Klaviyo (NYSE:KVYO) Research Coverage Started at Weiss Ratings

Weiss Ratings initiated coverage on shares of Klaviyo (NYSE:KVYO) in a research note published on Saturday,Weiss Ratings reports. The brokerage issued a sell (d-) rating on the stock.

Several other research analysts also recently commented on KVYO. Stifel Nicolaus reduced 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. Citigroup upgraded Klaviyo from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $40.00 to $50.00 in a report on Thursday, August 7th. Needham & Company LLC reissued a “buy” rating and issued a $45.00 price target on shares of Klaviyo in a research note on Friday, September 26th. Stephens cut their target price on shares of Klaviyo from $45.00 to $43.00 and set an “overweight” rating on the stock in a research note on Friday, September 26th. Finally, TD Cowen increased their price target on shares of Klaviyo from $45.00 to $46.00 and gave the stock a “buy” rating in a research note on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $43.33.

Klaviyo Stock Up 2.1%

Shares of NYSE:KVYO opened at $26.54 on Friday. Klaviyo has a twelve month low of $23.44 and a twelve month high of $49.55. The stock has a market capitalization of $7.96 billion, a PE ratio of -106.16 and a beta of 1.26. The firm’s 50 day moving average price is $29.06 and its 200-day moving average price is $31.30.

Klaviyo (NYSE:KVYO) last posted its quarterly earnings results on Thursday, September 25th. The company reported $0.16 EPS for the quarter. The business had revenue of $293.12 million for the quarter. Klaviyo had a negative return on equity of 1.12% and a negative net margin of 6.19%. Analysts expect that Klaviyo will post 0.04 earnings per share for the current fiscal year.

Insider Transactions at Klaviyo

In related news, Director Ed Hallen sold 89,748 shares of the business’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $31.71, for a total transaction of $2,845,909.08. Following the completion of the sale, the director directly owned 177,776 shares of the company’s stock, valued at $5,637,276.96. The trade was a 33.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Summit Partners L. P sold 4,000,000 shares of the stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $31.87, for a total value of $127,480,000.00. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 5,741,781 shares of company stock worth $180,719,288 over the last three months. 49.92% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Klaviyo

Several institutional investors and hedge funds have recently made changes to their positions in KVYO. CWM LLC raised its holdings in shares of Klaviyo by 227.5% in the 1st quarter. CWM LLC now owns 930 shares of the company’s stock worth $28,000 after purchasing an additional 646 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in shares of Klaviyo in the 2nd quarter valued at about $31,000. First Horizon Advisors Inc. bought a new stake in shares of Klaviyo during the 2nd quarter worth $37,000. State of Wyoming purchased a new position in shares of Klaviyo in the 1st quarter worth about $42,000. Finally, Caitong International Asset Management Co. Ltd raised its stake in shares of Klaviyo by 217.9% during 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 in the last quarter. Institutional investors and hedge funds own 45.43% of the company’s stock.

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.