Klaviyo’s (KVYO) Outperform Rating Reaffirmed at William Blair

Klaviyo (NYSE:KVYO)‘s stock had its “outperform” rating reiterated by equities research analysts at William Blair in a note issued to investors on Thursday,RTT News reports.

Other analysts have also issued reports about the stock. Cantor Fitzgerald increased their price target on shares of Klaviyo from $33.00 to $47.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Barclays raised their target price on shares of Klaviyo from $32.00 to $41.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Stifel Nicolaus initiated coverage on Klaviyo in a research report on Tuesday, October 22nd. They set a “buy” rating and a $45.00 price target on the stock. Robert W. Baird raised their price objective on Klaviyo from $42.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Finally, Needham & Company LLC upped their target price on Klaviyo from $40.00 to $46.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $39.69.

Klaviyo Trading Up 1.5 %

Shares of KVYO traded up $0.65 during mid-day trading on Thursday, hitting $42.64. The company’s stock had a trading volume of 218,939 shares, compared to its average volume of 1,190,718. The company’s 50-day moving average is $37.82 and its 200-day moving average is $31.51. Klaviyo has a 52-week low of $21.26 and a 52-week high of $44.38. The firm has a market capitalization of $11.50 billion, a price-to-earnings ratio of -236.88 and a beta of 0.97.

Klaviyo (NYSE:KVYO) last announced its earnings results on Wednesday, November 6th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.04. The business had revenue of $235.09 million for the quarter, compared to analysts’ expectations of $226.33 million. Klaviyo had a positive return on equity of 0.86% and a negative net margin of 5.23%. The business’s revenue for the quarter was up 33.7% on a year-over-year basis. During the same quarter last year, the firm earned ($1.24) EPS. As a group, sell-side analysts predict that Klaviyo will post 0.03 earnings per share for the current fiscal year.

Insider Transactions at Klaviyo

In other news, CFO Amanda Whalen sold 1,050 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $40.07, for a total transaction of $42,073.50. Following the sale, the chief financial officer now directly owns 395,616 shares of the company’s stock, valued at $15,852,333.12. This represents a 0.26 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Landon Edmond sold 40,000 shares of Klaviyo stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $34.56, for a total value of $1,382,400.00. Following the completion of the transaction, the insider now owns 236,621 shares of the company’s stock, valued at approximately $8,177,621.76. This represents a 14.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 127,650 shares of company stock valued at $4,676,705 in the last 90 days. 53.24% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Klaviyo

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Lisanti Capital Growth LLC purchased a new position in Klaviyo during the third quarter valued at $5,513,000. Pier 88 Investment Partners LLC acquired a new stake in Klaviyo in the 3rd quarter worth about $966,000. SpiderRock Advisors LLC boosted 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 worth $17,743,000 after buying an additional 471,500 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new stake in Klaviyo during the 3rd quarter worth approximately $5,113,000. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Klaviyo in the second quarter valued at approximately $747,000. Hedge funds and other institutional investors own 45.43% of the company’s stock.

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.