Klaviyo (NYSE:KVYO) Given New $51.00 Price Target at Benchmark

Klaviyo (NYSE:KVYO) had its price objective boosted by Benchmark from $40.00 to $51.00 in a report published on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities analysts have also commented on the stock. Stifel Nicolaus assumed coverage on shares of Klaviyo in a research report on Tuesday, October 22nd. They issued a “buy” rating and a $45.00 price objective for the company. Robert W. Baird increased their price objective on shares of Klaviyo from $42.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Scotiabank increased their price target on shares of Klaviyo from $35.00 to $45.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 29th. Loop Capital increased their price target on shares of Klaviyo from $45.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, December 23rd. Finally, Wells Fargo & Company increased their price target on shares of Klaviyo from $41.00 to $48.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 12th. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Klaviyo has an average rating of “Moderate Buy” and a consensus target price of $44.94.

Klaviyo Stock Performance

KVYO stock opened at $46.94 on Wednesday. The firm has a market cap of $12.66 billion, a price-to-earnings ratio of -260.76 and a beta of 0.60. The firm has a 50-day simple moving average of $43.56 and a two-hundred day simple moving average of $37.75. Klaviyo has a one year low of $21.26 and a one year high of $49.55.

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

Insider Transactions at Klaviyo

In related news, CFO Amanda Whalen sold 1,050 shares of Klaviyo stock in a transaction on Monday, December 9th. The shares were sold at an average price of $40.07, for a total value of $42,073.50. Following the sale, the chief financial officer now owns 395,616 shares of the company’s stock, valued at approximately $15,852,333.12. This trade represents a 0.26 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Stephen Eric Rowland sold 4,536 shares of Klaviyo stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $40.04, for a total transaction of $181,621.44. Following the completion of the sale, the president now directly owns 260,403 shares in the company, valued at $10,426,536.12. This represents a 1.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 114,536 shares of company stock valued at $4,720,953 in the last 90 days. 53.24% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Klaviyo

A number of institutional investors have recently added to or reduced their stakes in KVYO. Creative Planning purchased a new position in Klaviyo in the 3rd quarter valued at $254,000. SpiderRock Advisors LLC lifted its holdings in Klaviyo by 1,571.7% in the 3rd quarter. SpiderRock Advisors LLC now owns 501,500 shares of the company’s stock valued at $17,743,000 after purchasing an additional 471,500 shares in the last quarter. Mayflower Financial Advisors LLC lifted its holdings in Klaviyo by 181.4% in the 3rd quarter. Mayflower Financial Advisors LLC now owns 684,948 shares of the company’s stock valued at $24,233,000 after purchasing an additional 441,500 shares in the last quarter. Lisanti Capital Growth LLC purchased a new position in Klaviyo in the 3rd quarter valued at $5,513,000. Finally, Aigen Investment Management LP purchased a new position in Klaviyo in the 3rd quarter valued at $335,000. Institutional investors and hedge funds 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.