Klaviyo (NYSE:KVYO) Given New $45.00 Price Target at Needham & Company LLC

Klaviyo (NYSE:KVYO - Free Report) had its target price lowered by Needham & Company LLC from $56.00 to $45.00 in a research note issued to investors on Wednesday morning, Marketbeat reports. Needham & Company LLC currently has a buy rating on the stock.

Several other brokerages also recently issued reports on KVYO. Scotiabank lowered their price objective on shares of Klaviyo from $45.00 to $31.00 and set a "sector perform" rating on the stock in a research report on Thursday, April 24th. Citigroup raised their price objective on shares of Klaviyo from $39.00 to $48.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 11th. Robert W. Baird lowered their price objective on shares of Klaviyo from $54.00 to $37.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. Wells Fargo & Company raised their price objective on shares of Klaviyo from $26.00 to $32.00 and gave the stock an "equal weight" rating in a research report on Monday, May 5th. Finally, Stifel Nicolaus lifted their target price on shares of Klaviyo from $45.00 to $54.00 and gave the company a "buy" rating in a report on Thursday, February 20th. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $43.11.

Klaviyo Trading Up 8.2%

Shares of NYSE KVYO traded up $2.75 during mid-day trading on Wednesday, reaching $36.14. The company had a trading volume of 841,917 shares, compared to its average volume of 1,402,421. The firm has a 50 day simple moving average of $30.54 and a two-hundred day simple moving average of $37.36. The stock has a market cap of $9.87 billion, a P/E ratio of -200.83 and a beta of 1.35. Klaviyo has a 52-week low of $21.26 and a 52-week high of $49.55.

Klaviyo (NYSE:KVYO - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.02. Klaviyo had a negative net margin of 4.92% and a positive return on equity of 0.89%. The company had revenue of $279.83 million for the quarter, compared to the consensus estimate of $267.79 million. During the same period last year, the firm posted $0.13 EPS. Klaviyo's revenue for the quarter was up 33.3% on a year-over-year basis. On average, equities analysts expect that Klaviyo will post 0.04 EPS for the current year.

Insider Activity at Klaviyo

In other Klaviyo news, President Stephen Eric Rowland sold 36,710 shares of Klaviyo stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $35.08, for a total transaction of $1,287,786.80. Following the completion of the transaction, the president now owns 246,254 shares in the company, valued at approximately $8,638,590.32. The trade was a 12.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Jeff Fagnan bought 3,900 shares of the business's stock in a transaction on Wednesday, April 9th. The shares were acquired at an average price of $25.77 per share, with a total value of $100,503.00. Following the transaction, the insider now owns 3,900 shares of the company's stock, valued at $100,503. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders sold 2,073,770 shares of company stock worth $67,259,606 over the last 90 days. Company insiders own 49.92% of the company's stock.

Hedge Funds Weigh In On Klaviyo

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. TFC Financial Management Inc. purchased a new stake in shares of Klaviyo during the first quarter worth about $27,000. CWM LLC boosted its stake in Klaviyo by 227.5% in the 1st quarter. CWM LLC now owns 930 shares of the company's stock worth $28,000 after buying an additional 646 shares during the last quarter. CIBC Private Wealth Group LLC boosted its stake in Klaviyo by 169.5% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,752 shares of the company's stock worth $72,000 after buying an additional 1,102 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in Klaviyo by 77.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,874 shares of the company's stock worth $77,000 after buying an additional 818 shares during the last quarter. Finally, KBC Group NV acquired a new stake in Klaviyo in the 1st quarter worth about $77,000. Institutional investors and hedge funds own 45.43% of the company's stock.

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.