Klaviyo, Inc. (NYSE:KVYO) Receives $42.90 Average Price Target from Analysts

Shares of Klaviyo, Inc. (NYSE:KVYO) have received a consensus rating of “Moderate Buy” from the twenty-four research firms that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, nineteen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $42.9048.

Several equities analysts have commented on KVYO shares. Jefferies Financial Group raised shares of Klaviyo to a “strong-buy” rating in a research report on Wednesday, October 22nd. Cantor Fitzgerald lowered their price objective on Klaviyo from $48.00 to $40.00 and set an “overweight” rating on the stock in a report on Wednesday, October 29th. Piper Sandler restated an “overweight” rating and issued a $45.00 target price (down from $50.00) on shares of Klaviyo in a report on Thursday, November 6th. William Blair reiterated an “outperform” rating on shares of Klaviyo in a report on Monday, November 17th. Finally, Truist Financial set a $45.00 price objective on shares of Klaviyo in a research note on Tuesday, November 25th.

Insiders Place Their Bets

In related news, major shareholder Summit Partners L. P sold 4,000,000 shares of the business’s stock in a transaction dated Monday, September 8th. The stock was 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 Securities & Exchange Commission, which is accessible through this link. Also, CEO Andrew Bialecki sold 226,382 shares of the stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $32.35, for a total value of $7,323,457.70. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 5,602,899 shares of company stock valued at $175,185,919 in the last quarter. Insiders own 53.24% of the company’s stock.

Institutional Trading of Klaviyo

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Klaviyo by 19.2% in the third quarter. Vanguard Group Inc. now owns 12,787,728 shares of the company’s stock worth $354,092,000 after purchasing an additional 2,059,550 shares during the period. Cooper Creek Partners Management LLC acquired a new position in shares of Klaviyo in the 2nd quarter valued at $57,109,000. Norges Bank bought a new position in shares of Klaviyo during the 2nd quarter worth about $52,629,000. American Century Companies Inc. boosted its position in shares of Klaviyo by 123.4% during the 2nd quarter. American Century Companies Inc. now owns 2,685,480 shares of the company’s stock valued at $90,178,000 after acquiring an additional 1,483,427 shares in the last quarter. Finally, Fiera Capital Corp bought a new stake in Klaviyo in the second quarter valued at about $42,645,000. Institutional investors and hedge funds own 45.43% of the company’s stock.

Klaviyo Price Performance

Shares of Klaviyo stock opened at $28.18 on Friday. The stock has a 50-day simple moving average of $27.35 and a 200-day simple moving average of $30.90. Klaviyo has a 52-week low of $23.44 and a 52-week high of $49.55. The firm has a market cap of $8.51 billion, a price-to-earnings ratio of -117.41 and a beta of 1.18.

Klaviyo (NYSE:KVYO) last posted its earnings results on Thursday, September 25th. The company reported $0.16 earnings per share (EPS) for the quarter. Klaviyo had a negative net margin of 5.70% and a negative return on equity of 1.00%. The firm had revenue of $293.12 million during the quarter. As a group, equities research analysts predict that Klaviyo will post 0.04 earnings per share for the current year.

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.