Klaviyo (NYSE:KVYO) Raised to Strong-Buy at Jefferies Financial Group

Klaviyo (NYSE:KVYO) was upgraded by investment analysts at Jefferies Financial Group to a “strong-buy” rating in a note issued to investors on Wednesday,Zacks.com reports.

Several other analysts also recently issued reports on KVYO. Citigroup upgraded Klaviyo from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $40.00 to $50.00 in a report on Thursday, August 7th. Macquarie restated a “neutral” rating and set a $37.00 price objective on shares of Klaviyo in a report on Wednesday, August 6th. Piper Sandler restated an “overweight” rating and set a $50.00 price objective (down previously from $55.00) on shares of Klaviyo in a report on Friday, September 26th. Stifel Nicolaus cut their price objective on Klaviyo from $45.00 to $40.00 and set a “buy” rating on the stock in a report on Tuesday, July 15th. Finally, Needham & Company LLC restated a “buy” rating and set a $45.00 price objective on shares of Klaviyo in a report on Friday, September 26th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Klaviyo presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.71.

Klaviyo Trading Up 0.5%

Shares of NYSE KVYO opened at $26.34 on Wednesday. Klaviyo has a twelve month low of $23.44 and a twelve month high of $49.55. The company has a market capitalization of $7.90 billion, a price-to-earnings ratio of -105.37 and a beta of 1.26. The firm has a 50-day moving average of $29.99 and a two-hundred day moving average of $31.26.

Klaviyo (NYSE:KVYO) last issued its quarterly earnings results on Thursday, September 25th. The company reported $0.16 earnings per share for the quarter. Klaviyo had a negative net margin of 6.19% and a negative return on equity of 1.12%. The company had revenue of $293.12 million during the quarter. As a group, research analysts predict that Klaviyo will post 0.04 earnings per share for the current year.

Insider Activity

In other news, CEO Andrew Bialecki sold 226,702 shares of the company’s stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $31.50, for a total value of $7,141,113.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Summit Partners L. P sold 4,000,000 shares of the company’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $31.87, for a total value of $127,480,000.00. The disclosure for this sale can be found here. Insiders have sold 5,741,781 shares of company stock worth $180,719,288 in the last 90 days. Company insiders own 49.92% of the company’s stock.

Hedge Funds Weigh In On Klaviyo

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Klaviyo by 9.7% in the first quarter. Vanguard Group Inc. now owns 8,467,933 shares of the company’s stock worth $256,240,000 after buying an additional 746,078 shares during the last quarter. Encompass More Asset Management acquired a new position in Klaviyo in the first quarter worth approximately $549,000. Raymond James Financial Inc. increased its holdings in Klaviyo by 85.4% in the first quarter. Raymond James Financial Inc. now owns 545,159 shares of the company’s stock worth $16,497,000 after buying an additional 251,104 shares during the last quarter. WCM Investment Management LLC increased its holdings in Klaviyo by 27.7% in the first quarter. WCM Investment Management LLC now owns 390,119 shares of the company’s stock worth $12,101,000 after buying an additional 84,715 shares during the last quarter. Finally, Jump Financial LLC acquired a new position in Klaviyo in the first quarter worth approximately $3,249,000. 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.