BTIG Research Upgrades Klaviyo (NYSE:KVYO) to Strong-Buy

Klaviyo (NYSE:KVYO) was upgraded by equities research analysts at BTIG Research to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

A number of other research analysts have also recently commented on KVYO. Weiss Ratings started coverage on Klaviyo in a research note on Saturday, November 1st. They set a “sell (d-)” rating on the stock. Needham & Company LLC reiterated a “buy” rating and set a $45.00 target price on shares of Klaviyo in a report on Friday, September 26th. Wells Fargo & Company assumed coverage on Klaviyo in a report on Tuesday, September 30th. They issued an “overweight” rating and a $40.00 price target for the company. Wall Street Zen downgraded shares of Klaviyo from a “buy” rating to a “hold” rating in a research report on Saturday, December 6th. Finally, KeyCorp reduced their target price on shares of Klaviyo from $50.00 to $45.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $42.77.

Klaviyo Stock Up 1.8%

Klaviyo stock opened at $29.96 on Monday. The firm has a fifty day moving average of $27.46 and a 200-day moving average of $30.55. Klaviyo has a 52-week low of $23.44 and a 52-week high of $49.55. The firm has a market capitalization of $9.05 billion, a P/E ratio of -124.82 and a beta of 1.18.

Klaviyo (NYSE:KVYO) last announced its quarterly earnings results on Thursday, September 25th. The company reported $0.16 earnings per share for the quarter. Klaviyo had a negative net margin of 5.70% and a negative return on equity of 1.00%. The firm had revenue of $293.12 million during the quarter. On average, research analysts expect that Klaviyo will post 0.04 EPS for the current fiscal year.

Insider Activity

In other news, CEO Andrew Bialecki sold 211,358 shares of the stock in a transaction that occurred on Tuesday, September 23rd. The stock was sold at an average price of $35.45, for a total transaction of $7,492,641.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders sold 1,668,743 shares of company stock valued at $48,174,380. Corporate insiders own 49.92% of the company’s stock.

Institutional Trading of Klaviyo

Institutional investors have recently added to or reduced their stakes in the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in Klaviyo during the 2nd quarter valued at $31,000. Caitong International Asset Management Co. Ltd raised its stake in shares of Klaviyo by 1,650.9% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 963 shares of the company’s stock valued at $27,000 after purchasing an additional 908 shares in the last quarter. First Horizon Advisors Inc. bought a new position in shares of Klaviyo during the second quarter worth about $37,000. FNY Investment Advisers LLC bought a new position in shares of Klaviyo during the third quarter worth about $34,000. Finally, State of Wyoming acquired a new position in Klaviyo in the first quarter worth about $42,000. 45.43% of the stock is owned by institutional investors and hedge funds.

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.