Klaviyo (NYSE:KVYO) Upgraded by Cantor Fitzgerald to "Overweight" Rating

Klaviyo (NYSE:KVYO - Get Free Report) was upgraded by equities researchers at Cantor Fitzgerald to an "overweight" rating in a report released on Tuesday, MarketBeat.com reports. The firm presently has a $48.00 price target on the stock. Cantor Fitzgerald's target price points to a potential upside of 38.33% from the stock's current price.

KVYO has been the subject of a number of other research reports. Canaccord Genuity Group lifted their target price on Klaviyo from $40.00 to $50.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. Scotiabank set a $35.00 price objective on shares of Klaviyo and gave the stock a "sector perform" rating in a research note on Wednesday, May 7th. Wells Fargo & Company boosted their price objective on shares of Klaviyo from $26.00 to $32.00 and gave the company an "equal weight" rating in a research report on Monday, May 5th. Truist Financial lowered their target price on shares of Klaviyo from $55.00 to $40.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Finally, Needham & Company LLC cut their price target on shares of Klaviyo from $56.00 to $45.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $42.79.

Klaviyo Stock Up 2.1%

Klaviyo stock traded up $0.73 during mid-day trading on Tuesday, reaching $34.70. 2,713,365 shares of the company's stock traded hands, compared to its average volume of 1,512,710. Klaviyo has a 12-month low of $21.26 and a 12-month high of $49.55. The stock has a 50 day moving average of $30.68 and a two-hundred day moving average of $36.98. The company has a market cap of $10.31 billion, a price-to-earnings ratio of -192.78 and a beta of 1.35.

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 firm had revenue of $279.83 million for the quarter, compared to analysts' expectations of $267.79 million. Klaviyo had a negative net margin of 4.92% and a positive return on equity of 0.89%. The business's revenue was up 33.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.13 EPS. As a group, sell-side analysts forecast that Klaviyo will post 0.04 earnings per share for the current year.

Insider Transactions at Klaviyo

In other Klaviyo news, President Stephen Eric Rowland sold 36,710 shares of the business's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $35.08, for a total value of $1,287,786.80. Following the completion of the transaction, the president now directly owns 246,254 shares in the company, valued at approximately $8,638,590.32. The trade was a 12.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Summit Partners L. P sold 4,000,000 shares of Klaviyo stock in a transaction on Monday, May 19th. The stock was sold at an average price of $33.00, for a total transaction of $132,000,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,124,030 shares of company stock valued at $201,016,032. 49.92% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Klaviyo

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

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.