Klaviyo (NYSE:KVYO) Given New $31.00 Price Target at Scotiabank

Klaviyo (NYSE:KVYO) had its price objective lowered by Scotiabank from $45.00 to $31.00 in a report published on Thursday,Benzinga reports. The firm currently has a sector perform rating on the stock.

A number of other analysts have also weighed in on the stock. Cantor Fitzgerald raised their price target on shares of Klaviyo from $47.00 to $54.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Stephens initiated coverage on Klaviyo in a research note on Wednesday, March 19th. They issued an “overweight” rating and a $43.00 target price for the company. William Blair reiterated an “outperform” rating on shares of Klaviyo in a report on Thursday, February 20th. Barclays dropped their price objective on Klaviyo from $51.00 to $35.00 and set an “overweight” rating for the company in a report on Monday. Finally, Robert W. Baird dropped their price target on shares of Klaviyo from $54.00 to $37.00 and set an “outperform” rating for the company in a research note on Wednesday. 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 presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.47.

Klaviyo Stock Performance

Klaviyo stock opened at $28.95 on Thursday. The business’s fifty day moving average is $32.73 and its two-hundred day moving average is $37.78. The firm has a market cap of $7.91 billion, a P/E ratio of -160.83 and a beta of 1.39. Klaviyo has a 52 week low of $21.26 and a 52 week high of $49.55.

Klaviyo (NYSE:KVYO) last issued its quarterly earnings results on Wednesday, February 19th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.12). The company had revenue of $270.16 million for the quarter, compared to analyst estimates of $257.24 million. Klaviyo had a positive return on equity of 0.89% and a negative net margin of 4.92%. On average, equities research analysts predict that Klaviyo will post 0.04 earnings per share for the current year.

Insiders Place Their Bets

In other news, major shareholder Jeff Fagnan purchased 3,900 shares of the company’s stock in a transaction on Wednesday, April 9th. The shares were purchased at an average price of $25.77 per share, with a total value of $100,503.00. Following the purchase, the insider now directly owns 3,900 shares of the company’s stock, valued at $100,503. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Amanda Whalen sold 15,000 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $45.85, for a total value of $687,750.00. Following the transaction, the chief financial officer now directly owns 376,820 shares of the company’s stock, valued at $17,277,197. This represents a 3.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,088,770 shares of company stock worth $67,947,356. Company insiders own 53.24% of the company’s stock.

Hedge Funds Weigh In On Klaviyo

A number of large investors have recently bought and sold shares of the company. TFC Financial Management Inc. acquired a new stake in shares of Klaviyo in the first quarter valued at approximately $27,000. CIBC Private Wealth Group LLC increased 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 valued at $72,000 after buying an additional 1,102 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in Klaviyo by 77.5% during 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 in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Klaviyo during the 4th quarter worth about $196,000. Finally, US Bancorp DE bought a new position in shares of Klaviyo in the 4th quarter valued at about $199,000. 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.