Klaviyo, Inc. (NYSE:KVYO) Receives Average Recommendation of “Moderate Buy” from Brokerages

Klaviyo, Inc. (NYSE:KVYO) has been given an average rating of “Moderate Buy” by the nineteen analysts that are currently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and sixteen have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $36.00.

A number of equities research analysts have issued reports on the stock. Barclays upped their price objective on Klaviyo from $29.00 to $32.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Klaviyo in a research report on Wednesday, September 4th. Cantor Fitzgerald increased their target price on shares of Klaviyo from $31.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. KeyCorp raised shares of Klaviyo from a “sector weight” rating to an “overweight” rating and set a $33.00 price target on the stock in a report on Thursday, August 8th. Finally, Piper Sandler upped their price objective on Klaviyo from $30.00 to $34.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th.

Insider Transactions at Klaviyo

In related news, CTO Allen Chaves sold 130,000 shares of Klaviyo stock in a transaction on Monday, September 16th. The stock was sold at an average price of $31.85, for a total transaction of $4,140,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CTO Allen Chaves sold 130,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $31.85, for a total value of $4,140,500.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Summit Partners L. P sold 1,300 shares of Klaviyo stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $31.64, for a total transaction of $41,132.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 843,363 shares of company stock valued at $26,583,602. 53.24% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Klaviyo

Several institutional investors have recently modified their holdings of the company. Salem Investment Counselors Inc. grew its stake in shares of Klaviyo by 161.1% during the first quarter. Salem Investment Counselors Inc. now owns 2,350 shares of the company’s stock valued at $60,000 after buying an additional 1,450 shares during the last quarter. EntryPoint Capital LLC purchased a new position in Klaviyo in the 1st quarter worth approximately $71,000. SG Americas Securities LLC purchased a new position in Klaviyo in the 2nd quarter worth approximately $236,000. SVB Wealth LLC bought a new stake in Klaviyo in the first quarter valued at approximately $299,000. Finally, Versor Investments LP purchased a new stake in shares of Klaviyo during the second quarter valued at approximately $309,000. 45.43% of the stock is currently owned by institutional investors.

Klaviyo Trading Up 1.6 %

Shares of NYSE:KVYO opened at $35.37 on Monday. Klaviyo has a 52-week low of $21.26 and a 52-week high of $36.47. The business’s 50 day simple moving average is $31.10 and its two-hundred day simple moving average is $26.43.

Klaviyo (NYSE:KVYO) last posted its earnings results on Wednesday, August 7th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.05. The company had revenue of $222.21 million for the quarter, compared to analyst estimates of $212.34 million. Klaviyo had a negative net margin of 42.15% and a negative return on equity of 32.19%. The firm’s revenue was up 35.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.09 EPS. On average, research analysts expect that Klaviyo will post -0.01 earnings per share for the current fiscal year.

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.