Klaviyo (NYSE:KVYO) Coverage Initiated by Analysts at Macquarie

Macquarie assumed coverage on shares of Klaviyo (NYSE:KVYO) in a report published on Thursday, MarketBeat reports. The firm issued a neutral rating and a $36.00 price target on the stock.

A number of other brokerages also recently issued reports on KVYO. 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 report on Thursday, August 8th. Piper Sandler upped their target price on Klaviyo from $34.00 to $45.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Cantor Fitzgerald lifted their price target on shares of Klaviyo from $31.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Robert W. Baird upped their price objective on shares of Klaviyo from $35.00 to $42.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. Finally, Barclays increased their price objective on shares of Klaviyo from $32.00 to $41.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Three investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, Klaviyo presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.29.

Klaviyo Trading Up 4.2 %

Klaviyo stock opened at $39.64 on Thursday. The firm has a market cap of $10.57 billion, a PE ratio of -28.11 and a beta of 1.12. Klaviyo has a 12 month low of $21.26 and a 12 month high of $39.93. The stock’s 50 day simple moving average is $34.66 and its two-hundred day simple moving average is $28.24.

Klaviyo (NYSE:KVYO) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.05. Klaviyo had a negative net margin of 42.15% and a negative return on equity of 32.19%. The firm had revenue of $222.21 million for the quarter, compared to the consensus estimate of $212.34 million. During the same period in the prior year, the firm posted $0.09 earnings per share. The firm’s quarterly revenue was up 35.0% compared to the same quarter last year. On average, equities research analysts forecast that Klaviyo will post -0.01 EPS for the current year.

Insider Buying and Selling

In other Klaviyo news, CFO Amanda Whalen sold 60,000 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $30.23, for a total value of $1,813,800.00. Following the completion of the sale, the chief financial officer now directly owns 435,993 shares of the company’s stock, valued at $13,180,068.39. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, President Stephen Eric Rowland sold 18,114 shares of Klaviyo stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $37.19, for a total transaction of $673,659.66. Following the sale, the president now owns 192,488 shares of the company’s stock, valued at approximately $7,158,628.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Amanda Whalen sold 60,000 shares of the company’s 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 completion of the transaction, the chief financial officer now owns 435,993 shares in the company, valued at $13,180,068.39. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 871,477 shares of company stock worth $27,610,861. 53.24% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Klaviyo

A number of institutional investors have recently modified their holdings of KVYO. SpiderRock Advisors LLC increased its holdings in Klaviyo by 1,571.7% during the 3rd quarter. SpiderRock Advisors LLC now owns 501,500 shares of the company’s stock worth $17,743,000 after purchasing an additional 471,500 shares during the period. nVerses Capital LLC purchased a new position in Klaviyo in the third quarter valued at $53,000. William Marsh Rice University acquired a new stake in Klaviyo in the third quarter valued at $245,000. Renaissance Capital LLC raised its position in shares of Klaviyo by 134.6% during the 3rd quarter. Renaissance Capital LLC now owns 78,401 shares of the company’s stock worth $2,774,000 after acquiring an additional 44,977 shares in the last quarter. Finally, Cabot Wealth Management Inc. boosted its holdings in Klaviyo by 101.1% in the third quarter. Cabot Wealth Management Inc. now owns 90,425 shares of the company’s stock valued at $3,199,000 after purchasing an additional 45,451 shares in the last quarter. 45.43% of the stock is owned by institutional investors and hedge funds.

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.