Klaviyo (NYSE:KVYO) Price Target Raised to $47.00 at Cantor Fitzgerald

Klaviyo (NYSE:KVYO) had its target price increased by Cantor Fitzgerald from $33.00 to $47.00 in a report published on Thursday morning,Benzinga reports. Cantor Fitzgerald currently has an overweight rating on the stock.

A number of other brokerages have also recently weighed in on KVYO. Barclays lifted their price objective on Klaviyo from $32.00 to $41.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Macquarie assumed coverage on Klaviyo in a report on Thursday, October 31st. They issued a “neutral” rating and a $36.00 price target for the company. Stifel Nicolaus started coverage on Klaviyo in a research note on Tuesday, October 22nd. They issued a “buy” rating and a $45.00 price objective for the company. Robert W. Baird upped their target price on Klaviyo from $35.00 to $42.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. Finally, Benchmark cut their price objective on shares of Klaviyo from $42.00 to $40.00 and set a “buy” rating for the company in a research report on Thursday. Three equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $39.00.

Klaviyo Stock Performance

Klaviyo stock traded down $0.43 during mid-day trading on Thursday, reaching $33.35. 2,281,747 shares of the company were exchanged, compared to its average volume of 1,162,142. The business has a fifty day moving average of $35.17 and a 200 day moving average of $28.59. The firm has a market cap of $8.89 billion, a P/E ratio of -23.65 and a beta of 1.13. Klaviyo has a 12-month low of $21.26 and a 12-month high of $41.00.

Klaviyo (NYSE:KVYO) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.05. The company had revenue of $222.21 million during the quarter, compared to the consensus estimate of $212.34 million. Klaviyo had a negative return on equity of 32.19% and a negative net margin of 42.15%. Klaviyo’s revenue for the quarter was up 35.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.09 earnings per share. Sell-side analysts predict that Klaviyo will post -0.01 EPS for the current year.

Insider Transactions at Klaviyo

In other news, CTO Allen Chaves sold 130,000 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $31.59, for a total transaction of $4,106,700.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Klaviyo news, major shareholder Summit Partners L. P sold 242,601 shares of Klaviyo stock in a transaction on Friday, August 16th. The stock was sold at an average price of $31.78, for a total transaction of $7,709,859.78. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CTO Allen Chaves sold 130,000 shares of the stock in a transaction on Monday, August 12th. The stock was 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 ninety days, insiders have sold 789,711 shares of company stock worth $25,143,646. 53.24% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Klaviyo

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Quantbot Technologies LP lifted its position in Klaviyo by 82.8% in the first quarter. Quantbot Technologies LP now owns 54,424 shares of the company’s stock worth $1,387,000 after purchasing an additional 24,651 shares during the period. Wealthspire Advisors LLC bought a new position in Klaviyo during the first quarter valued at about $364,000. Swiss National Bank acquired a new position in Klaviyo during the first quarter worth about $1,776,000. Blair William & Co. IL raised its position in Klaviyo by 1,234.0% in the first 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 in the last quarter. Finally, Cynosure Group LLC bought a new stake in Klaviyo in the first quarter worth about $1,344,000. 45.43% of the stock is currently owned by institutional investors.

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.