Brokerages Set Klaviyo, Inc. (NYSE:KVYO) Target Price at $43.21

Shares of Klaviyo, Inc. (NYSE:KVYO) have been assigned a consensus recommendation of “Moderate Buy” from the twenty analysts that are presently covering the company, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation and sixteen have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $43.21.

A number of equities analysts recently issued reports on KVYO shares. Benchmark raised their target price on Klaviyo from $43.00 to $44.00 and gave the stock a “buy” rating in a research note on Wednesday, May 7th. Needham & Company LLC cut their price target on Klaviyo from $56.00 to $45.00 and set a “buy” rating on the stock in a research report on Wednesday, May 7th. Mizuho cut their price target on Klaviyo from $52.00 to $40.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 15th. Piper Sandler increased their price target on Klaviyo from $35.00 to $40.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 7th. Finally, Scotiabank set a $35.00 price target on Klaviyo and gave the stock a “sector perform” rating in a research report on Wednesday, May 7th.

Insider Activity

In other news, major shareholder Summit Partners L. P sold 4,000,000 shares of Klaviyo stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $33.35, for a total transaction of $133,400,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Stephen Eric Rowland sold 7,079 shares of the business’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $34.86, for a total value of $246,773.94. Following the completion of the sale, the president directly owned 450,003 shares in the company, valued at approximately $15,687,104.58. The trade was a 1.55% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 8,087,320 shares of company stock worth $268,247,195. 53.24% of the stock is owned by company insiders.

Institutional Trading of Klaviyo

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Klaviyo by 9.7% during the first quarter. Vanguard Group Inc. now owns 8,467,933 shares of the company’s stock worth $256,240,000 after acquiring an additional 746,078 shares during the period. Alliancebernstein L.P. increased its position in shares of Klaviyo by 0.6% during the first quarter. Alliancebernstein L.P. now owns 4,019,280 shares of the company’s stock worth $121,623,000 after acquiring an additional 23,064 shares during the period. Whale Rock Capital Management LLC increased its position in shares of Klaviyo by 7.4% during the fourth quarter. Whale Rock Capital Management LLC now owns 3,868,451 shares of the company’s stock worth $159,535,000 after acquiring an additional 267,845 shares during the period. 1832 Asset Management L.P. increased its position in shares of Klaviyo by 38.7% during the first quarter. 1832 Asset Management L.P. now owns 2,248,800 shares of the company’s stock worth $68,049,000 after acquiring an additional 627,500 shares during the period. Finally, Clearbridge Investments LLC increased its position in shares of Klaviyo by 0.9% during the fourth quarter. Clearbridge Investments LLC now owns 2,168,336 shares of the company’s stock worth $89,422,000 after acquiring an additional 19,567 shares during the period. Hedge funds and other institutional investors own 45.43% of the company’s stock.

Klaviyo Trading Up 0.5%

Shares of KVYO opened at $34.02 on Wednesday. Klaviyo has a 12 month low of $22.12 and a 12 month high of $49.55. The stock has a fifty day moving average price of $33.66 and a 200-day moving average price of $36.12. The firm has a market cap of $10.10 billion, a PE ratio of -188.99 and a beta of 1.37.

Klaviyo (NYSE:KVYO) last issued 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. The firm had revenue of $279.83 million during the quarter, compared to analyst estimates of $267.79 million. Klaviyo had a positive return on equity of 0.74% and a negative net margin of 4.70%. The business’s revenue for the quarter was up 33.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.13 EPS. As a group, research analysts forecast that Klaviyo will post 0.04 EPS for the current year.

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.