Stifel Nicolaus Has Lowered Expectations for Klaviyo (NYSE:KVYO) Stock Price

Klaviyo (NYSE:KVYO) had its price target dropped by equities researchers at Stifel Nicolaus from $45.00 to $40.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ price objective indicates a potential upside of 25.98% from the company’s current price.

KVYO has been the topic of a number of other reports. Stephens initiated coverage on shares of Klaviyo in a report on Wednesday, March 19th. They issued an “overweight” rating and a $43.00 price objective on the stock. The Goldman Sachs Group lowered their price objective on shares of Klaviyo from $51.00 to $44.00 and set a “buy” rating on the stock in a report on Wednesday, May 7th. Benchmark lifted their price objective on shares of Klaviyo from $43.00 to $44.00 and gave the company a “buy” rating in a report on Wednesday, May 7th. Truist Financial lowered their price objective on shares of Klaviyo from $55.00 to $40.00 and set a “buy” rating on the stock in a report on Wednesday, April 16th. Finally, Barclays lifted their price objective on shares of Klaviyo from $35.00 to $38.00 and gave the company an “overweight” rating in a report on Wednesday, May 7th. Four research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $42.47.

Klaviyo Stock Performance

Shares of KVYO opened at $31.75 on Tuesday. Klaviyo has a twelve month low of $22.12 and a twelve month high of $49.55. The firm’s 50 day moving average price is $33.68 and its two-hundred day moving average price is $35.71. The firm has a market cap of $9.43 billion, a P/E ratio of -176.38 and a beta of 1.37.

Klaviyo (NYSE:KVYO) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. Klaviyo had a negative net margin of 4.70% and a positive return on equity of 0.74%. The firm had revenue of $279.83 million for the quarter, compared to analyst estimates of $267.79 million. During the same quarter in the previous year, the firm posted $0.13 earnings per share. The business’s revenue was up 33.3% on a year-over-year basis. On average, sell-side analysts anticipate that Klaviyo will post 0.04 earnings per share for the current fiscal year.

Insider Buying and Selling at Klaviyo

In related news, major shareholder Summit Partners L. P sold 4,000,000 shares of the company’s stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which is available at this link. Also, President Stephen Eric Rowland sold 7,079 shares of the company’s stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $31.56, for a total transaction of $223,413.24. Following the sale, the president directly owned 435,845 shares of the company’s stock, valued at $13,755,268.20. This represents a 1.60% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,094,418 shares of company stock valued at $268,580,202 over the last three months. 49.92% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. TFC Financial Management Inc. bought a new position in shares of Klaviyo in the first quarter worth about $27,000. CWM LLC lifted its holdings in shares of Klaviyo by 227.5% in the first quarter. CWM LLC now owns 930 shares of the company’s stock worth $28,000 after acquiring an additional 646 shares during the last quarter. State of Wyoming bought a new position in shares of Klaviyo in the first quarter worth about $42,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Klaviyo by 217.9% in the first quarter. Caitong International Asset Management Co. Ltd now owns 1,421 shares of the company’s stock worth $43,000 after acquiring an additional 974 shares during the last quarter. Finally, CIBC Private Wealth Group LLC lifted its holdings in shares of Klaviyo by 169.5% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,752 shares of the company’s stock worth $72,000 after acquiring an additional 1,102 shares during the last quarter. Institutional investors 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.