & Company LLC

Klaviyo (NYSE:KVYO) had its price target increased by equities researchers at Needham & Company LLC from $46.00 to $56.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price target would indicate a potential upside of 19.30% from the company’s current price.

Several other equities research analysts also recently issued reports on the company. Citigroup lifted their price objective on Klaviyo from $39.00 to $48.00 and gave the stock a “neutral” rating in a report on Tuesday, February 11th. Macquarie restated a “neutral” rating and issued a $36.00 price target on shares of Klaviyo in a research note on Friday, November 8th. KeyCorp increased 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. Scotiabank boosted their target price on shares of Klaviyo from $35.00 to $45.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 29th. Finally, Benchmark lifted their price target on Klaviyo from $40.00 to $51.00 and gave the stock a “buy” rating in a research note on Wednesday. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $45.53.

Klaviyo Trading Down 0.7 %

NYSE KVYO opened at $46.94 on Thursday. The company’s fifty day simple moving average is $43.56 and its 200-day simple moving average is $37.75. The stock has a market cap of $12.66 billion, a P/E ratio of -260.76 and a beta of 0.60. Klaviyo has a 52 week low of $21.26 and a 52 week high of $49.55.

Klaviyo (NYSE:KVYO) last issued its quarterly earnings data on Wednesday, February 19th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.12). Klaviyo had a positive return on equity of 0.86% and a negative net margin of 5.23%. On average, research analysts expect that Klaviyo will post 0.03 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Amanda Whalen sold 23,950 shares of the business’s stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 395,616 shares in the company, valued at approximately $15,840,464.64. The trade was a 5.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Landon Edmond sold 40,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 298,607 shares in the company, valued at approximately $12,481,772.60. This represents a 11.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 114,536 shares of company stock valued at $4,720,953 in the last quarter. Company insiders own 53.24% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in KVYO. Creative Planning bought a new stake in shares of Klaviyo during the 3rd quarter worth about $254,000. SpiderRock Advisors LLC raised its holdings in Klaviyo by 1,571.7% during the third 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 in the last quarter. Mayflower Financial Advisors LLC lifted its position in Klaviyo by 181.4% in the third quarter. Mayflower Financial Advisors LLC now owns 684,948 shares of the company’s stock worth $24,233,000 after purchasing an additional 441,500 shares during the period. Lisanti Capital Growth LLC acquired a new stake in Klaviyo in the third quarter worth approximately $5,513,000. Finally, Aigen Investment Management LP bought a new position in Klaviyo during the 3rd quarter valued at $335,000. 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.