Scotiabank Forecasts Strong Price Appreciation for Klaviyo (NYSE:KVYO) Stock

Klaviyo (NYSE:KVYO) had its price target increased by investment analysts at Scotiabank from $35.00 to $45.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “sector perform” rating on the stock. Scotiabank’s target price suggests a potential downside of 1.42% from the company’s current price.

KVYO has been the topic of several other research reports. William Blair reiterated an “outperform” rating on shares of Klaviyo in a research note on Thursday, December 19th. Robert W. Baird boosted their price target on shares of Klaviyo from $42.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Piper Sandler boosted their price target on shares of Klaviyo from $45.00 to $50.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Canaccord Genuity Group upped their target price on shares of Klaviyo from $32.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Loop Capital upped their target price on shares of Klaviyo from $45.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, December 23rd. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $43.18.

Klaviyo Stock Performance

Shares of Klaviyo stock opened at $45.65 on Wednesday. The company has a market capitalization of $12.31 billion, a P/E ratio of -253.59 and a beta of 0.57. The company has a fifty day moving average of $40.50 and a 200 day moving average of $35.37. Klaviyo has a fifty-two week low of $21.26 and a fifty-two week high of $47.49.

Klaviyo (NYSE:KVYO) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.11 by $0.04. The business had revenue of $235.09 million for the quarter, compared to analysts’ expectations of $226.33 million. Klaviyo had a negative net margin of 5.23% and a positive return on equity of 0.86%. The business’s quarterly revenue was up 33.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($1.24) EPS. Analysts forecast that Klaviyo will post 0.03 EPS for the current year.

Insiders Place Their Bets

In other Klaviyo news, insider Landon Edmond sold 40,000 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $34.56, for a total value of $1,382,400.00. Following the transaction, the insider now directly owns 236,621 shares in the company, valued at $8,177,621.76. This represents a 14.46 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Amanda Whalen sold 1,050 shares of the company’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $40.07, for a total transaction of $42,073.50. Following the completion of the transaction, the chief financial officer now owns 395,616 shares in the company, valued at $15,852,333.12. This represents a 0.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 159,072 shares of company stock worth $6,090,767 in the last three months. Corporate insiders own 53.24% of the company’s stock.

Hedge Funds Weigh In On Klaviyo

Hedge funds and other institutional investors have recently modified their holdings of the business. Lisanti Capital Growth LLC bought a new position in shares of Klaviyo during the third quarter valued at approximately $5,513,000. Pier 88 Investment Partners LLC bought a new position in shares of Klaviyo during the third quarter valued at approximately $966,000. SpiderRock Advisors LLC boosted its stake in shares of Klaviyo by 1,571.7% during the third quarter. SpiderRock Advisors LLC now owns 501,500 shares of the company’s stock valued at $17,743,000 after purchasing an additional 471,500 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in shares of Klaviyo during the third quarter valued at approximately $5,113,000. Finally, Barclays PLC boosted its stake in shares of Klaviyo by 1,202.0% during the third quarter. Barclays PLC now owns 12,825 shares of the company’s stock valued at $453,000 after purchasing an additional 11,840 shares in the last quarter. 45.43% of the stock is currently owned by institutional investors.

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.