Klaviyo (NYSE:KVYO) Given New $50.00 Price Target at Canaccord Genuity Group

Klaviyo (NYSE:KVYO) had its price objective increased by Canaccord Genuity Group from $40.00 to $50.00 in a research note issued to investors on Thursday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other brokerages also recently commented on KVYO. Needham & Company LLC upped their target price on shares of Klaviyo from $46.00 to $56.00 and gave the stock a “buy” rating in a research note on Thursday. Morgan Stanley increased their price objective on shares of Klaviyo from $47.00 to $50.00 and gave the company an “equal weight” rating in a research note on Thursday. William Blair reiterated an “outperform” rating on shares of Klaviyo in a research note on Thursday, December 19th. Citigroup increased their price objective on shares of Klaviyo from $39.00 to $48.00 and gave the company a “neutral” rating in a research note on Tuesday, February 11th. Finally, KeyCorp increased their price objective on shares of Klaviyo from $42.00 to $45.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $49.44.

Klaviyo Stock Performance

Shares of KVYO stock opened at $44.23 on Thursday. The company’s 50-day simple moving average is $43.66 and its two-hundred day simple moving average is $37.80. Klaviyo has a one year low of $21.26 and a one year high of $49.55.

Klaviyo (NYSE:KVYO) last issued its earnings results on Wednesday, February 19th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.12). The company had revenue of $270.16 million during the quarter, compared to the consensus estimate of $257.24 million. Klaviyo had a positive return on equity of 0.90% and a negative net margin of 4.92%. On average, analysts anticipate that Klaviyo will post 0.04 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, President Stephen Eric Rowland sold 4,536 shares of the firm’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $40.04, for a total transaction of $181,621.44. Following the completion of the transaction, the president now owns 260,403 shares of the company’s stock, valued at $10,426,536.12. This trade represents a 1.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Amanda Whalen sold 15,000 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $45.85, for a total transaction of $687,750.00. Following the transaction, the chief financial officer now directly owns 376,820 shares of the company’s stock, valued at approximately $17,277,197. This trade represents a 3.83 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 114,536 shares of company stock valued at $4,720,953. Insiders own 53.24% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Klaviyo by 9.1% during the fourth 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 last quarter. Whale Rock Capital Management LLC raised its holdings in shares of Klaviyo by 7.4% during the fourth quarter. Whale Rock Capital Management LLC now owns 3,868,451 shares of the company’s stock worth $159,535,000 after purchasing an additional 267,845 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Klaviyo by 5.0% during the fourth quarter. Bank of New York Mellon Corp now owns 2,926,187 shares of the company’s stock worth $120,676,000 after purchasing an additional 140,127 shares during the last quarter. Clearbridge Investments LLC raised its holdings in shares of Klaviyo by 0.9% during the fourth quarter. Clearbridge Investments LLC now owns 2,168,336 shares of the company’s stock worth $89,422,000 after purchasing an additional 19,567 shares during the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of Klaviyo by 48.6% during the fourth quarter. Franklin Resources Inc. now owns 1,943,523 shares of the company’s stock worth $80,151,000 after purchasing an additional 635,962 shares during the last quarter. Hedge funds and other institutional investors own 45.43% of the company’s stock.

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.