Klaviyo (NYSE:KVYO) Stock Price Down 2.8%

Klaviyo, Inc. (NYSE:KVYO) shares traded down 2.8% on Wednesday . The stock traded as low as $24.33 and last traded at $24.33. 21,785 shares were traded during mid-day trading, a decline of 98% from the average session volume of 1,182,918 shares. The stock had previously closed at $25.04.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Morgan Stanley cut their target price on shares of Klaviyo from $38.00 to $37.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 28th. FBN Securities assumed coverage on shares of Klaviyo in a report on Wednesday, March 20th. They issued an “outperform” rating and a $35.00 target price on the stock. KeyCorp assumed coverage on shares of Klaviyo in a report on Thursday, March 21st. They issued a “sector weight” rating on the stock. Piper Sandler reiterated an “overweight” rating and issued a $38.00 target price on shares of Klaviyo in a report on Wednesday, February 28th. Finally, The Goldman Sachs Group raised shares of Klaviyo from a “neutral” rating to a “buy” rating and set a $36.00 price objective for the company in a research report on Monday, February 5th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $37.60.

Klaviyo Price Performance

The business’s 50-day moving average is $26.85 and its two-hundred day moving average is $28.37.

Klaviyo (NYSE:KVYO) last released its earnings results on Tuesday, February 27th. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02. The business had revenue of $201.62 million during the quarter, compared to the consensus estimate of $196.02 million. On average, equities analysts forecast that Klaviyo, Inc. will post -0.27 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of KVYO. Summit Partners L P bought a new position in shares of Klaviyo in the 3rd quarter valued at about $1,708,162,000. Clearbridge Investments LLC acquired a new stake in shares of Klaviyo during the 3rd quarter worth about $64,316,000. JPMorgan Chase & Co. acquired a new stake in shares of Klaviyo during the 3rd quarter worth about $52,204,000. Vanguard Group Inc. acquired a new stake in shares of Klaviyo during the 3rd quarter worth about $49,833,000. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Klaviyo by 243.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,472,140 shares of the company’s stock worth $40,896,000 after buying an additional 1,042,902 shares during the last quarter. Institutional investors 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.