Klaviyo (NYSE:KVYO) Given Buy Rating at Needham & Company LLC

Klaviyo (NYSE:KVYO)‘s stock had its “buy” rating reaffirmed by Needham & Company LLC in a research report issued on Thursday, Benzinga reports. They currently have a $40.00 price objective on the stock. Needham & Company LLC’s price target would suggest a potential upside of 66.11% from the company’s previous close.

KVYO has been the subject of a number of other reports. KeyCorp initiated coverage on Klaviyo in a report on Thursday, March 21st. They set a “sector weight” rating for the company. Morgan Stanley decreased their price objective on Klaviyo from $37.00 to $32.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 17th. William Blair reissued an “outperform” rating on shares of Klaviyo in a report on Wednesday, February 28th. Barclays decreased their target price on Klaviyo from $32.00 to $25.00 and set an “equal weight” rating for the company in a research note on Thursday. Finally, Mizuho lowered their target price on Klaviyo from $40.00 to $35.00 and set a “buy” rating for the company in a report on Thursday. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $35.50.

Klaviyo Stock Up 11.8 %

Shares of NYSE KVYO traded up $2.55 during mid-day trading on Thursday, hitting $24.08. The company had a trading volume of 3,333,709 shares, compared to its average volume of 1,148,416. Klaviyo has a 12 month low of $21.51 and a 12 month high of $39.47. The business’s 50-day simple moving average is $24.40 and its 200-day simple moving average is $26.82.

Klaviyo (NYSE:KVYO) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.03. The business had revenue of $210.00 million during the quarter, compared to analyst estimates of $202.08 million. Klaviyo’s revenue was up 34.5% compared to the same quarter last year. On average, research analysts forecast that Klaviyo will post -0.27 EPS for the current year.

Insider Buying and Selling at Klaviyo

In related news, insider Landon Edmond sold 3,545 shares of the firm’s stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $24.15, for a total transaction of $85,611.75. Following the completion of the transaction, the insider now owns 167,127 shares of the company’s stock, valued at approximately $4,036,117.05. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Salem Investment Counselors Inc. bought a new stake in shares of Klaviyo in the 4th quarter valued at about $25,000. New York State Common Retirement Fund acquired a new position in shares of Klaviyo during the 3rd quarter worth approximately $65,000. Skylands Capital LLC purchased a new stake in Klaviyo in the 3rd quarter worth $172,000. Moody National Bank Trust Division acquired a new position in Klaviyo during the fourth quarter worth $231,000. Finally, Renaissance Capital LLC purchased a new position in Klaviyo during the fourth quarter valued at $341,000. 45.43% of the stock is currently owned by 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.