Klaviyo (NYSE:KVYO) Upgraded to Overweight at Barclays

Barclays upgraded shares of Klaviyo (NYSE:KVYO) from an equal weight rating to an overweight rating in a research report released on Wednesday, Marketbeat.com reports. They currently have $29.00 price target on the stock, up from their prior price target of $25.00.

Other equities research analysts have also recently issued research reports about the stock. KeyCorp assumed coverage on shares of Klaviyo in a report on Thursday, March 21st. They issued a sector weight rating on the stock. Morgan Stanley reduced their price objective on Klaviyo from $37.00 to $32.00 and set an equal weight rating for the company in a research report on Wednesday, April 17th. Canaccord Genuity Group dropped their target price on Klaviyo from $37.00 to $32.00 and set a buy rating on the stock in a research report on Thursday, May 9th. Needham & Company LLC restated a buy rating and set a $40.00 price target on shares of Klaviyo in a research note on Friday, May 17th. Finally, Robert W. Baird dropped their price objective on shares of Klaviyo from $40.00 to $35.00 and set an outperform rating on the stock in a report on Thursday, May 9th. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $35.75.

Klaviyo Price Performance

Klaviyo stock opened at $23.22 on Wednesday. Klaviyo has a 12 month low of $21.51 and a 12 month high of $39.47. The stock has a fifty day simple moving average of $23.31 and a two-hundred day simple moving average of $25.89.

Klaviyo (NYSE:KVYO) last released its quarterly earnings data on Wednesday, May 8th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.10 by $0.03. The business had revenue of $210.00 million during the quarter, compared to the consensus estimate of $202.08 million. The company’s revenue for the quarter was up 34.5% on a year-over-year basis. Analysts expect that Klaviyo will post -0.11 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Jennifer Ceran sold 13,000 shares of the stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $24.65, for a total value of $320,450.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Jennifer Ceran sold 13,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $24.65, for a total transaction of $320,450.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Landon Edmond sold 3,545 shares of the firm’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $24.15, for a total value of $85,611.75. Following the completion of the sale, the insider now owns 167,127 shares of the company’s stock, valued at $4,036,117.05. The disclosure for this sale can be found here. Corporate insiders own 53.24% of the company’s stock.

Institutional Trading of Klaviyo

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Clearbridge Investments LLC raised its holdings in shares of Klaviyo by 1.5% in the first quarter. Clearbridge Investments LLC now owns 2,205,684 shares of the company’s stock worth $56,201,000 after buying an additional 31,587 shares during the period. Goldman Sachs Group Inc. grew its position in Klaviyo by 243.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,472,140 shares of the company’s stock valued at $40,896,000 after acquiring an additional 1,042,902 shares during the last quarter. Vanguard Group Inc. purchased a new stake in Klaviyo in the third quarter worth $49,833,000. Franklin Resources Inc. lifted its position in shares of Klaviyo by 95.4% during the fourth quarter. Franklin Resources Inc. now owns 1,380,515 shares of the company’s stock worth $38,351,000 after purchasing an additional 673,929 shares during the last quarter. Finally, Glynn Capital Management LLC boosted its stake in shares of Klaviyo by 291.3% during the first quarter. Glynn Capital Management LLC now owns 1,139,307 shares of the company’s stock valued at $29,030,000 after purchasing an additional 848,152 shares during the period. 45.43% of the stock is owned by hedge funds and other institutional investors.

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.