Klaviyo (NYSE:KVYO) Rating Lowered to "Hold" at Wall Street Zen

Key Points

• Klaviyo was downgraded from a "buy" rating to a "hold" rating by Wall Street Zen, indicating a decrease in confidence among analysts.
• Despite the downgrade, Klaviyo's stock has received a majority of "buy" ratings overall, with a consensus rating of "Moderate Buy" and an average target price of $43.65.
• The company reported earnings per share of $0.16 for the recent quarter, exceeding analysts' expectations while experiencing strong year-over-year revenue growth of 31.9%.

Klaviyo (NYSE:KVYO - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a note issued to investors on Sunday.

Other analysts have also recently issued research reports about the company. Piper Sandler boosted their target price on Klaviyo from $40.00 to $55.00 and gave the stock an "overweight" rating in a report on Wednesday, August 6th. Stifel Nicolaus decreased their price target on Klaviyo from $45.00 to $40.00 and set a "buy" rating for the company in a report on Tuesday, July 15th. Cantor Fitzgerald upgraded Klaviyo to an "overweight" rating and set a $48.00 price target for the company in a report on Tuesday, June 3rd. Macquarie restated a "neutral" rating and issued a $37.00 price target on shares of Klaviyo in a report on Wednesday, August 6th. Finally, Robert W. Baird decreased their price target on Klaviyo from $54.00 to $37.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eighteen have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $43.65.

Klaviyo Price Performance

KVYO opened at $31.51 on Friday. Klaviyo has a 12 month low of $23.77 and a 12 month high of $49.55. The stock has a market capitalization of $9.36 billion, a price-to-earnings ratio of -126.04 and a beta of 1.36. The business has a 50-day moving average of $32.73 and a two-hundred day moving average of $34.20.

Klaviyo (NYSE:KVYO - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 business had revenue of $293.12 million during the quarter, compared to analysts' expectations of $275.97 million. During the same quarter in the previous year, the business earned $0.15 EPS. The company's revenue for the quarter was up 31.9% on a year-over-year basis. Equities research analysts anticipate that Klaviyo will post 0.04 earnings per share for the current year.

Insider Buying and Selling

In other Klaviyo news, major shareholder Summit Partners L. P sold 4,000,000 shares of the stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $33.35, for a total value of $133,400,000.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, President Stephen Eric Rowland sold 7,079 shares of the firm's stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $31.56, for a total value of $223,413.24. Following the completion of the sale, the president owned 435,845 shares in the company, valued at $13,755,268.20. The trade was a 1.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,044,158 shares of company stock worth $266,823,776 over the last ninety days. 49.92% of the stock is owned by insiders.

Institutional Investors Weigh In On Klaviyo

A number of hedge funds have recently added to or reduced their stakes in KVYO. Wells Fargo & Company MN lifted its stake in Klaviyo by 45.2% in the fourth 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 during the fourth quarter valued at $686,000. Barclays PLC increased its holdings in shares of Klaviyo by 128.2% during the fourth quarter. Barclays PLC now owns 29,263 shares of the company's stock valued at $1,207,000 after purchasing an additional 16,438 shares during the period. PEAK6 LLC acquired a new position in shares of Klaviyo during the fourth quarter valued at $1,281,000. Finally, First Trust Advisors LP increased its holdings in shares of Klaviyo by 26.4% during the fourth quarter. First Trust Advisors LP now owns 945,663 shares of the company's stock valued at $38,999,000 after purchasing an additional 197,283 shares during the period. 45.43% of the stock is currently owned by institutional investors.

About Klaviyo

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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