Klaviyo (NYSE:KVYO) Stock Price Expected to Rise, Barclays Analyst Says

Klaviyo (NYSE:KVYO) had its price target raised by research analysts at Barclays from $22.00 to $23.00 in a research note issued on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s target price indicates a potential upside of 11.11% from the stock’s previous close.

A number of other research analysts also recently weighed in on the stock. Benchmark downgraded shares of Klaviyo from a “buy” rating to a “hold” rating in a research report on Thursday, August 6th. Wall Street Zen lowered shares of Klaviyo from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Jefferies Financial Group reissued a “buy” rating and set a $21.00 price target on shares of Klaviyo in a report on Thursday, August 6th. Citigroup raised their price target on Klaviyo from $36.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, October 28th. Finally, Piper Sandler cut their price objective on Klaviyo from $26.00 to $23.00 and set an “overweight” rating for the company in a report on Thursday, August 6th. Sixteen equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Klaviyo has an average rating of “Moderate Buy” and a consensus price target of $27.02.

Klaviyo Trading Down 0.5%

Klaviyo stock traded down $0.11 during trading hours on Thursday, hitting $20.70. 3,721,414 shares of the stock traded hands, compared to its average volume of 5,127,137. The company has a market cap of $5.89 billion, a PE ratio of 1,035.57 and a beta of 0.50. The firm’s 50-day moving average price is $18.10 and its two-hundred day moving average price is $17.97. Klaviyo has a one year low of $12.53 and a one year high of $33.35.

Klaviyo (NYSE:KVYO) last posted its quarterly earnings data on Wednesday, November 4th. The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.05. Klaviyo had a return on equity of 5.67% and a net margin of 0.49%. The company had revenue of $387.21 million during the quarter, compared to analyst estimates of $380.02 million. During the same quarter last year, the company earned $0.18 EPS. The firm’s revenue for the quarter was up 24.5% on a year-over-year basis. On average, sell-side analysts expect that Klaviyo will post 0.20 earnings per share for the current fiscal year.

Insider Transactions at Klaviyo

In other news, CFO Amanda Whalen sold 14,000 shares of Klaviyo stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $18.47, for a total transaction of $258,580.00. Following the transaction, the chief financial officer directly owned 824,192 shares of the company’s stock, valued at $15,222,826.24. The trade was a 1.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Susan St. Ledger sold 2,328 shares of the business’s stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $15.93, for a total value of $37,085.04. Following the transaction, the director owned 23,433 shares of the company’s stock, valued at approximately $373,287.69. This trade represents a 9.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 5,275,468 shares of company stock valued at $93,822,653. Company insiders own 37.42% of the company’s stock.

Institutional Investors Weigh In On Klaviyo

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Optiver Holding B.V. purchased a new position in shares of Klaviyo during the 1st quarter valued at $39,000. Parallel Advisors LLC increased its stake in Klaviyo by 30.1% in the 3rd quarter. Parallel Advisors LLC now owns 2,276 shares of the company’s stock worth $36,000 after buying an additional 526 shares in the last quarter. Rockefeller Capital Management L.P. increased its stake in Klaviyo by 2,641.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 3,207 shares of the company’s stock worth $104,000 after buying an additional 3,090 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Klaviyo by 2,085.1% during the first quarter. EverSource Wealth Advisors LLC now owns 3,802 shares of the company’s stock valued at $74,000 after acquiring an additional 3,628 shares during the period. Finally, State of Wyoming raised its holdings in Klaviyo by 100.8% during the third quarter. State of Wyoming now owns 4,554 shares of the company’s stock valued at $72,000 after acquiring an additional 2,286 shares during the period. Institutional investors own 45.43% of the company’s stock.

About Klaviyo

Klaviyo, Inc (NYSE: KVYO) provides a customer data and marketing automation platform designed primarily for businesses that sell online. Its software helps organizations collect, organize and analyze customer information, then use those insights to create personalized marketing and customer engagement campaigns.

The company’s platform supports communication across channels including email, SMS and mobile push notifications. Its products provide tools for audience segmentation, campaign orchestration, automation, analytics and reporting, with capabilities intended to help businesses improve customer acquisition, engagement and retention.