Klaviyo, Inc. (NYSE:KVYO) Receives Average Recommendation of "Moderate Buy" from Brokerages

Key Points

• Klaviyo, Inc. (NYSE:KVYO) has received a consensus rating of "Moderate Buy" from twenty brokerages, with 16 issuing buy recommendations and 4 recommending a hold.
• The average 12-month target price set by analysts for Klaviyo is $42.47, with recent target upgrades including Cantor Fitzgerald raising it to $48.00.
• The company reported a 33.3% increase in revenue year-over-year, with a quarterly revenue of $279.83 million and $0.14 earnings per share, surpassing analyst expectations.

Klaviyo, Inc. (NYSE:KVYO - Get Free Report) has earned an average recommendation of "Moderate Buy" from the twenty brokerages that are presently covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation and sixteen have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $42.47.

KVYO has been the subject of a number of recent analyst reports. Barclays raised their price objective on Klaviyo from $35.00 to $38.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 7th. Needham & Company LLC reduced their target price on Klaviyo from $56.00 to $45.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Benchmark raised their target price on Klaviyo from $43.00 to $44.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Truist Financial reduced their price objective on Klaviyo from $55.00 to $40.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. Finally, Wells Fargo & Company upgraded Klaviyo from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $32.00 to $40.00 in a research note on Friday, June 13th.

Insider Buying and Selling at Klaviyo

In other Klaviyo news, President Stephen Eric Rowland sold 7,079 shares of the business's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $31.56, for a total transaction of $223,413.24. Following the transaction, the president owned 435,845 shares of the company's stock, valued at $13,755,268.20. The trade was a 1.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Landon Edmond sold 9,965 shares of the company's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $34.85, for a total value of $347,280.25. Following the completion of the transaction, the insider directly owned 404,744 shares in the company, valued at $14,105,328.40. The trade was a 2.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,094,418 shares of company stock valued at $268,580,202 in the last ninety days. Insiders own 53.24% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. TFC Financial Management Inc. acquired a new stake in Klaviyo in the first quarter valued at $27,000. CWM LLC grew its stake in shares of Klaviyo by 227.5% in the 1st quarter. CWM LLC now owns 930 shares of the company's stock valued at $28,000 after buying an additional 646 shares during the period. State of Wyoming acquired a new stake in shares of Klaviyo in the 1st quarter valued at about $42,000. Caitong International Asset Management Co. Ltd lifted its position in Klaviyo by 217.9% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,421 shares of the company's stock valued at $43,000 after acquiring an additional 974 shares in the last quarter. Finally, CIBC Private Wealth Group LLC lifted its position in shares of Klaviyo by 169.5% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,752 shares of the company's stock worth $72,000 after buying an additional 1,102 shares in the last quarter. 45.43% of the stock is currently owned by institutional investors.

Klaviyo Price Performance

Shares of NYSE:KVYO traded up $0.81 during trading hours on Friday, hitting $33.85. 964,770 shares of the company's stock traded hands, compared to its average volume of 1,787,525. The business has a fifty day moving average price of $33.35 and a 200-day moving average price of $35.19. The firm has a market capitalization of $10.05 billion, a P/E ratio of -188.05 and a beta of 1.37. Klaviyo has a 1 year low of $22.12 and a 1 year high of $49.55.

Klaviyo (NYSE:KVYO - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.02. The business had revenue of $279.83 million for the quarter, compared to analysts' expectations of $267.79 million. Klaviyo had a positive return on equity of 0.74% and a negative net margin of 4.70%. The business's revenue for the quarter was up 33.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.13 EPS. As a group, equities analysts predict that Klaviyo will post 0.04 earnings per share for the current year.

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.