KeyCorp Boosts Klaviyo (NYSE:KVYO) Price Target to $45.00

Klaviyo (NYSE:KVYO) had its price objective lifted by KeyCorp from $42.00 to $45.00 in a report released on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.

Other analysts have also recently issued reports about the company. Cantor Fitzgerald boosted their price target on Klaviyo from $33.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Barclays increased their target price on Klaviyo from $32.00 to $41.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Piper Sandler lifted their price target on Klaviyo from $34.00 to $45.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Canaccord Genuity Group increased their price objective on shares of Klaviyo from $32.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Benchmark cut their price target on shares of Klaviyo from $42.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, Klaviyo has a consensus rating of “Moderate Buy” and an average target price of $39.69.

Klaviyo Price Performance

Shares of KVYO opened at $39.06 on Friday. The company has a 50-day simple moving average of $37.41 and a two-hundred day simple moving average of $31.05. The firm has a market capitalization of $10.53 billion, a PE ratio of -217.00 and a beta of 0.97. Klaviyo has a one year low of $21.26 and a one year high of $41.00.

Klaviyo (NYSE:KVYO) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.04. Klaviyo had a positive return on equity of 0.86% and a negative net margin of 5.23%. The business had revenue of $235.09 million during the quarter, compared to the consensus estimate of $226.33 million. During the same quarter in the prior year, the company earned ($1.24) earnings per share. The firm’s quarterly revenue was up 33.7% compared to the same quarter last year. Analysts expect that Klaviyo will post 0.03 EPS for the current fiscal year.

Insider Activity

In other news, President Stephen Eric Rowland sold 18,114 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $31.24, for a total value of $565,881.36. Following the transaction, the president now owns 192,488 shares of the company’s stock, valued at $6,013,325.12. This trade represents a 8.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Allen Chaves sold 130,000 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $31.85, for a total transaction of $4,140,500.00. The disclosure for this sale can be found here. Insiders sold 275,764 shares of company stock valued at $9,383,087 in the last quarter. 53.24% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Advisors Asset Management Inc. increased its stake in Klaviyo by 145.6% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company’s stock worth $48,000 after buying an additional 808 shares in the last quarter. nVerses Capital LLC purchased a new stake in shares of Klaviyo during the third quarter worth about $53,000. West Tower Group LLC bought a new stake in Klaviyo during the 3rd quarter valued at approximately $177,000. Victory Capital Management Inc. purchased a new position in Klaviyo in the 3rd quarter worth approximately $208,000. Finally, SG Americas Securities LLC bought a new position in Klaviyo in the 2nd quarter worth approximately $236,000. 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.