Klaviyo (NYSE:KVYO) Price Target Raised to $55.00

Key Points

• Investment analysts at Piper Sandler raised Klaviyo's target price from $40.00 to $55.00, indicating a potential upside of 55.37% from its current price and maintaining an "overweight" rating on the stock.
• Other firms, including Barclays and Goldman Sachs, have also revised their price targets, resulting in a consensus rating of "Moderate Buy" with an average price target of $43.42.
• Klaviyo's quarterly earnings report indicated a 31.9% revenue increase year-over-year, with earnings per share surpassing analysts' expectations, reflecting positive growth despite a negative net margin.

Klaviyo (NYSE:KVYO - Get Free Report) had its target price boosted by investment analysts at Piper Sandler from $40.00 to $55.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Piper Sandler's price target indicates a potential upside of 55.37% from the stock's current price.

Other research analysts have also recently issued reports about the stock. Barclays lifted their price objective on shares of Klaviyo from $35.00 to $38.00 and gave the company an "overweight" rating in a research note on Wednesday, May 7th. The Goldman Sachs Group lowered their price target on shares of Klaviyo from $51.00 to $44.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Mizuho lowered their price target on shares of Klaviyo from $52.00 to $40.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Morgan Stanley lowered their price target on shares of Klaviyo from $50.00 to $34.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Finally, Robert W. Baird lowered their price target on shares of Klaviyo from $54.00 to $37.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd. Four equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $43.42.

Klaviyo Price Performance

NYSE:KVYO traded up $4.70 during mid-day trading on Wednesday, reaching $35.40. The stock had a trading volume of 3,828,605 shares, compared to its average volume of 1,822,799. The stock has a 50-day simple moving average of $33.05 and a two-hundred day simple moving average of $34.83. The stock has a market capitalization of $10.51 billion, a PE ratio of -196.66 and a beta of 1.36. Klaviyo has a 12 month low of $22.80 and a 12 month high of $49.55.

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

Insider Activity

In other news, major shareholder Summit Partners L. P sold 4,000,000 shares of Klaviyo 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Carmel Galvin sold 11,156 shares of Klaviyo stock in a transaction on Friday, May 16th. The shares were sold at an average price of $35.01, for a total transaction of $390,571.56. Following the completion of the sale, the insider owned 711,805 shares in the company, valued at approximately $24,920,293.05. This represents a 1.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,094,418 shares of company stock valued at $268,580,202. Company insiders own 53.24% of the company's stock.

Institutional Investors Weigh In On Klaviyo

Several large investors have recently added to or reduced their stakes in the stock. Focus Partners Wealth bought a new position in shares of Klaviyo during the 4th quarter worth approximately $38,870,000. D. E. Shaw & Co. Inc. raised its stake in shares of Klaviyo by 195.4% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,310,227 shares of the company's stock worth $54,034,000 after acquiring an additional 866,749 shares in the last quarter. Lord Abbett & CO. LLC raised its stake in shares of Klaviyo by 105.6% during the 1st quarter. Lord Abbett & CO. LLC now owns 1,538,220 shares of the company's stock worth $46,546,000 after acquiring an additional 790,146 shares in the last quarter. Vanguard Group Inc. grew its position in Klaviyo by 9.7% during the 1st quarter. Vanguard Group Inc. now owns 8,467,933 shares of the company's stock worth $256,240,000 after purchasing an additional 746,078 shares during the period. Finally, Ameriprise Financial Inc. boosted its holdings in Klaviyo by 229.5% during the fourth quarter. Ameriprise Financial Inc. now owns 982,134 shares of the company's stock worth $40,507,000 after buying an additional 684,026 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.

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