Piper Sandler Issues Positive Forecast for Klaviyo (NYSE:KVYO) Stock Price

Klaviyo (NYSE:KVYO - Free Report) had its target price increased by Piper Sandler from $35.00 to $40.00 in a research note issued to investors on Wednesday morning, Marketbeat.com reports. They currently have an overweight rating on the stock.

Several other equities analysts also recently commented on KVYO. William Blair reiterated an "outperform" rating on shares of Klaviyo in a research note on Thursday, February 20th. Needham & Company LLC dropped their price objective on Klaviyo from $56.00 to $45.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Citigroup upped their price objective on Klaviyo from $39.00 to $48.00 and gave the company a "neutral" rating in a research note on Tuesday, February 11th. Scotiabank dropped their price objective on Klaviyo from $45.00 to $31.00 and set a "sector perform" rating on the stock in a research note on Thursday, April 24th. Finally, Barclays dropped their price objective on Klaviyo from $51.00 to $35.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $43.11.

Klaviyo Price Performance

Shares of NYSE KVYO traded up $2.75 during midday trading on Wednesday, reaching $36.14. The company's stock had a trading volume of 841,917 shares, compared to its average volume of 1,402,421. Klaviyo has a 12-month low of $21.26 and a 12-month high of $49.55. The firm has a 50 day moving average price of $30.54 and a 200-day moving average price of $37.36. The stock has a market capitalization of $9.87 billion, a P/E ratio of -200.83 and a beta of 1.35.

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

Insider Transactions at Klaviyo

In other news, President Stephen Eric Rowland sold 7,060 shares of the company's stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $26.66, for a total value of $188,219.60. Following the transaction, the president now owns 447,310 shares of the company's stock, valued at approximately $11,925,284.60. This represents a 1.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Jeff Fagnan purchased 3,900 shares of the firm's stock in a transaction dated Wednesday, April 9th. The stock was purchased at an average cost of $25.77 per share, for a total transaction of $100,503.00. Following the acquisition, the insider now owns 3,900 shares of the company's stock, valued at approximately $100,503. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 2,073,770 shares of company stock valued at $67,259,606. 49.92% of the stock is currently owned by company insiders.

Institutional Trading of Klaviyo

Several 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 raised its stake in Klaviyo by 227.5% in the first quarter. CWM LLC now owns 930 shares of the company's stock worth $28,000 after buying an additional 646 shares in the last quarter. CIBC Private Wealth Group LLC raised its stake in Klaviyo by 169.5% in the fourth 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 in the last quarter. Tower Research Capital LLC TRC raised its stake in Klaviyo by 77.5% in the fourth 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 in the last quarter. Finally, KBC Group NV bought a new position in Klaviyo in the first quarter worth about $77,000. 45.43% of the stock is currently owned by hedge funds and other 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.