Brokerages Set Klaviyo, Inc. (NYSE:KVYO) Price Target at $43.21

Klaviyo, Inc. (NYSE:KVYO - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the twenty brokerages that are presently covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $43.21.

A number of analysts recently issued reports on the company. Stephens assumed coverage on Klaviyo in a research report on Wednesday, March 19th. They issued an "overweight" rating and a $43.00 target price for the company. Barclays upped their target price on Klaviyo from $35.00 to $38.00 and gave the company an "overweight" rating in a research report on Wednesday, May 7th. The Goldman Sachs Group decreased their target price on Klaviyo from $51.00 to $44.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Benchmark increased their price objective on Klaviyo from $43.00 to $44.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Finally, Wells Fargo & Company raised Klaviyo from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $32.00 to $40.00 in a research report on Friday, June 13th.

Insider Buying and Selling at Klaviyo

In related news, insider Carmel Galvin sold 11,156 shares of Klaviyo stock in a transaction on Friday, May 16th. The stock was sold at an average price of $35.01, for a total value of $390,571.56. Following the transaction, the insider owned 711,805 shares in the company, valued at approximately $24,920,293.05. This trade represents a 1.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Amanda Whalen sold 15,000 shares of Klaviyo stock in a transaction on Friday, June 13th. The shares were sold at an average price of $33.47, for a total value of $502,050.00. Following the completion of the transaction, the chief financial officer owned 517,831 shares in the company, valued at $17,331,803.57. The trade was a 2.82% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 8,087,320 shares of company stock valued at $268,247,195. 49.92% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Klaviyo by 9.7% in the first quarter. Vanguard Group Inc. now owns 8,467,933 shares of the company's stock valued at $256,240,000 after acquiring an additional 746,078 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in Klaviyo by 0.6% in the first quarter. Alliancebernstein L.P. now owns 4,019,280 shares of the company's stock valued at $121,623,000 after acquiring an additional 23,064 shares during the last quarter. Whale Rock Capital Management LLC boosted its holdings in Klaviyo by 7.4% in the fourth quarter. Whale Rock Capital Management LLC now owns 3,868,451 shares of the company's stock valued at $159,535,000 after acquiring an additional 267,845 shares during the last quarter. 1832 Asset Management L.P. boosted its holdings in Klaviyo by 38.7% in the first quarter. 1832 Asset Management L.P. now owns 2,248,800 shares of the company's stock valued at $68,049,000 after acquiring an additional 627,500 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its holdings in Klaviyo by 0.9% in the fourth quarter. Clearbridge Investments LLC now owns 2,168,336 shares of the company's stock valued at $89,422,000 after acquiring an additional 19,567 shares during the last quarter. Institutional investors and hedge funds own 45.43% of the company's stock.

Klaviyo Trading Up 3.2%

KVYO traded up $1.06 during trading hours on Wednesday, hitting $33.91. 941,983 shares of the company's stock were exchanged, compared to its average volume of 1,555,633. Klaviyo has a 12-month low of $22.12 and a 12-month high of $49.55. The firm has a 50 day moving average of $33.51 and a 200 day moving average of $36.25. The firm has a market cap of $10.07 billion, a P/E ratio of -188.38 and a beta of 1.37.

Klaviyo (NYSE:KVYO - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.14 EPS for the quarter, beating analysts' consensus estimates of $0.12 by $0.02. Klaviyo had a positive return on equity of 0.74% and a negative net margin of 4.70%. The business had revenue of $279.83 million for the quarter, compared to the consensus estimate of $267.79 million. During the same quarter in the prior year, the business posted $0.13 EPS. The business's revenue for the quarter was up 33.3% on a year-over-year basis. As a group, research analysts expect that Klaviyo will post 0.04 EPS for the current fiscal year.

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.