William Blair Reiterates “Outperform” Rating for Klaviyo (NYSE:KVYO)

Klaviyo (NYSE:KVYO)‘s stock had its “outperform” rating reiterated by equities research analysts at William Blair in a research report issued on Thursday,RTT News reports.

A number of other equities research analysts have also recently issued reports on the stock. Loop Capital boosted their target price on shares of Klaviyo from $45.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, December 23rd. Needham & Company LLC upped their price objective on shares of Klaviyo from $46.00 to $56.00 and gave the stock a “buy” rating in a research report on Thursday. KeyCorp increased their target price on shares of Klaviyo from $42.00 to $45.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Piper Sandler increased their target price on shares of Klaviyo from $50.00 to $53.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Wells Fargo & Company decreased their target price on shares of Klaviyo from $48.00 to $45.00 and set an “equal weight” rating for the company in a research report on Thursday. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $48.24.

Klaviyo Price Performance

Shares of KVYO traded down $4.09 during mid-day trading on Thursday, hitting $42.92. 2,779,264 shares of the company’s stock were exchanged, compared to its average volume of 1,183,244. The company has a market cap of $11.57 billion, a PE ratio of -237.51 and a beta of 0.60. Klaviyo has a 52 week low of $21.26 and a 52 week high of $49.55. The company has a 50-day simple moving average of $43.56 and a 200 day simple moving average of $37.75.

Klaviyo (NYSE:KVYO) last issued its earnings results on Wednesday, February 19th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.12). Klaviyo had a positive return on equity of 0.86% and a negative net margin of 5.23%. The firm had revenue of $270.16 million for the quarter, compared to analyst estimates of $257.24 million. On average, analysts anticipate that Klaviyo will post 0.03 earnings per share for the current year.

Insider Buying and Selling at Klaviyo

In other news, insider Landon Edmond sold 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $41.80, for a total value of $1,672,000.00. Following the completion of the sale, the insider now directly owns 298,607 shares of the company’s stock, valued at $12,481,772.60. This trade represents a 11.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Amanda Whalen sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $45.85, for a total value of $687,750.00. Following the completion of the sale, the chief financial officer now directly owns 376,820 shares of the company’s stock, valued at $17,277,197. The trade was a 3.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 114,536 shares of company stock worth $4,720,953 in the last quarter. 53.24% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Klaviyo

A number of institutional investors and hedge funds have recently modified their holdings of KVYO. Vanguard Group Inc. increased its holdings in Klaviyo by 9.1% during the 4th quarter. Vanguard Group Inc. now owns 7,721,855 shares of the company’s stock worth $318,449,000 after purchasing an additional 646,628 shares during the period. Whale Rock Capital Management LLC increased its holdings in shares of Klaviyo by 7.4% in the 4th quarter. Whale Rock Capital Management LLC now owns 3,868,451 shares of the company’s stock valued at $159,535,000 after acquiring an additional 267,845 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Klaviyo by 5.0% in the 4th quarter. Bank of New York Mellon Corp now owns 2,926,187 shares of the company’s stock valued at $120,676,000 after acquiring an additional 140,127 shares during the period. Clearbridge Investments LLC increased its holdings in shares of Klaviyo by 0.9% in the 4th quarter. Clearbridge Investments LLC now owns 2,168,336 shares of the company’s stock valued at $89,422,000 after acquiring an additional 19,567 shares during the period. Finally, Franklin Resources Inc. increased its holdings in shares of Klaviyo by 48.6% in the 4th quarter. Franklin Resources Inc. now owns 1,943,523 shares of the company’s stock valued at $80,151,000 after acquiring an additional 635,962 shares during the period. 45.43% of the stock is 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.