Klaviyo (NYSE:KVYO) Price Target Cut to $40.00 by Analysts at Benchmark

Klaviyo (NYSE:KVYO) had its target price lowered by Benchmark from $42.00 to $40.00 in a research note published on Thursday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other brokerages also recently issued reports on KVYO. Piper Sandler upped their price objective on Klaviyo from $34.00 to $45.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Cantor Fitzgerald raised their price target on shares of Klaviyo from $31.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Barclays boosted their price objective on shares of Klaviyo from $32.00 to $41.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Robert W. Baird raised their target price on shares of Klaviyo from $35.00 to $42.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. Finally, Stifel Nicolaus started coverage on shares of Klaviyo in a research note on Tuesday, October 22nd. They issued a “buy” rating and a $45.00 target price for the company. Three investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.00.

Klaviyo Trading Down 1.3 %

Shares of KVYO opened at $33.35 on Thursday. Klaviyo has a 12-month low of $21.26 and a 12-month high of $41.00. The stock has a market cap of $8.89 billion, a P/E ratio of -185.28 and a beta of 1.13. The company has a 50-day moving average of $35.21 and a two-hundred day moving average of $28.74.

Klaviyo (NYSE:KVYO) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.04. Klaviyo had a positive return on equity of 0.86% and a negative net margin of 5.23%. The firm had revenue of $235.09 million during the quarter, compared to the consensus estimate of $226.33 million. During the same period in the previous year, the firm posted ($1.24) EPS. The company’s quarterly revenue was up 33.7% compared to the same quarter last year. As a group, analysts forecast that Klaviyo will post -0.01 EPS for the current fiscal year.

Insider Transactions at Klaviyo

In other news, President Stephen Eric Rowland sold 18,114 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $31.67, for a total transaction of $573,670.38. Following the completion of the sale, the president now owns 192,488 shares in the company, valued at approximately $6,096,094.96. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, President Stephen Eric Rowland sold 18,114 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $31.67, for a total transaction of $573,670.38. Following the completion of the sale, the president now directly owns 192,488 shares of the company’s stock, valued at approximately $6,096,094.96. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Amanda Whalen sold 10,000 shares of the stock in a transaction on Friday, October 4th. The shares were sold at an average price of $35.36, for a total value of $353,600.00. Following the completion of the sale, the chief financial officer now owns 422,813 shares of the company’s stock, valued at approximately $14,950,667.68. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 659,711 shares of company stock worth $21,036,946 in the last three months. 53.24% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp grew its holdings in Klaviyo by 677.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,762,128 shares of the company’s stock valued at $68,749,000 after purchasing an additional 2,406,973 shares in the last quarter. SpiderRock Advisors LLC boosted its position 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 buying an additional 471,500 shares during the last quarter. Mayflower Financial Advisors LLC grew its stake in shares of Klaviyo by 181.4% during the third quarter. Mayflower Financial Advisors LLC now owns 684,948 shares of the company’s stock valued at $24,233,000 after acquiring an additional 441,500 shares in the last quarter. Millennium Management LLC increased its position in shares of Klaviyo by 53.6% during the second quarter. Millennium Management LLC now owns 1,120,485 shares of the company’s stock worth $27,889,000 after acquiring an additional 390,849 shares during the last quarter. Finally, Claro Advisors LLC lifted its stake in shares of Klaviyo by 38.7% in the second quarter. Claro Advisors LLC now owns 1,280,035 shares of the company’s stock worth $31,860,000 after acquiring an additional 357,355 shares in the last quarter. 45.43% of the stock is owned by institutional investors and hedge funds.

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.