Klaviyo (NYSE:KVYO) Price Target Raised to $48.00 at Citigroup

Klaviyo (NYSE:KVYO) had its price target upped by equities researchers at Citigroup from $39.00 to $48.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Citigroup’s price objective would indicate a potential downside of 2.50% from the company’s previous close.

KVYO has been the topic of a number of other reports. Wells Fargo & Company boosted their target price on shares of Klaviyo from $37.00 to $41.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 7th. Morgan Stanley increased their price objective on Klaviyo from $38.00 to $47.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. Needham & Company LLC lifted their target price on Klaviyo from $40.00 to $46.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Robert W. Baird increased their price target on Klaviyo from $42.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Finally, Piper Sandler upped their price target on shares of Klaviyo from $45.00 to $50.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.88.

Klaviyo Stock Up 4.8 %

NYSE:KVYO opened at $49.23 on Tuesday. Klaviyo has a 52-week low of $21.26 and a 52-week high of $49.43. The firm has a market cap of $13.27 billion, a P/E ratio of -273.50 and a beta of 0.60. The business’s 50-day moving average price is $42.17 and its 200 day moving average price is $36.61.

Insider Buying and Selling at Klaviyo

In related news, President Stephen Eric Rowland sold 4,536 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $40.04, for a total value of $181,621.44. Following the transaction, the president now directly owns 260,403 shares of the company’s stock, valued at approximately $10,426,536.12. This trade represents a 1.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 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 sale, the chief financial officer now directly owns 376,820 shares of the company’s stock, valued at $17,277,197. The trade was a 3.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 174,072 shares of company stock worth $6,778,517 over the last ninety days. 53.24% of the stock is currently owned by insiders.

Institutional Trading of Klaviyo

A number of institutional investors and hedge funds have recently modified their holdings of KVYO. Advisors Asset Management Inc. raised its holdings in Klaviyo by 145.6% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company’s stock worth $48,000 after acquiring an additional 808 shares during the period. nVerses Capital LLC bought a new position in shares of Klaviyo in the third quarter worth about $53,000. West Tower Group LLC acquired a new position in shares of Klaviyo during the 3rd quarter worth about $177,000. SBI Securities Co. Ltd. bought a new stake in Klaviyo during the 4th quarter valued at approximately $196,000. Finally, US Bancorp DE acquired a new stake in Klaviyo in the 4th quarter valued at approximately $199,000. 45.43% of the stock is currently owned by institutional investors and hedge funds.

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.