Barclays Forecasts Strong Price Appreciation for Klaviyo (NYSE:KVYO) Stock

Klaviyo (NYSE:KVYO) had its price target upped by Barclays from $35.00 to $38.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other equities research analysts have also commented on KVYO. Needham & Company LLC dropped their target price on Klaviyo from $56.00 to $45.00 and set a “buy” rating on the stock in a research report on Wednesday. William Blair reissued an “outperform” rating on shares of Klaviyo in a report on Thursday, February 20th. Truist Financial cut their price target on shares of Klaviyo from $55.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday, April 16th. The Goldman Sachs Group lifted their target price on shares of Klaviyo from $45.00 to $51.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Finally, Benchmark lifted their price target on Klaviyo from $40.00 to $51.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $43.11.

Klaviyo Price Performance

Shares of KVYO stock opened at $33.38 on Wednesday. The stock’s 50-day moving average is $30.54 and its 200 day moving average is $37.38. Klaviyo has a 1-year low of $21.26 and a 1-year high of $49.55. The company has a market cap of $9.12 billion, a P/E ratio of -185.44 and a beta of 1.35.

Klaviyo (NYSE:KVYO) last announced its earnings results on Tuesday, May 6th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.02. The company had revenue of $279.83 million for the quarter, compared to analyst estimates of $267.79 million. Klaviyo had a positive return on equity of 0.89% and a negative net margin of 4.92%. The firm’s quarterly revenue was up 33.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.13 EPS. On average, analysts anticipate that Klaviyo will post 0.04 EPS for the current year.

Insider Transactions at Klaviyo

In other news, major shareholder Jeff Fagnan acquired 3,900 shares of the company’s stock in a transaction on Wednesday, April 9th. The shares were bought at an average cost of $25.77 per share, with a total value of $100,503.00. Following the transaction, the insider now owns 3,900 shares in the company, valued at approximately $100,503. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Amanda Whalen sold 15,000 shares of the business’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $33.54, for a total transaction of $503,100.00. Following the transaction, the chief financial officer now owns 349,623 shares of the company’s stock, valued at approximately $11,726,355.42. The trade was a 4.11 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,073,770 shares of company stock valued at $67,259,606. 53.24% of the stock is currently owned by corporate insiders.

Institutional Trading of Klaviyo

Institutional investors have recently modified their holdings of the stock. Barclays PLC lifted its holdings in shares of Klaviyo by 1,202.0% during the third quarter. Barclays PLC now owns 12,825 shares of the company’s stock worth $453,000 after purchasing an additional 11,840 shares during the period. Capital Investment Advisors LLC purchased a new position in Klaviyo during the fourth quarter worth $621,000. Oak Ridge Investments LLC acquired a new stake in shares of Klaviyo during the fourth quarter valued at $1,646,000. SG Americas Securities LLC raised its stake in Klaviyo by 21.4% in the 4th quarter. SG Americas Securities LLC now owns 10,929 shares of the company’s stock valued at $451,000 after purchasing an additional 1,923 shares during the last quarter. Finally, Renaissance Capital LLC lifted its holdings in Klaviyo by 56.4% in the 4th quarter. Renaissance Capital LLC now owns 122,646 shares of the company’s stock valued at $5,058,000 after purchasing an additional 44,245 shares in the last quarter. 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.