Klaviyo (NYSE:KVYO) Raised to “Overweight” at KeyCorp

KeyCorp upgraded shares of Klaviyo (NYSE:KVYO) from a sector weight rating to an overweight rating in a research report sent to investors on Thursday morning, Marketbeat Ratings reports. The brokerage currently has $33.00 price objective on the stock.

Several other brokerages have also recently commented on KVYO. Piper Sandler dropped their price target on Klaviyo from $38.00 to $30.00 and set an overweight rating for the company in a research report on Friday, July 12th. Morgan Stanley lowered their price target on shares of Klaviyo from $37.00 to $32.00 and set an equal weight rating on the stock in a research report on Wednesday, April 17th. Needham & Company LLC reiterated a buy rating and issued a $40.00 price objective on shares of Klaviyo in a report on Friday, May 17th. Canaccord Genuity Group lowered their target price on Klaviyo from $37.00 to $32.00 and set a buy rating on the stock in a report on Thursday, May 9th. Finally, Barclays upgraded Klaviyo from an equal weight rating to an overweight rating and upped their price target for the company from $25.00 to $29.00 in a research report on Wednesday, June 12th. Three investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, Klaviyo presently has a consensus rating of Moderate Buy and a consensus target price of $35.65.

Klaviyo Stock Performance

NYSE KVYO traded up $0.31 during trading hours on Thursday, reaching $31.09. The company’s stock had a trading volume of 3,488,495 shares, compared to its average volume of 1,194,133. The company’s 50-day moving average is $24.23 and its two-hundred day moving average is $24.95. Klaviyo has a 1-year low of $21.26 and a 1-year high of $39.47.

Klaviyo (NYSE:KVYO) last announced its earnings results on Wednesday, August 7th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.05. The business had revenue of $222.21 million for the quarter, compared to analysts’ expectations of $212.34 million. The company’s quarterly revenue was up 35.0% on a year-over-year basis. During the same quarter last year, the business earned $0.09 EPS. Sell-side analysts anticipate that Klaviyo will post -0.11 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Jennifer Ceran sold 13,000 shares of Klaviyo stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $24.65, for a total value of $320,450.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Klaviyo news, CFO Amanda Whalen sold 60,000 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $30.23, for a total value of $1,813,800.00. Following the transaction, the chief financial officer now directly owns 435,993 shares in the company, valued at $13,180,068.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 disclosure for this sale can be found here. Insiders sold a total of 94,766 shares of company stock valued at $2,787,665 over the last 90 days. 53.24% of the stock is owned by company insiders.

Hedge Funds Weigh In On Klaviyo

A number of large investors have recently bought and sold shares of KVYO. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Klaviyo during the fourth quarter worth $1,780,000. Janus Henderson Group PLC purchased a new stake in shares of Klaviyo in the 1st quarter worth about $662,000. Swiss National Bank purchased a new stake in shares of Klaviyo in the 1st quarter worth about $1,776,000. Jump Financial LLC acquired a new stake in Klaviyo in the 4th quarter valued at about $1,708,000. Finally, Pursue Wealth Partners LLC purchased a new position in Klaviyo during the 4th quarter valued at about $1,753,000. Hedge funds and other 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.