Klaviyo (NYSE:KVYO) Price Target Raised to $38.00

Klaviyo (NYSE:KVYO - Free Report) had its price target lifted by Barclays from $35.00 to $38.00 in a research note published on Wednesday,Benzinga reports. The firm currently has an overweight rating on the stock.

KVYO has been the topic of a number of other research reports. Mizuho cut their target price on shares of Klaviyo from $52.00 to $40.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. 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. Morgan Stanley decreased their target price on shares of Klaviyo from $50.00 to $34.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Scotiabank dropped their price target on shares of Klaviyo from $45.00 to $31.00 and set a "sector perform" rating for the company in a research note on Thursday, April 24th. Finally, Citigroup increased their price objective on shares of Klaviyo from $39.00 to $48.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 11th. 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 stock has a consensus rating of "Moderate Buy" and an average price target of $43.11.

Klaviyo Price Performance

Shares of NYSE KVYO traded up $2.75 during mid-day trading on Wednesday, hitting $36.14. The company had a trading volume of 841,917 shares, compared to its average volume of 1,402,437. The company has a market capitalization of $9.87 billion, a PE ratio of -200.83 and a beta of 1.35. Klaviyo has a 1-year low of $21.26 and a 1-year high of $49.55. The business's 50-day simple moving average is $30.54 and its 200 day simple moving average is $37.36.

Klaviyo (NYSE:KVYO - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.14 EPS for the quarter, topping analysts' consensus estimates of $0.12 by $0.02. Klaviyo had a positive return on equity of 0.89% and a negative net margin of 4.92%. The business had revenue of $279.83 million for the quarter, compared to analysts' expectations of $267.79 million. During the same quarter in the previous year, the firm earned $0.13 earnings per share. The business's revenue was up 33.3% compared to the same quarter last year. On average, analysts expect that Klaviyo will post 0.04 EPS for the current year.

Insider Buying and Selling

In related news, President Stephen Eric Rowland sold 7,060 shares of the stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $26.66, for a total transaction of $188,219.60. Following the completion of the sale, the president now owns 447,310 shares in the company, valued at $11,925,284.60. This represents a 1.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Summit Partners L. P sold 2,000,000 shares of the stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $32.44, for a total transaction of $64,880,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,073,770 shares of company stock worth $67,259,606. 49.92% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. TFC Financial Management Inc. bought a new stake in Klaviyo during the first quarter valued at $27,000. CWM LLC lifted its stake in Klaviyo by 227.5% during the first quarter. CWM LLC now owns 930 shares of the company's stock valued at $28,000 after buying an additional 646 shares in the last quarter. CIBC Private Wealth Group LLC lifted its stake in Klaviyo by 169.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,752 shares of the company's stock valued at $72,000 after buying an additional 1,102 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Klaviyo by 77.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,874 shares of the company's stock worth $77,000 after purchasing an additional 818 shares in the last quarter. Finally, KBC Group NV acquired a new position in Klaviyo in the first quarter worth approximately $77,000. 45.43% of the stock is owned by institutional investors and hedge funds.

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.