Benchmark Lowers Klaviyo (NYSE:KVYO) Price Target to $40.00

Klaviyo (NYSE:KVYO) had its price objective decreased by research analysts at Benchmark from $42.00 to $40.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Benchmark’s price objective indicates a potential upside of 19.90% from the stock’s current price.

KVYO has been the subject of several other research reports. Piper Sandler boosted their price target on Klaviyo from $34.00 to $45.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Stifel Nicolaus began coverage on shares of Klaviyo in a report on Tuesday, October 22nd. They set a “buy” rating and a $45.00 price objective for the company. Cantor Fitzgerald raised their target price on shares of Klaviyo from $31.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Needham & Company LLC reiterated a “buy” rating and set a $40.00 target price on shares of Klaviyo in a research note on Wednesday, September 4th. Finally, KeyCorp upgraded Klaviyo from a “sector weight” rating to an “overweight” rating and set a $33.00 price target on the stock in a research note on Thursday, August 8th. Three research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $39.00.

Klaviyo Stock Performance

Shares of NYSE KVYO opened at $33.36 on Thursday. The firm’s 50 day moving average price is $35.17 and its 200-day moving average price is $28.59. Klaviyo has a 52-week low of $21.26 and a 52-week high of $41.00. The company has a market cap of $8.90 billion, a PE ratio of -185.32 and a beta of 1.13.

Klaviyo (NYSE:KVYO) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.05. Klaviyo had a negative net margin of 5.23% and a positive return on equity of 0.87%. The company had revenue of $222.21 million during the quarter, compared to analyst estimates of $212.34 million. During the same period in the previous year, the business earned $0.09 EPS. The firm’s revenue for the quarter was up 35.0% on a year-over-year basis. On average, analysts forecast that Klaviyo will post -0.01 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Amanda Whalen sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $29.72, for a total value of $297,200.00. Following the transaction, the chief financial officer now directly owns 422,813 shares of the company’s stock, valued at approximately $12,566,002.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CTO Allen Chaves sold 130,000 shares of Klaviyo stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $31.59, for a total value of $4,106,700.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Amanda Whalen sold 10,000 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $29.72, for a total value of $297,200.00. Following the completion of the sale, the chief financial officer now owns 422,813 shares in the company, valued at $12,566,002.36. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 789,711 shares of company stock valued at $25,143,646. Company insiders own 53.24% of the company’s stock.

Institutional Trading of Klaviyo

A number of large investors have recently added to or reduced their stakes in the company. Quantbot Technologies LP boosted its position in shares of Klaviyo by 82.8% during the 1st quarter. Quantbot Technologies LP now owns 54,424 shares of the company’s stock valued at $1,387,000 after acquiring an additional 24,651 shares during the last quarter. Wealthspire Advisors LLC purchased a new position in shares of Klaviyo in the 1st quarter worth $364,000. Swiss National Bank bought a new stake in shares of Klaviyo in the 1st quarter worth about $1,776,000. Blair William & Co. IL increased its holdings in shares of Klaviyo by 1,234.0% in the 1st quarter. Blair William & Co. IL now owns 175,531 shares of the company’s stock worth $4,473,000 after buying an additional 162,373 shares during the last quarter. Finally, Cynosure Group LLC purchased a new stake in shares of Klaviyo during the 1st quarter valued at about $1,344,000. Institutional investors 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.