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

Klaviyo, Inc. (NYSE:KVYO) has been given an average recommendation of “Moderate Buy” by the eighteen analysts that are covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $39.00.

Several research analysts have recently issued reports on KVYO shares. Macquarie reaffirmed a “neutral” rating and set a $36.00 price objective on shares of Klaviyo in a research report on Friday, November 8th. Cantor Fitzgerald increased their price target on shares of Klaviyo from $33.00 to $47.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Needham & Company LLC boosted their price objective on shares of Klaviyo from $40.00 to $46.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Robert W. Baird upped their target price on shares of Klaviyo from $42.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, Benchmark cut their price target on shares of Klaviyo from $42.00 to $40.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th.

Klaviyo Price Performance

Shares of NYSE:KVYO opened at $37.24 on Tuesday. The firm has a market capitalization of $10.04 billion, a PE ratio of -206.88 and a beta of 1.13. Klaviyo has a 1 year low of $21.26 and a 1 year high of $41.00. The firm’s 50-day moving average is $36.36 and its two-hundred day moving average is $29.76.

Klaviyo (NYSE:KVYO) last released its earnings results on Wednesday, November 6th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.11 by $0.04. The firm had revenue of $235.09 million during the quarter, compared to analysts’ expectations of $226.33 million. Klaviyo had a positive return on equity of 0.86% and a negative net margin of 5.23%. Klaviyo’s revenue for the quarter was up 33.7% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.24) EPS. Analysts expect that Klaviyo will post 0.03 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Amanda Whalen sold 10,000 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $29.72, for a total value of $297,200.00. Following the sale, the chief financial officer now directly owns 422,813 shares in the company, valued at $12,566,002.36. The trade was a 2.31 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Allen Chaves sold 130,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $31.85, for a total transaction of $4,140,500.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 354,269 shares of company stock worth $11,488,270. 53.24% of the stock is owned by company insiders.

Hedge Funds Weigh In On Klaviyo

Hedge funds have recently bought and sold shares of the stock. Advisors Asset Management Inc. increased 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 purchasing an additional 808 shares in the last quarter. nVerses Capital LLC purchased a new stake in shares of Klaviyo during the third quarter worth about $53,000. EntryPoint Capital LLC purchased a new stake in shares of Klaviyo during the first quarter worth about $71,000. West Tower Group LLC purchased a new stake in shares of Klaviyo during the third quarter worth about $177,000. Finally, Victory Capital Management Inc. purchased a new position in shares of Klaviyo during the third quarter valued at approximately $208,000. Hedge funds and other institutional investors own 45.43% of the company’s stock.

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.