Klaviyo (NYSE:KVYO) Price Target Raised to $45.00 at KeyCorp

Klaviyo (NYSE:KVYO) had its price objective raised by KeyCorp from $42.00 to $45.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. KeyCorp’s target price points to a potential upside of 13.32% from the company’s previous close.

A number of other equities analysts have also weighed in on KVYO. Robert W. Baird boosted their price objective on shares of Klaviyo from $42.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Needham & Company LLC lifted their price objective on Klaviyo from $40.00 to $46.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Canaccord Genuity Group upped their price target on shares of Klaviyo from $32.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Macquarie restated a “neutral” rating and set a $36.00 target price on shares of Klaviyo in a research note on Friday, November 8th. Finally, Wells Fargo & Company reaffirmed a “buy” rating on shares of Klaviyo in a research report on Friday, October 18th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $39.69.

Klaviyo Price Performance

Klaviyo stock traded up $0.47 during trading hours on Friday, hitting $39.71. The stock had a trading volume of 119,843 shares, compared to its average volume of 1,177,172. The stock has a market capitalization of $10.71 billion, a price-to-earnings ratio of -221.27 and a beta of 0.97. Klaviyo has a 1-year low of $21.26 and a 1-year high of $41.00. The stock’s fifty day moving average is $37.34 and its two-hundred day moving average is $30.94.

Klaviyo (NYSE:KVYO) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.04. Klaviyo had a negative net margin of 5.23% and a positive return on equity of 0.86%. The company had revenue of $235.09 million for the quarter, compared to the consensus estimate of $226.33 million. During the same quarter in the prior year, the firm earned ($1.24) earnings per share. The company’s revenue for the quarter was up 33.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Klaviyo will post 0.03 EPS for the current year.

Insider Buying and Selling

In other news, President Stephen Eric Rowland sold 4,536 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $34.56, for a total value of $156,764.16. Following the sale, the president now owns 186,785 shares of the company’s stock, valued at approximately $6,455,289.60. The trade was a 2.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Amanda Whalen sold 10,000 shares of Klaviyo stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $35.36, for a total value of $353,600.00. Following the transaction, the chief financial officer now directly owns 422,813 shares in the company, valued at approximately $14,950,667.68. The trade was a 2.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 260,764 shares of company stock valued at $8,792,237 in the last three months. 53.24% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Klaviyo

Large investors have recently made changes to their positions in the business. Lisanti Capital Growth LLC acquired a new stake in Klaviyo during the 3rd quarter worth about $5,513,000. Pier 88 Investment Partners LLC purchased a new position in shares of Klaviyo in the third quarter worth approximately $966,000. SpiderRock Advisors LLC raised its holdings in shares of Klaviyo by 1,571.7% during the third quarter. SpiderRock Advisors LLC now owns 501,500 shares of the company’s stock valued at $17,743,000 after acquiring an additional 471,500 shares during the period. Integrated Wealth Concepts LLC purchased a new stake in shares of Klaviyo in the 3rd quarter valued at approximately $5,113,000. Finally, Canada Pension Plan Investment Board acquired a new position in Klaviyo in the 2nd quarter worth approximately $747,000. Institutional investors own 45.43% of the company’s stock.

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.