Klaviyo, Inc. (NYSE:KVYO) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Klaviyo, Inc. (NYSE:KVYO) have been given an average recommendation of “Moderate Buy” by the seventeen analysts that are currently covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $39.69.

A number of research analysts have issued reports on KVYO shares. Macquarie restated a “neutral” rating and set a $36.00 price target on shares of Klaviyo in a research note on Friday, November 8th. Robert W. Baird upped their target price on Klaviyo from $42.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Wells Fargo & Company reaffirmed a “buy” rating on shares of Klaviyo in a research report on Friday, October 18th. Needham & Company LLC boosted their price target on Klaviyo from $40.00 to $46.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Canaccord Genuity Group raised their price objective on Klaviyo from $32.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th.

Insider Buying and Selling

In related news, CTO Allen Chaves sold 130,000 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $31.85, for a total value of $4,140,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Amanda Whalen sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $39.39, for a total value of $590,850.00. Following the completion of the sale, the chief financial officer now directly owns 391,820 shares in the company, valued at approximately $15,433,789.80. The trade was a 3.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 275,764 shares of company stock valued at $9,383,087. Corporate insiders own 53.24% of the company’s stock.

Hedge Funds Weigh In On Klaviyo

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. grew its position in shares of Klaviyo by 145.6% in the third quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company’s stock valued at $48,000 after purchasing an additional 808 shares during the period. nVerses Capital LLC acquired a new stake in Klaviyo in the 3rd quarter worth about $53,000. West Tower Group LLC purchased a new stake in Klaviyo during the 3rd quarter worth approximately $177,000. Victory Capital Management Inc. purchased a new stake in Klaviyo during the 3rd quarter worth approximately $208,000. Finally, SG Americas Securities LLC purchased a new position in shares of Klaviyo in the second quarter valued at approximately $236,000. 45.43% of the stock is owned by hedge funds and other institutional investors.

Klaviyo Price Performance

Shares of KVYO stock opened at $39.06 on Friday. The stock’s fifty day moving average price is $37.41 and its 200 day moving average price is $31.05. Klaviyo has a 1-year low of $21.26 and a 1-year high of $41.00. The company has a market cap of $10.53 billion, a price-to-earnings ratio of -217.00 and a beta of 0.97.

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

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.