Analysts Set Klaviyo, Inc. (NYSE:KVYO) Price Target at $35.65

Klaviyo, Inc. (NYSE:KVYO) has been assigned a consensus rating of “Moderate Buy” from the eighteen brokerages that are covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $35.65.

A number of brokerages have recently issued reports on KVYO. Robert W. Baird dropped their target price on Klaviyo from $40.00 to $35.00 and set an “outperform” rating for the company in a report on Thursday, May 9th. Piper Sandler lifted their price objective on Klaviyo from $30.00 to $34.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. KeyCorp upgraded shares of Klaviyo from a “sector weight” rating to an “overweight” rating and set a $33.00 target price on the stock in a research note on Thursday, August 8th. Canaccord Genuity Group cut their price target on shares of Klaviyo from $37.00 to $32.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Finally, Cantor Fitzgerald upped their price objective 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.

Klaviyo Stock Down 0.2 %

Shares of KVYO stock opened at $31.78 on Friday. Klaviyo has a one year low of $21.26 and a one year high of $39.47. The stock has a fifty day moving average price of $25.13 and a 200 day moving average price of $25.16.

Klaviyo (NYSE:KVYO) last issued its earnings results on Wednesday, August 7th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.05. The business had revenue of $222.21 million for the quarter, compared to analyst estimates of $212.34 million. During the same quarter last year, the firm posted $0.09 earnings per share. Klaviyo’s revenue was up 35.0% on a year-over-year basis. On average, research analysts forecast that Klaviyo will post -0.11 EPS for the current fiscal year.

Insider Activity

In related news, Director Jennifer Ceran sold 13,000 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $24.65, for a total value of $320,450.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director Jennifer Ceran sold 13,000 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $24.65, for a total value of $320,450.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Allen Chaves sold 130,000 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $31.59, for a total value of $4,106,700.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 242,880 shares of company stock valued at $7,468,036. 53.24% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Salem Investment Counselors Inc. boosted its position in shares of Klaviyo by 161.1% during the first quarter. Salem Investment Counselors Inc. now owns 2,350 shares of the company’s stock worth $60,000 after buying an additional 1,450 shares during the period. EntryPoint Capital LLC bought a new position in shares of Klaviyo during the 1st quarter worth approximately $71,000. New York State Common Retirement Fund raised its holdings in shares of Klaviyo by 191.0% in the fourth quarter. New York State Common Retirement Fund now owns 5,485 shares of the company’s stock valued at $152,000 after purchasing an additional 3,600 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Klaviyo in the second quarter worth $236,000. Finally, SVB Wealth LLC acquired a new position in Klaviyo during the first quarter worth $299,000. 45.43% of the stock is currently owned by institutional investors.

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.