Klaviyo (NYSE:KVYO) Receives Buy Rating from Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Klaviyo (NYSE:KVYO - Free Report) in a report released on Thursday morning, Benzinga reports. They currently have a $40.00 price objective on the stock.

Other research analysts also recently issued research reports about the company. Barclays dropped their price target on Klaviyo from $32.00 to $25.00 and set an equal weight rating for the company in a research note on Thursday. Scotiabank started coverage on shares of Klaviyo in a research report on Tuesday, April 2nd. They set a sector perform rating and a $30.00 price target on the stock. Cantor Fitzgerald restated an overweight rating and set a $31.00 price objective on shares of Klaviyo in a research report on Thursday. KeyCorp began coverage on Klaviyo in a report on Thursday, March 21st. They issued a sector weight rating on the stock. Finally, Piper Sandler reissued an overweight rating and set a $38.00 price target on shares of Klaviyo in a report on Wednesday, February 28th. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $35.50.

Klaviyo Stock Performance

Shares of NYSE:KVYO traded up $2.44 on Thursday, reaching $23.97. 3,336,133 shares of the company's stock were exchanged, compared to its average volume of 1,151,496. Klaviyo has a twelve month low of $21.51 and a twelve month high of $39.47. The company has a fifty day moving average of $24.40 and a 200-day moving average of $26.82.

Klaviyo (NYSE:KVYO - Get Free Report) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.10 by $0.03. The company had revenue of $210.00 million for the quarter, compared to analyst estimates of $202.08 million. Klaviyo's quarterly revenue was up 34.5% compared to the same quarter last year. Equities research analysts predict that Klaviyo will post -0.27 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Landon Edmond sold 3,545 shares of the business's stock in a transaction on Friday, April 5th. The shares were sold at an average price of $24.15, for a total value of $85,611.75. Following the sale, the insider now owns 167,127 shares of the company's stock, valued at $4,036,117.05. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Hedge Funds Weigh In On Klaviyo

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Salem Investment Counselors Inc. bought a new position in Klaviyo during the 4th quarter worth approximately $25,000. New York State Common Retirement Fund acquired a new stake in shares of Klaviyo during the third quarter worth $65,000. Skylands Capital LLC bought a new position in Klaviyo during the third quarter worth $172,000. Moody National Bank Trust Division lifted its holdings in Klaviyo by 87.9% in the first quarter. Moody National Bank Trust Division now owns 15,639 shares of the company's stock valued at $398,000 after buying an additional 7,316 shares during the period. Finally, Alberta Investment Management Corp bought a new stake in Klaviyo during the third quarter valued at $391,000. 45.43% of the stock is owned by institutional investors and hedge funds.

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.