Klaviyo (NYSE:KVYO) Stock Rating Lowered by Wall Street Zen

Klaviyo (NYSE:KVYO) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday.

Other research analysts have also recently issued reports about the stock. Robert W. Baird raised their price objective on shares of Klaviyo from $39.00 to $40.00 and gave the stock an “outperform” rating in a research note on Thursday, November 6th. Wells Fargo & Company initiated coverage on Klaviyo in a research report on Tuesday, September 30th. They set an “overweight” rating and a $40.00 price target for the company. Zacks Research raised Klaviyo from a “strong sell” rating to a “hold” rating in a report on Monday, November 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $45.00 price objective on shares of Klaviyo in a research note on Friday, September 26th. Finally, Benchmark reiterated a “buy” rating on shares of Klaviyo in a research report on Tuesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.90.

Klaviyo Stock Down 1.6%

Shares of KVYO stock opened at $29.50 on Friday. The stock has a market cap of $8.91 billion, a P/E ratio of -122.91 and a beta of 1.18. Klaviyo has a fifty-two week low of $23.44 and a fifty-two week high of $49.55. The business has a fifty day simple moving average of $27.00 and a 200-day simple moving average of $30.80.

Klaviyo (NYSE:KVYO) last issued its quarterly earnings data on Thursday, September 25th. The company reported $0.16 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 for the quarter. On average, sell-side analysts anticipate that Klaviyo will post 0.04 earnings per share for the current year.

Insider Transactions at Klaviyo

In other news, major shareholder Summit Partners L. P sold 4,000,000 shares of the stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $31.87, for a total transaction of $127,480,000.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Andrew Bialecki sold 226,382 shares of the business’s stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $32.35, for a total transaction of $7,323,457.70. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 5,745,896 shares of company stock valued at $179,279,807. Corporate insiders own 49.92% of the company’s stock.

Institutional Trading of Klaviyo

Institutional investors and hedge funds have recently made changes to their positions in the company. Avantax Advisory Services Inc. acquired a new position in Klaviyo in the first quarter valued at $273,000. Cetera Investment Advisers raised its holdings in shares of Klaviyo by 58.5% in the 1st quarter. Cetera Investment Advisers now owns 10,656 shares of the company’s stock worth $322,000 after purchasing an additional 3,932 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Klaviyo by 10.4% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,516 shares of the company’s stock valued at $379,000 after purchasing an additional 1,177 shares in the last quarter. US Bancorp DE grew its holdings in shares of Klaviyo by 40.6% during the 1st quarter. US Bancorp DE now owns 6,792 shares of the company’s stock worth $206,000 after purchasing an additional 1,960 shares during the period. Finally, Vanguard Group Inc. increased its position in Klaviyo by 9.7% during the 1st 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 in the last quarter. 45.43% of the stock is currently owned by institutional investors and hedge funds.

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.