Klaviyo (NYSE:KVYO) Upgraded at Zacks Research

Zacks Research upgraded shares of Klaviyo (NYSE:KVYO) from a strong sell rating to a hold rating in a research report report published on Monday,Zacks.com reports.

A number of other research firms have also weighed in on KVYO. Macquarie cut their price objective on Klaviyo from $37.00 to $30.00 and set a “neutral” rating on the stock in a research report on Tuesday. Wall Street Zen upgraded Klaviyo from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Piper Sandler reaffirmed an “overweight” rating and issued a $45.00 price target (down previously from $50.00) on shares of Klaviyo in a research report on Thursday, November 6th. Morgan Stanley raised Klaviyo from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $40.00 to $50.00 in a research report on Friday, September 19th. Finally, Wells Fargo & Company started coverage on shares of Klaviyo in a report on Tuesday, September 30th. They issued an “overweight” rating and a $40.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Klaviyo has a consensus rating of “Moderate Buy” and a consensus price target of $42.67.

Klaviyo Stock Performance

Shares of KVYO opened at $29.32 on Monday. The company’s 50-day simple moving average is $28.60 and its 200-day simple moving average is $31.37. Klaviyo has a 1 year low of $23.44 and a 1 year high of $49.55. The stock has a market capitalization of $8.80 billion, a PE ratio of -122.18 and a beta of 1.26.

Klaviyo (NYSE:KVYO) last announced its quarterly earnings data on Thursday, September 25th. The company reported $0.16 earnings per share for the quarter. The firm had revenue of $293.12 million during the quarter. Klaviyo had a negative net margin of 5.70% and a negative return on equity of 1.00%. On average, sell-side analysts predict that Klaviyo will post 0.04 earnings per share for the current year.

Insider Buying and Selling at Klaviyo

In other Klaviyo news, 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Andrew Bialecki sold 226,702 shares of the business’s stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $31.50, for a total transaction of $7,141,113.00. The disclosure for this sale is available in the SEC filing. Insiders have sold 5,804,084 shares of company stock worth $182,590,757 over the last three months. Insiders own 49.92% of the company’s stock.

Hedge Funds Weigh In On Klaviyo

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of Klaviyo by 9.7% during the first quarter. Vanguard Group Inc. now owns 8,467,933 shares of the company’s stock worth $256,240,000 after purchasing an additional 746,078 shares during the last quarter. Encompass More Asset Management acquired a new position in Klaviyo in the 1st quarter valued at $549,000. Assetmark Inc. increased its stake in Klaviyo by 316.6% in the 2nd quarter. Assetmark Inc. now owns 62,577 shares of the company’s stock valued at $2,101,000 after buying an additional 47,555 shares during the period. Raymond James Financial Inc. raised its position in Klaviyo by 85.4% during the 1st 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. Finally, Jump Financial LLC acquired a new stake in shares of Klaviyo in the 1st quarter worth $3,249,000. 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.