Wall Street Zen Downgrades Klaviyo (NYSE:KVYO) to Hold

Klaviyo (NYSE:KVYO) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

Several other research analysts also recently weighed in on KVYO. Jefferies Financial Group upgraded shares of Klaviyo to a “strong-buy” rating in a research report on Wednesday, October 22nd. Robert W. Baird raised their target price on Klaviyo from $39.00 to $40.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. Stifel Nicolaus cut their price target on Klaviyo from $42.00 to $40.00 and set a “buy” rating for the company in a report on Thursday, November 6th. KeyCorp decreased their price objective on Klaviyo from $50.00 to $45.00 and set an “overweight” rating on the stock in a research note on Thursday, November 6th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $45.00 price objective (down from $50.00) on shares of Klaviyo in a research report on Thursday, November 6th. One equities research 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’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $42.90.

Klaviyo Stock Performance

Shares of NYSE:KVYO opened at $29.50 on Friday. The stock’s 50-day simple moving average is $27.00 and its two-hundred day simple moving average is $30.80. The stock has a market capitalization of $8.91 billion, a price-to-earnings ratio of -122.91 and a beta of 1.18. Klaviyo has a 52-week low of $23.44 and a 52-week high of $49.55.

Klaviyo (NYSE:KVYO) last issued 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 for the quarter. Klaviyo had a negative net margin of 5.70% and a negative return on equity of 1.00%. As a group, equities analysts forecast that Klaviyo will post 0.04 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, President Stephen Eric Rowland sold 7,105 shares of the business’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $24.35, for a total value of $173,006.75. Following the transaction, the president directly owned 431,516 shares of the company’s stock, valued at approximately $10,507,414.60. The trade was a 1.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Amanda Whalen sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, October 10th. The stock was sold at an average price of $25.03, for a total value of $375,450.00. Following the completion of the transaction, the chief financial officer owned 481,719 shares of the company’s stock, valued at $12,057,426.57. The trade was a 3.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 5,745,896 shares of company stock worth $179,279,807 over the last quarter. Company insiders own 49.92% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of KVYO. Main Management ETF Advisors LLC grew its holdings in shares of Klaviyo by 1.7% in the second quarter. Main Management ETF Advisors LLC now owns 22,723 shares of the company’s stock valued at $763,000 after purchasing an additional 372 shares in the last quarter. Natixis Advisors LLC lifted its position in Klaviyo by 3.4% during the third quarter. Natixis Advisors LLC now owns 11,397 shares of the company’s stock valued at $316,000 after purchasing an additional 372 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in Klaviyo by 5.3% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 9,312 shares of the company’s stock valued at $258,000 after purchasing an additional 469 shares during the last quarter. Advisors Asset Management Inc. grew its stake in shares of Klaviyo by 22.7% in the 1st quarter. Advisors Asset Management Inc. now owns 2,731 shares of the company’s stock worth $83,000 after buying an additional 506 shares in the last quarter. Finally, Pathstone Holdings LLC increased its holdings in shares of Klaviyo by 0.5% in the 3rd quarter. Pathstone Holdings LLC now owns 173,931 shares of the company’s stock worth $4,816,000 after buying an additional 858 shares during the last quarter. 45.43% of the stock is currently owned by institutional investors.

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.