Robert W. Baird Raises Klaviyo (NYSE:KVYO) Price Target to $42.00

Klaviyo (NYSE:KVYO) had its price target upped by equities research analysts at Robert W. Baird from $35.00 to $42.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Robert W. Baird’s price target would suggest a potential upside of 13.51% from the company’s previous close.

A number of other equities analysts have also issued reports on KVYO. Barclays upped their target price on Klaviyo from $29.00 to $32.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Benchmark assumed coverage on shares of Klaviyo in a report on Monday, September 30th. They issued a “buy” rating and a $42.00 price target on the stock. Cantor Fitzgerald raised their price objective on shares of Klaviyo from $31.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Needham & Company LLC reissued a “buy” rating and issued a $40.00 target price on shares of Klaviyo in a research report on Wednesday, September 4th. Finally, Piper Sandler increased their price target on shares of Klaviyo from $30.00 to $34.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, Klaviyo presently has an average rating of “Moderate Buy” and an average target price of $36.89.

Klaviyo Price Performance

Shares of KVYO stock opened at $37.00 on Thursday. The company’s fifty day moving average price is $32.15 and its two-hundred day moving average price is $26.76. The firm has a market capitalization of $9.87 billion and a P/E ratio of -26.24. Klaviyo has a 12 month low of $21.26 and a 12 month high of $37.64.

Klaviyo (NYSE:KVYO) last announced its earnings results on Wednesday, August 7th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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. Klaviyo had a negative return on equity of 32.19% and a negative net margin of 42.15%. The company’s revenue for the quarter was up 35.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.09 earnings per share. On average, sell-side analysts anticipate that Klaviyo will post -0.01 EPS for the current year.

Insiders Place Their Bets

In other news, major shareholder Jeff Fagnan purchased 9,485 shares of Klaviyo stock in a transaction dated Thursday, August 1st. The stock was bought at an average price of $26.43 per share, with a total value of $250,688.55. Following the completion of the acquisition, the insider now owns 9,485 shares in the company, valued at $250,688.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Klaviyo news, CFO Amanda Whalen sold 60,000 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $30.23, for a total value of $1,813,800.00. Following the completion of the transaction, the chief financial officer now owns 435,993 shares in the company, valued at approximately $13,180,068.39. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Jeff Fagnan purchased 9,485 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were acquired at an average cost of $26.43 per share, for a total transaction of $250,688.55. Following the acquisition, the insider now owns 9,485 shares of the company’s stock, valued at approximately $250,688.55. The disclosure for this purchase can be found here. Insiders have sold 853,363 shares of company stock valued at $26,937,202 over the last three months. Company insiders own 53.24% of the company’s stock.

Institutional Trading of Klaviyo

Several large investors have recently added to or reduced their stakes in the business. Janus Henderson Group PLC bought a new stake in shares of Klaviyo in the 1st quarter worth $662,000. Swiss National Bank acquired a new stake in shares of Klaviyo during the 1st quarter valued at $1,776,000. Claro Advisors LLC bought a new stake in shares of Klaviyo during the 1st quarter worth $23,510,000. Blair William & Co. IL grew its holdings in shares of Klaviyo by 1,234.0% in the 1st quarter. Blair William & Co. IL now owns 175,531 shares of the company’s stock worth $4,473,000 after acquiring an additional 162,373 shares during the last quarter. Finally, Salem Investment Counselors Inc. raised 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 purchasing an additional 1,450 shares during the period. 45.43% of the stock is currently owned by institutional investors and hedge funds.

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.