Free Trial

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

Klaviyo logo with Computer and Technology background

Key Points

  • TD Cowen has raised its price target for Klaviyo (NYSE:KVYO) from $45.00 to $46.00, indicating a potential upside of 29.32% from the stock's previous close.
  • Despite the positive outlook from TD Cowen, other analysts have lowered their targets, with Robert W. Baird reducing theirs from $54.00 to $37.00 and Goldman Sachs lowering theirs from $51.00 to $44.00.
  • Klaviyo reported earnings of $0.16 per share for the latest quarter, outperforming analysts' estimates and achieving a revenue increase of 31.9% year-over-year, totaling $293.12 million.
  • Looking to Export and Analyze Klaviyo Data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Klaviyo (NYSE:KVYO - Get Free Report) had its target price upped by research analysts at TD Cowen from $45.00 to $46.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the stock. TD Cowen's target price suggests a potential upside of 29.32% from the stock's previous close.

A number of other equities research analysts have also issued reports on the stock. Robert W. Baird decreased their target price on shares of Klaviyo from $54.00 to $37.00 and set an "outperform" rating for the company in a research note on Wednesday, April 23rd. The Goldman Sachs Group dropped their target price on shares of Klaviyo from $51.00 to $44.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Needham & Company LLC decreased their target price on shares of Klaviyo from $56.00 to $45.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Benchmark boosted their price target on shares of Klaviyo from $44.00 to $46.00 and gave the company a "buy" rating in a research report on Wednesday. Finally, Macquarie restated a "neutral" rating and issued a $37.00 price target on shares of Klaviyo in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $43.55.

Get Our Latest Analysis on Klaviyo

Klaviyo Stock Performance

Shares of NYSE:KVYO traded up $4.87 during trading hours on Wednesday, hitting $35.57. The stock had a trading volume of 4,171,333 shares, compared to its average volume of 1,825,278. The stock's fifty day simple moving average is $33.05 and its 200 day simple moving average is $34.83. Klaviyo has a 1-year low of $22.80 and a 1-year high of $49.55. The firm has a market capitalization of $10.56 billion, a price-to-earnings ratio of -197.66 and a beta of 1.36.

Klaviyo (NYSE:KVYO - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $0.16 earnings per share for the quarter, topping analysts' consensus estimates of $0.13 by $0.03. Klaviyo had a negative net margin of 4.70% and a positive return on equity of 0.74%. The firm had revenue of $293.12 million during the quarter, compared to analysts' expectations of $275.97 million. During the same period last year, the firm posted $0.15 earnings per share. The firm's revenue for the quarter was up 31.9% compared to the same quarter last year. As a group, research analysts anticipate that Klaviyo will post 0.04 EPS for the current year.

Insider Buying and Selling at Klaviyo

In other Klaviyo news, major shareholder Summit Partners L. P sold 4,000,000 shares of the company's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $33.35, for a total transaction of $133,400,000.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Landon Edmond sold 9,965 shares of the stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $34.85, for a total transaction 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 ownership of the stock. 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 three months. 53.24% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Klaviyo

A number of large investors have recently bought and sold shares of KVYO. CIBC Private Wealth Group LLC boosted its stake in shares of Klaviyo by 169.5% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,752 shares of the company's stock valued at $72,000 after purchasing an additional 1,102 shares in the last quarter. Geode Capital Management LLC raised its holdings in Klaviyo by 12.2% in the 4th quarter. Geode Capital Management LLC now owns 882,460 shares of the company's stock valued at $36,409,000 after buying an additional 96,274 shares during the last quarter. Wells Fargo & Company MN raised its holdings in Klaviyo by 45.2% in the 4th quarter. Wells Fargo & Company MN now owns 6,171 shares of the company's stock valued at $254,000 after buying an additional 1,920 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in shares of Klaviyo in the 4th quarter worth approximately $686,000. Finally, Barclays PLC lifted its position in shares of Klaviyo by 128.2% in the 4th quarter. Barclays PLC now owns 29,263 shares of the company's stock worth $1,207,000 after purchasing an additional 16,438 shares during the period. 45.43% of the stock is currently owned by institutional investors and hedge funds.

About Klaviyo

(Get Free Report)

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.

See Also

Analyst Recommendations for Klaviyo (NYSE:KVYO)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

Should You Invest $1,000 in Klaviyo Right Now?

Before you consider Klaviyo, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Klaviyo wasn't on the list.

While Klaviyo currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

7 Stocks That Could Be Bigger Than Tesla, Nvidia, and Google Cover

Looking for the next FAANG stock before everyone has heard about it? Enter your email address to see which stocks MarketBeat analysts think might become the next trillion dollar tech company.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

3 Overlooked AI Stocks That Chipmakers Can’t Live Without
Palantir & AMD Earnings: Massive Options Setups Ahead
3 Value Plays Set to Explode

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines