Klaviyo’s (KVYO) “Outperform” Rating Reiterated at William Blair

William Blair reiterated their outperform rating on shares of Klaviyo (NYSE:KVYO) in a report released on Thursday morning,RTT News reports.

Several other brokerages also recently weighed in on KVYO. Wells Fargo & Company reissued a “buy” rating on shares of Klaviyo in a research note on Friday, October 18th. Piper Sandler upped their price objective on shares of Klaviyo from $34.00 to $45.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Benchmark lowered their target price on shares of Klaviyo from $42.00 to $40.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Canaccord Genuity Group increased their price target on Klaviyo from $32.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, Stifel Nicolaus started coverage on Klaviyo in a research report on Tuesday, October 22nd. They issued a “buy” rating and a $45.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $39.69.

Klaviyo Stock Performance

Shares of KVYO stock opened at $44.08 on Thursday. The stock has a market cap of $11.89 billion, a PE ratio of -244.88 and a beta of 0.97. Klaviyo has a 1 year low of $21.26 and a 1 year high of $44.77. The stock has a fifty day moving average price of $38.09 and a 200 day moving average price of $31.81.

Klaviyo (NYSE:KVYO) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $235.09 million for the quarter, compared to analysts’ expectations of $226.33 million. During the same period in the prior year, the company earned ($1.24) EPS. The firm’s revenue was up 33.7% on a year-over-year basis. As a group, equities research analysts predict that Klaviyo will post 0.03 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Amanda Whalen sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $35.36, for a total transaction of $353,600.00. Following the transaction, the chief financial officer now directly owns 422,813 shares of the company’s stock, valued at approximately $14,950,667.68. The trade was a 2.31 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, President Stephen Eric Rowland sold 4,536 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the president now owns 186,785 shares of the company’s stock, valued at approximately $6,455,289.60. This represents a 2.37 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 127,650 shares of company stock valued at $4,676,705. Company insiders own 53.24% of the company’s stock.

Institutional Investors Weigh In On Klaviyo

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new stake in shares of Klaviyo during the second quarter valued at about $236,000. Bank of New York Mellon Corp grew its stake in Klaviyo by 677.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,762,128 shares of the company’s stock valued at $68,749,000 after purchasing an additional 2,406,973 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Klaviyo by 1,447.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,852 shares of the company’s stock worth $668,000 after purchasing an additional 25,117 shares during the last quarter. Claro Advisors LLC raised its position in shares of Klaviyo by 38.7% in the 2nd quarter. Claro Advisors LLC now owns 1,280,035 shares of the company’s stock valued at $31,860,000 after purchasing an additional 357,355 shares in the last quarter. Finally, Versor Investments LP purchased a new position in shares of Klaviyo during the 2nd quarter valued at approximately $309,000. Hedge funds and other 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.