Piper Sandler Forecasts Strong Price Appreciation for Klaviyo (NYSE:KVYO) Stock

Klaviyo (NYSE:KVYO - Free Report) had its price objective raised by Piper Sandler from $35.00 to $40.00 in a research note published on Wednesday, MarketBeat Ratings reports. Piper Sandler currently has an overweight rating on the stock.

Several other equities research analysts have also commented on the stock. The Goldman Sachs Group boosted their price objective on shares of Klaviyo from $45.00 to $51.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. Canaccord Genuity Group upped their price target on Klaviyo from $40.00 to $50.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. William Blair reiterated an "outperform" rating on shares of Klaviyo in a research note on Thursday, February 20th. Truist Financial cut their target price on Klaviyo from $55.00 to $40.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Finally, Needham & Company LLC lowered their price target on Klaviyo from $56.00 to $45.00 and set a "buy" rating for the company in a research report on Wednesday. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $43.11.

Klaviyo Trading Up 0.4 %

Shares of KVYO stock traded up $0.14 during midday trading on Wednesday, reaching $33.38. 1,937,400 shares of the stock were exchanged, compared to its average volume of 1,408,102. Klaviyo has a 1 year low of $21.26 and a 1 year high of $49.55. The firm has a market cap of $9.12 billion, a PE ratio of -185.44 and a beta of 1.35. The company's 50 day moving average is $30.54 and its two-hundred day moving average is $37.38.

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

Insider Transactions at Klaviyo

In other Klaviyo news, major shareholder Summit Partners L. P sold 2,000,000 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $32.44, for a total value of $64,880,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, President Stephen Eric Rowland sold 7,060 shares of the business's stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $26.66, for a total transaction of $188,219.60. Following the sale, the president now directly owns 447,310 shares of the company's stock, valued at approximately $11,925,284.60. The trade was a 1.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,073,770 shares of company stock worth $67,259,606 in the last ninety days. Insiders own 49.92% of the company's stock.

Institutional Trading of Klaviyo

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in shares of Klaviyo by 9.7% during the 1st quarter. Vanguard Group Inc. now owns 8,467,933 shares of the company's stock valued at $256,240,000 after buying an additional 746,078 shares in the last quarter. Encompass More Asset Management purchased a new position in Klaviyo during the first quarter valued at approximately $549,000. Blair William & Co. IL lifted its holdings in Klaviyo by 12.1% during the first quarter. Blair William & Co. IL now owns 231,153 shares of the company's stock valued at $6,995,000 after purchasing an additional 24,929 shares in the last quarter. Jefferies Financial Group Inc. bought a new position in shares of Klaviyo in the first quarter worth approximately $1,858,000. Finally, Alberta Investment Management Corp purchased a new stake in shares of Klaviyo in the first quarter worth $1,065,000. Institutional investors 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.