Klaviyo (NYSE:KVYO) Price Target Raised to $46.00

Key Points

• Klaviyo's stock price target has been raised by Benchmark from $44 to $46, indicating a potential upside of approximately 30.71% from its previous close.
• Several brokerages have issued positive ratings for Klaviyo, including Cantor Fitzgerald's "overweight" rating with a $48 target and Piper Sandler's upgrade to a $40 target.
• Klaviyo reported quarterly earnings of $0.16 EPS, exceeding analyst expectations and showing a year-over-year revenue increase of 31.9% to $293.12 million.

Klaviyo (NYSE:KVYO - Get Free Report) had its target price hoisted by equities research analysts at Benchmark from $44.00 to $46.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the stock. Benchmark's price target points to a potential upside of 42.19% from the stock's previous close.

Several other equities analysts also recently weighed in on KVYO. Morgan Stanley lowered their target price on Klaviyo from $50.00 to $34.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Cantor Fitzgerald upgraded Klaviyo to an "overweight" rating and set a $48.00 target price on the stock in a research report on Tuesday, June 3rd. Wells Fargo & Company upgraded Klaviyo from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $32.00 to $40.00 in a research report on Friday, June 13th. Stifel Nicolaus lowered their target price on Klaviyo from $45.00 to $40.00 and set a "buy" rating on the stock in a research report on Tuesday, July 15th. Finally, Scotiabank set a $35.00 target price on Klaviyo and gave the company a "sector perform" rating in a research report on Wednesday, May 7th. Three equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, Klaviyo has an average rating of "Moderate Buy" and an average target price of $43.65.

Klaviyo Stock Performance

Shares of KVYO traded down $1.68 during trading hours on Wednesday, hitting $32.35. The stock had a trading volume of 1,969,369 shares, compared to its average volume of 1,866,426. Klaviyo has a 12 month low of $23.77 and a 12 month high of $49.55. The stock has a fifty day moving average price of $33.05 and a 200 day moving average price of $34.72.

Klaviyo (NYSE:KVYO - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.13 by $0.03. Klaviyo had a negative return on equity of 1.12% and a negative net margin of 6.19%. The company had revenue of $293.12 million during the quarter, compared to analyst estimates of $275.97 million. During the same quarter in the previous year, the company posted $0.15 earnings per share. Klaviyo's revenue was up 31.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Klaviyo will post 0.04 EPS for the current year.

Insider Transactions at Klaviyo

In other news, CFO Amanda Whalen sold 15,000 shares of Klaviyo stock in a transaction dated Friday, July 11th. The stock was sold at an average price of $31.66, for a total value of $474,900.00. Following the sale, the chief financial officer directly owned 517,831 shares of the company's stock, valued at approximately $16,394,529.46. The trade was a 2.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Stephen Eric Rowland sold 7,079 shares of Klaviyo stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $31.56, for a total value of $223,413.24. Following the completion of the sale, the president directly owned 435,845 shares in the company, valued at $13,755,268.20. This trade represents a 1.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,094,418 shares of company stock valued at $268,580,202. 49.92% of the stock is owned by insiders.

Institutional Investors Weigh In On Klaviyo

Large investors have recently made changes to their positions in the company. Encompass More Asset Management bought a new stake in Klaviyo during the first quarter worth approximately $549,000. WCM Investment Management LLC increased its stake in Klaviyo by 27.7% during the first quarter. WCM Investment Management LLC now owns 390,119 shares of the company's stock worth $12,101,000 after acquiring an additional 84,715 shares during the last quarter. Bank of America Corp DE increased its stake in Klaviyo by 8.4% during the fourth quarter. Bank of America Corp DE now owns 276,697 shares of the company's stock worth $11,411,000 after acquiring an additional 21,425 shares during the last quarter. Whale Rock Capital Management LLC increased its stake in Klaviyo by 7.4% during the fourth quarter. Whale Rock Capital Management LLC now owns 3,868,451 shares of the company's stock worth $159,535,000 after acquiring an additional 267,845 shares during the last quarter. Finally, Stifel Financial Corp bought a new stake in Klaviyo during the fourth quarter worth approximately $364,000. 45.43% of the stock is owned by 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.