Klaviyo, Inc. (NYSE:KVYO) Stock Has Consensus Target Price of $26.86 According to Brokerages

Shares of Klaviyo, Inc. (NYSE:KVYO) have been assigned an average recommendation of “Moderate Buy” from the twenty-two ratings firms that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seventeen have assigned a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $26.86.

Several brokerages have recently issued reports on KVYO. Mizuho set a $28.00 price objective on shares of Klaviyo in a research note on Thursday, August 6th. Morgan Stanley set a $31.00 target price on Klaviyo in a research report on Thursday, August 6th. Wall Street Zen cut Klaviyo from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Stephens lifted their target price on Klaviyo from $24.00 to $25.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Finally, Benchmark downgraded Klaviyo from a “buy” rating to a “hold” rating in a research report on Thursday, August 6th.

Insider Buying and Selling

In other news, CFO Amanda Whalen sold 14,000 shares of Klaviyo stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $18.47, for a total value of $258,580.00. Following the transaction, the chief financial officer directly owned 824,192 shares of the company’s stock, valued at $15,222,826.24. The trade was a 1.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Susan St. Ledger sold 2,328 shares of Klaviyo stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $15.93, for a total value of $37,085.04. Following the completion of the transaction, the director directly owned 23,433 shares in the company, valued at $373,287.69. This represents a 9.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 5,275,468 shares of company stock worth $93,822,653. Corporate insiders own 37.42% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp grew its stake in Klaviyo by 8.9% during the first quarter. Bank of New York Mellon Corp now owns 1,508,137 shares of the company’s stock worth $29,348,000 after buying an additional 123,480 shares during the period. Barton Investment Management raised its stake in shares of Klaviyo by 56.7% in the 1st quarter. Barton Investment Management now owns 1,050,052 shares of the company’s stock valued at $20,434,000 after acquiring an additional 380,010 shares during the period. Zweig DiMenna Associates LLC purchased a new position in shares of Klaviyo in the 1st quarter valued at $2,514,000. Kerrisdale Advisers LLC purchased a new position in shares of Klaviyo in the 2nd quarter valued at $1,376,000. Finally, Congress Asset Management Co. lifted its holdings in shares of Klaviyo by 21.8% during the 3rd quarter. Congress Asset Management Co. now owns 774,660 shares of the company’s stock valued at $12,185,000 after acquiring an additional 138,430 shares in the last quarter. Hedge funds and other institutional investors own 45.43% of the company’s stock.

Klaviyo Stock Performance

Klaviyo stock opened at $20.70 on Tuesday. Klaviyo has a 1 year low of $12.53 and a 1 year high of $33.35. The firm has a 50 day moving average price of $17.58 and a 200 day moving average price of $18.28. The company has a market cap of $5.90 billion, a price-to-earnings ratio of 105.55 and a beta of 0.67.

Klaviyo (NYSE:KVYO) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.19 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.19. The company had revenue of $370.58 million for the quarter, compared to the consensus estimate of $362.08 million. Klaviyo had a net margin of 0.49% and a return on equity of 5.67%. Klaviyo’s revenue was up 26.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.16 earnings per share. Sell-side analysts predict that Klaviyo will post 0.20 EPS for the current year.

About Klaviyo

Klaviyo, Inc (NYSE: KVYO) provides a customer data and marketing automation platform designed primarily for businesses that sell online. Its software helps organizations collect, organize and analyze customer information, then use those insights to create personalized marketing and customer engagement campaigns.

The company’s platform supports communication across channels including email, SMS and mobile push notifications. Its products provide tools for audience segmentation, campaign orchestration, automation, analytics and reporting, with capabilities intended to help businesses improve customer acquisition, engagement and retention.