Mizuho Forecasts Strong Price Appreciation for Klaviyo (NYSE:KVYO) Stock

Klaviyo (NYSE:KVYO) had its price objective lifted by research analysts at Mizuho from $42.00 to $52.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Mizuho’s price target would indicate a potential upside of 24.39% from the company’s previous close.

Several other equities analysts have also recently issued reports on the stock. Loop Capital upped their target price on shares of Klaviyo from $45.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, December 23rd. Scotiabank upped their price target on shares of Klaviyo from $35.00 to $45.00 and gave the company a “sector perform” rating in a research report on Wednesday, January 29th. Canaccord Genuity Group upped their price target on shares of Klaviyo from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday. Robert W. Baird upped their price target on shares of Klaviyo from $52.00 to $54.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Wells Fargo & Company reduced their price target on shares of Klaviyo from $48.00 to $45.00 and set an “equal weight” rating for the company in a research report on Thursday. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $48.24.

Klaviyo Price Performance

NYSE KVYO traded down $5.20 during trading hours on Thursday, hitting $41.80. The company’s stock had a trading volume of 2,129,575 shares, compared to its average volume of 1,164,383. The company has a market cap of $11.27 billion, a P/E ratio of -232.54 and a beta of 0.60. The company’s 50 day simple moving average is $43.56 and its two-hundred day simple moving average is $37.75. Klaviyo has a 12 month low of $21.26 and a 12 month high of $49.55.

Klaviyo (NYSE:KVYO) last posted its earnings results on Wednesday, February 19th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.12). The company had revenue of $270.16 million for the quarter, compared to the consensus estimate of $257.24 million. Klaviyo had a negative net margin of 5.23% and a positive return on equity of 0.86%. As a group, research analysts predict that Klaviyo will post 0.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Klaviyo news, insider Landon Edmond sold 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $41.80, for a total value of $1,672,000.00. Following the completion of the transaction, the insider now directly owns 298,607 shares in the company, valued at $12,481,772.60. This represents a 11.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Amanda Whalen sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $45.85, for a total value of $687,750.00. Following the completion of the transaction, the chief financial officer now owns 376,820 shares of the company’s stock, valued at $17,277,197. The trade was a 3.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 114,536 shares of company stock worth $4,720,953 in the last three months. 53.24% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of KVYO. Whale Rock Capital Management LLC boosted its position in shares of Klaviyo by 608.9% during the 3rd quarter. Whale Rock Capital Management LLC now owns 3,600,606 shares of the company’s stock valued at $127,389,000 after acquiring an additional 3,092,725 shares during the last quarter. Focus Partners Wealth bought a new position in shares of Klaviyo during the 4th quarter valued at approximately $38,870,000. D. E. Shaw & Co. Inc. boosted its position in shares of Klaviyo by 195.4% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,310,227 shares of the company’s stock valued at $54,034,000 after acquiring an additional 866,749 shares during the last quarter. Lord Abbett & CO. LLC bought a new position in shares of Klaviyo during the 4th quarter valued at approximately $30,851,000. Finally, Ameriprise Financial Inc. boosted its position in shares of Klaviyo by 229.5% during the 4th quarter. Ameriprise Financial Inc. now owns 982,134 shares of the company’s stock valued at $40,507,000 after acquiring an additional 684,026 shares during the last quarter. 45.43% of the stock is currently owned by institutional investors.

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.