Klaviyo (NYSE:KVYO) Coverage Initiated at Macquarie

Macquarie initiated coverage on shares of Klaviyo (NYSE:KVYO) in a research note issued to investors on Thursday, Benzinga reports. The brokerage set a “neutral” rating and a $36.00 price target on the stock. Macquarie’s price objective would indicate a potential downside of 6.78% from the stock’s current price.

A number of other equities analysts have also issued reports on the company. Benchmark reissued a “buy” rating and issued a $42.00 price objective on shares of Klaviyo in a report on Thursday, October 24th. Robert W. Baird increased their target price on Klaviyo from $35.00 to $42.00 and gave the company an “outperform” rating in a report on Thursday, October 10th. Barclays boosted their price target on Klaviyo from $32.00 to $41.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Piper Sandler lifted their price target on Klaviyo from $34.00 to $45.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Finally, 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 note on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $37.29.

Klaviyo Trading Down 1.6 %

Klaviyo stock opened at $38.62 on Thursday. The stock has a market capitalization of $10.30 billion and a price-to-earnings ratio of -27.39. The stock has a 50 day moving average of $34.39 and a two-hundred day moving average of $27.99. Klaviyo has a twelve month low of $21.26 and a twelve month high of $39.92.

Klaviyo (NYSE:KVYO) last issued its earnings results on Wednesday, August 7th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.05. Klaviyo had a negative return on equity of 32.19% and a negative net margin of 42.15%. The firm had revenue of $222.21 million for the quarter, compared to analysts’ expectations of $212.34 million. During the same quarter last year, the firm earned $0.09 earnings per share. The firm’s revenue for the quarter was up 35.0% compared to the same quarter last year.

Insider Activity

In related news, CTO Allen Chaves sold 130,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $31.59, for a total value of $4,106,700.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Klaviyo news, major shareholder Summit Partners L. P sold 242,601 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $31.78, for a total transaction of $7,709,859.78. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CTO Allen Chaves sold 130,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $31.59, for a total value of $4,106,700.00. The disclosure for this sale can be found here. Insiders have sold a total of 871,477 shares of company stock valued at $27,610,861 in the last 90 days. 53.24% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KVYO. nVerses Capital LLC bought a new stake in shares of Klaviyo in the 3rd quarter valued at about $53,000. EntryPoint Capital LLC acquired a new stake in shares of Klaviyo during the 1st quarter worth approximately $71,000. SG Americas Securities LLC acquired a new stake in shares of Klaviyo during the 2nd quarter worth approximately $236,000. William Marsh Rice University acquired a new stake in shares of Klaviyo during the 3rd quarter worth approximately $245,000. Finally, Creative Planning acquired a new stake in Klaviyo in the 3rd quarter valued at $254,000. 45.43% of the stock is currently owned by 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.