Klaviyo (NYSE:KVYO - Get Free Report)'s stock had its "neutral" rating reaffirmed by stock analysts at Macquarie in a note issued to investors on Friday,Benzinga reports. They presently have a $36.00 price target on the stock. Macquarie's price target suggests a potential upside of 8.08% from the stock's previous close.
A number of other analysts have also weighed in on KVYO. Canaccord Genuity Group upped their price objective on Klaviyo from $32.00 to $40.00 and gave the stock a "buy" rating in a research report on Thursday. Stifel Nicolaus began coverage on Klaviyo in a report on Tuesday, October 22nd. They issued a "buy" rating and a $45.00 target price on the stock. Robert W. Baird upped their price objective on Klaviyo from $42.00 to $45.00 and gave the stock an "outperform" rating in a research report on Thursday. Barclays boosted their target price on Klaviyo from $32.00 to $41.00 and gave the stock an "overweight" rating in a research note on Friday, October 11th. Finally, Piper Sandler raised their price objective on shares of Klaviyo from $34.00 to $45.00 and gave the stock an "overweight" rating in a report on Friday, October 18th. 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, Klaviyo currently has an average rating of "Moderate Buy" and an average target price of $39.00.
Check Out Our Latest Analysis on Klaviyo
NYSE KVYO traded down $0.47 on Friday, reaching $33.31. The stock had a trading volume of 2,000,976 shares, compared to its average volume of 1,160,848. Klaviyo has a 12-month low of $21.26 and a 12-month high of $41.00. The stock has a fifty day moving average price of $35.12 and a two-hundred day moving average price of $28.55. The firm has a market capitalization of $8.88 billion, a price-to-earnings ratio of -23.63 and a beta of 1.13.
Klaviyo (NYSE:KVYO - Get Free Report) last released its earnings results on Wednesday, August 7th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.05. The company had revenue of $222.21 million during the quarter, compared to the consensus estimate of $212.34 million. Klaviyo had a negative return on equity of 32.19% and a negative net margin of 42.15%. Klaviyo's revenue was up 35.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.09 EPS. Sell-side analysts forecast that Klaviyo will post -0.01 earnings per share for the current fiscal year.
In related news, CTO Allen Chaves sold 130,000 shares of Klaviyo stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $31.59, for a total value of $4,106,700.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Klaviyo news, major shareholder Summit Partners L. P sold 1,300 shares of Klaviyo stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $31.64, for a total transaction of $41,132.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Allen Chaves sold 130,000 shares of the company's stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $31.59, for a total transaction of $4,106,700.00. The disclosure for this sale can be found here. Insiders have sold a total of 789,711 shares of company stock valued at $25,143,646 over the last quarter. Corporate insiders own 53.24% of the company's stock.
Several institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp grew its holdings in Klaviyo by 677.7% during the second quarter. Bank of New York Mellon Corp now owns 2,762,128 shares of the company's stock worth $68,749,000 after acquiring an additional 2,406,973 shares during the period. SpiderRock Advisors LLC grew its position in Klaviyo by 1,571.7% in the third quarter. SpiderRock Advisors LLC now owns 501,500 shares of the company's stock worth $17,743,000 after buying an additional 471,500 shares during the last quarter. Mayflower Financial Advisors LLC boosted its stake in shares of Klaviyo by 181.4% during the 3rd quarter. Mayflower Financial Advisors LLC now owns 684,948 shares of the company's stock worth $24,233,000 after acquiring an additional 441,500 shares in the last quarter. Millennium Management LLC raised its position in shares of Klaviyo by 53.6% during the second quarter. Millennium Management LLC now owns 1,120,485 shares of the company's stock worth $27,889,000 after purchasing an additional 390,849 shares during the period. Finally, Claro Advisors LLC increased its stake in Klaviyo by 38.7% in the 2nd quarter. Claro Advisors LLC now owns 1,280,035 shares of the company's stock worth $31,860,000 after purchasing an additional 357,355 shares in the last quarter. 45.43% of the stock is owned by institutional investors.
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.
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