Klaviyo (NYSE:KVYO) Given New $54.00 Price Target at Cantor Fitzgerald

Klaviyo (NYSE:KVYO) had its price target increased by Cantor Fitzgerald from $47.00 to $54.00 in a research note issued to investors on Thursday,Benzinga reports. They currently have an overweight rating on the stock.

A number of other research firms have also recently issued reports on KVYO. Wells Fargo & Company cut their price target on Klaviyo from $48.00 to $45.00 and set an “equal weight” rating for the company in a report on Thursday. William Blair reaffirmed an “outperform” rating on shares of Klaviyo in a report on Thursday, December 19th. Piper Sandler lifted their price target on Klaviyo from $50.00 to $53.00 and gave the company an “overweight” rating in a report on Thursday. KeyCorp lifted their price target on Klaviyo from $42.00 to $45.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Finally, Canaccord Genuity Group boosted their price objective on Klaviyo from $32.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.44.

Klaviyo Stock Performance

Shares of NYSE:KVYO opened at $44.23 on Thursday. Klaviyo has a 52 week low of $21.26 and a 52 week high of $49.55. The company’s fifty day moving average is $43.66 and its 200-day moving average is $37.80.

Klaviyo (NYSE:KVYO) last issued its earnings results on Wednesday, February 19th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.12). Klaviyo had a negative net margin of 4.92% and a positive return on equity of 0.90%. The firm had revenue of $270.16 million during the quarter, compared to analyst estimates of $257.24 million. As a group, equities research analysts anticipate that Klaviyo will post 0.04 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Amanda Whalen sold 1,050 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $40.07, for a total value of $42,073.50. Following the completion of the transaction, the chief financial officer now directly owns 395,616 shares in the company, valued at approximately $15,852,333.12. The trade was a 0.26 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Stephen Eric Rowland sold 4,536 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $40.04, for a total value of $181,621.44. Following the completion of the transaction, the president now owns 260,403 shares of the company’s stock, valued at $10,426,536.12. This represents a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 114,536 shares of company stock valued at $4,720,953 in the last ninety days. 53.24% of the stock is owned by insiders.

Hedge Funds Weigh In On Klaviyo

Several institutional investors and hedge funds have recently modified their holdings of the business. Bank Julius Baer & Co. Ltd Zurich grew its position in shares of Klaviyo by 8.0% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,836 shares of the company’s stock valued at $220,000 after purchasing an additional 359 shares during the period. Victory Capital Management Inc. boosted its position in Klaviyo by 10.3% during the 4th quarter. Victory Capital Management Inc. now owns 6,469 shares of the company’s stock worth $267,000 after acquiring an additional 604 shares during the last quarter. Arizona State Retirement System boosted its position in Klaviyo by 4.0% during the 4th quarter. Arizona State Retirement System now owns 16,854 shares of the company’s stock worth $695,000 after acquiring an additional 648 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Klaviyo by 5.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 14,285 shares of the company’s stock worth $589,000 after acquiring an additional 677 shares during the last quarter. Finally, Advisors Asset Management Inc. boosted its position in Klaviyo by 145.6% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company’s stock worth $48,000 after acquiring an additional 808 shares during the last quarter. 45.43% of the stock is currently 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.