Klaviyo (NYSE:KVYO) Price Target Increased to $32.00 by Analysts at Barclays

Klaviyo (NYSE:KVYO) had its target price upped by Barclays from $29.00 to $32.00 in a research report sent to investors on Thursday, Benzinga reports. They currently have an overweight rating on the stock.

Several other equities analysts have also commented on the stock. KeyCorp upgraded shares of Klaviyo from a sector weight rating to an overweight rating and set a $33.00 price target for the company in a research report on Thursday. Needham & Company LLC restated a buy rating and set a $40.00 price target on shares of Klaviyo in a research report on Friday, May 17th. Cantor Fitzgerald upped their price target on shares of Klaviyo from $31.00 to $33.00 and gave the stock an overweight rating in a research report on Thursday. Piper Sandler upped their price target on shares of Klaviyo from $30.00 to $34.00 and gave the stock an overweight rating in a research report on Thursday. Finally, Canaccord Genuity Group reduced their price objective on shares of Klaviyo from $37.00 to $32.00 and set a buy rating for the company in a report on Thursday, May 9th. Three investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $35.65.

Klaviyo Stock Up 1.0 %

KVYO stock traded up $0.31 during trading on Thursday, hitting $31.09. 3,430,373 shares of the company’s stock traded hands, compared to its average volume of 1,194,133. Klaviyo has a 52 week low of $21.26 and a 52 week high of $39.47. The stock has a fifty day moving average price of $24.23 and a two-hundred day moving average price of $24.95.

Klaviyo (NYSE:KVYO) last released its quarterly earnings results on Wednesday, May 8th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.10 by $0.03. The firm had revenue of $210.00 million for the quarter, compared to the consensus estimate of $202.08 million. The business’s quarterly revenue was up 34.5% compared to the same quarter last year. Research analysts predict that Klaviyo will post -0.11 EPS for the current year.

Insider Buying and Selling at Klaviyo

In other Klaviyo news, CFO Amanda Whalen sold 60,000 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $30.23, for a total value of $1,813,800.00. Following the completion of the sale, the chief financial officer now directly owns 435,993 shares of the company’s stock, valued at approximately $13,180,068.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Klaviyo news, CFO Amanda Whalen sold 60,000 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $30.23, for a total value of $1,813,800.00. Following the completion of the sale, the chief financial officer now directly owns 435,993 shares of the company’s stock, valued at approximately $13,180,068.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Jeff Fagnan bought 9,485 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was purchased at an average price of $26.43 per share, with a total value of $250,688.55. Following the completion of the acquisition, the insider now owns 9,485 shares of the company’s stock, valued at $250,688.55. The disclosure for this purchase can be found here. In the last three months, insiders sold 94,766 shares of company stock valued at $2,787,665. 53.24% of the stock is owned by insiders.

Hedge Funds Weigh In On Klaviyo

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its holdings in shares of Klaviyo by 677.7% in the second 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. Goldman Sachs Group Inc. lifted its holdings in shares of Klaviyo by 243.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,472,140 shares of the company’s stock valued at $40,896,000 after purchasing an additional 1,042,902 shares in the last quarter. Claro Advisors LLC purchased a new stake in shares of Klaviyo in the first quarter valued at $23,510,000. Glynn Capital Management LLC lifted its holdings in shares of Klaviyo by 291.3% in the first quarter. Glynn Capital Management LLC now owns 1,139,307 shares of the company’s stock valued at $29,030,000 after purchasing an additional 848,152 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Klaviyo in the fourth quarter valued at $21,258,000. 45.43% of the stock is currently owned by hedge funds and other institutional investors.

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.