Macquarie Lowers Klaviyo (NYSE:KVYO) Price Target to $30.00

Klaviyo (NYSE:KVYO) had its price objective dropped by equities research analysts at Macquarie from $37.00 to $30.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Macquarie’s target price suggests a potential upside of 2.31% from the stock’s previous close.

KVYO has been the subject of several other reports. Wells Fargo & Company began coverage on Klaviyo in a report on Tuesday, September 30th. They set an “overweight” rating and a $40.00 price objective for the company. Piper Sandler reaffirmed an “overweight” rating and set a $45.00 price target (down previously from $50.00) on shares of Klaviyo in a research report on Thursday, November 6th. Stifel Nicolaus cut their price target on Klaviyo from $42.00 to $40.00 and set a “buy” rating for the company in a research note on Thursday, November 6th. Robert W. Baird boosted their price objective on Klaviyo from $39.00 to $40.00 and gave the company an “outperform” rating in a research note on Thursday, November 6th. Finally, KeyCorp dropped their price objective on shares of Klaviyo from $50.00 to $45.00 and set an “overweight” rating on the stock in a report on Thursday, November 6th. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $42.67.

Klaviyo Stock Performance

NYSE KVYO opened at $29.32 on Tuesday. The company has a market capitalization of $8.80 billion, a PE ratio of -122.18 and a beta of 1.26. Klaviyo has a 52-week low of $23.44 and a 52-week high of $49.55. The company has a 50-day simple moving average of $28.60 and a 200 day simple moving average of $31.37.

Klaviyo (NYSE:KVYO) last released its earnings results on Thursday, September 25th. The company reported $0.16 earnings per share for the quarter. Klaviyo had a negative net margin of 5.70% and a negative return on equity of 1.00%. The firm had revenue of $293.12 million for the quarter. As a group, analysts forecast that Klaviyo will post 0.04 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Ed Hallen sold 89,748 shares of the stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $31.71, for a total value of $2,845,909.08. Following the sale, the director directly owned 177,776 shares of the company’s stock, valued at approximately $5,637,276.96. This represents a 33.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Summit Partners L. P sold 4,000,000 shares of the firm’s stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $31.87, for a total transaction of $127,480,000.00. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 5,804,084 shares of company stock worth $182,590,757 in the last quarter. 49.92% of the stock is owned by company insiders.

Institutional Trading of Klaviyo

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Klaviyo by 19.2% in the 3rd quarter. Vanguard Group Inc. now owns 12,787,728 shares of the company’s stock valued at $354,092,000 after purchasing an additional 2,059,550 shares during the period. Alliancebernstein L.P. raised its position in shares of Klaviyo by 10.1% in the second quarter. Alliancebernstein L.P. now owns 4,424,249 shares of the company’s stock worth $148,566,000 after buying an additional 404,969 shares in the last quarter. Sands Capital Alternatives LLC boosted its stake in Klaviyo by 2.1% during the second quarter. Sands Capital Alternatives LLC now owns 3,515,065 shares of the company’s stock valued at $118,036,000 after buying an additional 71,550 shares during the period. Federated Hermes Inc. boosted its stake in Klaviyo by 9.0% during the second quarter. Federated Hermes Inc. now owns 2,911,007 shares of the company’s stock valued at $97,752,000 after buying an additional 241,207 shares during the period. Finally, American Century Companies Inc. grew its position in Klaviyo by 123.4% during the second quarter. American Century Companies Inc. now owns 2,685,480 shares of the company’s stock worth $90,178,000 after buying an additional 1,483,427 shares in the last quarter. 45.43% of the stock is currently owned by hedge funds and other institutional investors.

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.