Cantor Fitzgerald Upgrades Klaviyo (NYSE:KVYO) to “Overweight”

Klaviyo (NYSE:KVYO) was upgraded by analysts at Cantor Fitzgerald to an “overweight” rating in a report issued on Tuesday, Marketbeat Ratings reports. The brokerage presently has a $48.00 price target on the stock. Cantor Fitzgerald’s price objective indicates a potential upside of 41.30% from the stock’s current price.

Several other equities analysts have also issued reports on the stock. Morgan Stanley decreased their price target on shares of Klaviyo from $50.00 to $34.00 and set an “equal weight” rating for the company in a report on Wednesday, April 16th. Mizuho lowered their price target on Klaviyo from $52.00 to $40.00 and set an “outperform” rating for the company in a report on Tuesday, April 15th. Citigroup increased their price target on Klaviyo from $39.00 to $48.00 and gave the stock a “neutral” rating in a report on Tuesday, February 11th. Stephens started coverage on Klaviyo in a report on Wednesday, March 19th. They issued an “overweight” rating and a $43.00 price target for the company. Finally, Robert W. Baird dropped their target price on shares of Klaviyo from $54.00 to $37.00 and set an “outperform” rating on the stock in a report on Wednesday, April 23rd. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $42.79.

Klaviyo Trading Up 0.2%

NYSE:KVYO opened at $33.97 on Tuesday. Klaviyo has a 1-year low of $21.26 and a 1-year high of $49.55. The business’s 50-day moving average price is $30.68 and its two-hundred day moving average price is $36.98. The firm has a market capitalization of $10.09 billion, a price-to-earnings ratio of -188.72 and a beta of 1.35.

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

Insider Activity

In related news, major shareholder Summit Partners L. P sold 4,000,000 shares of the business’s stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $33.00, for a total transaction of $132,000,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Stephen Eric Rowland sold 36,710 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $35.08, for a total value of $1,287,786.80. Following the transaction, the president now directly owns 246,254 shares in the company, valued at $8,638,590.32. The trade was a 12.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,124,030 shares of company stock valued at $201,016,032. 49.92% of the stock is owned by insiders.

Institutional Trading of Klaviyo

Hedge funds have recently modified their holdings of the stock. Focus Partners Wealth acquired a new position in Klaviyo in the 4th quarter valued at $38,870,000. D. E. Shaw & Co. Inc. grew its holdings in Klaviyo by 195.4% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,310,227 shares of the company’s stock valued at $54,034,000 after buying an additional 866,749 shares in the last quarter. Lord Abbett & CO. LLC grew its holdings in Klaviyo by 105.6% in the 1st quarter. Lord Abbett & CO. LLC now owns 1,538,220 shares of the company’s stock valued at $46,546,000 after buying an additional 790,146 shares in the last quarter. Vanguard Group Inc. grew its holdings in Klaviyo by 9.7% in the 1st quarter. Vanguard Group Inc. now owns 8,467,933 shares of the company’s stock valued at $256,240,000 after buying an additional 746,078 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in Klaviyo by 229.5% in the 4th quarter. Ameriprise Financial Inc. now owns 982,134 shares of the company’s stock valued at $40,507,000 after buying an additional 684,026 shares in the last quarter. 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.