Klaviyo (NYSE:KVYO) Stock Rating Upgraded by Wall Street Zen

Key Points

• Klaviyo's stock has been upgraded from a "hold" rating to a "buy" rating by Wall Street Zen, signaling increased investor confidence.
• The company reported $293.12 million in revenue for its recent quarter, exceeding analyst expectations and showing a year-over-year growth of 31.9%.
• Klaviyo's average price target by analysts is currently set at $43.65, with a consensus rating of "Moderate Buy" based on the assessments of various analysts.

Klaviyo (NYSE:KVYO - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report released on Saturday.

A number of other research analysts also recently commented on KVYO. The Goldman Sachs Group reduced their target price on Klaviyo from $51.00 to $44.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Stifel Nicolaus cut their price target on Klaviyo from $45.00 to $40.00 and set a "buy" rating on the stock in a report on Tuesday, July 15th. Needham & Company LLC cut their price target on Klaviyo from $56.00 to $45.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Scotiabank set a $35.00 price target on Klaviyo and gave the stock a "sector perform" rating in a report on Wednesday, May 7th. Finally, Cantor Fitzgerald raised Klaviyo to an "overweight" rating and set a $48.00 price target on the stock in a report on Tuesday, June 3rd. Three investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $43.65.

Klaviyo Stock Performance

Shares of KVYO stock traded up $0.14 during trading hours on Friday, reaching $30.21. The company had a trading volume of 1,846,286 shares, compared to its average volume of 1,868,130. Klaviyo has a twelve month low of $23.77 and a twelve month high of $49.55. The company has a market capitalization of $8.97 billion, a P/E ratio of -120.84 and a beta of 1.36. The stock's fifty day simple moving average is $32.98 and its 200 day simple moving average is $34.51.

Klaviyo (NYSE:KVYO - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.16 earnings per share for the quarter, beating 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 firm had revenue of $293.12 million during the quarter, compared to analyst estimates of $275.97 million. During the same quarter last year, the firm earned $0.15 EPS. Klaviyo's quarterly revenue was up 31.9% on a year-over-year basis. As a group, equities analysts expect that Klaviyo will post 0.04 earnings per share for the current year.

Insider Buying and Selling at Klaviyo

In related news, CFO Amanda Whalen sold 15,000 shares of the business's stock in a transaction dated Friday, July 11th. The stock was sold at an average price of $31.66, for a total transaction of $474,900.00. Following the completion of the transaction, the chief financial officer 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Summit Partners L. P sold 4,000,000 shares of the business's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $33.35, for a total value of $133,400,000.00. The disclosure for this sale can be found here. Insiders have sold 8,094,418 shares of company stock worth $268,580,202 in the last ninety days. 53.24% of the stock is owned by insiders.

Hedge Funds Weigh In On Klaviyo

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. TFC Financial Management Inc. bought a new stake in shares of Klaviyo in the 1st quarter valued at approximately $27,000. CWM LLC grew its stake in shares of Klaviyo by 227.5% in the 1st quarter. CWM LLC now owns 930 shares of the company's stock valued at $28,000 after purchasing an additional 646 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of Klaviyo in the 2nd quarter valued at approximately $31,000. First Horizon Advisors Inc. bought a new stake in shares of Klaviyo in the 2nd quarter valued at approximately $37,000. Finally, State of Wyoming bought a new stake in shares of Klaviyo in the 1st quarter valued at approximately $42,000. 45.43% of the stock is currently 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.