Klaviyo (NYSE:KVYO) Hits New 1-Year High After Analyst Upgrade

Klaviyo, Inc. (NYSE:KVYO)’s share price hit a new 52-week high during mid-day trading on Monday after KeyCorp raised their price target on the stock from $42.00 to $45.00. KeyCorp currently has an overweight rating on the stock. Klaviyo traded as high as $41.48 and last traded at $41.45, with a volume of 1260827 shares changing hands. The stock had previously closed at $39.06.

Other research analysts also recently issued reports about the company. Wells Fargo & Company reissued a “buy” rating on shares of Klaviyo in a research note on Friday, October 18th. 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 on the stock. Robert W. Baird raised their price objective on Klaviyo from $42.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Piper Sandler raised their price objective on Klaviyo from $34.00 to $45.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Finally, Needham & Company LLC raised their price objective on Klaviyo from $40.00 to $46.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.69.

Insider Activity

In related news, insider Landon Edmond sold 40,000 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $34.56, for a total value of $1,382,400.00. Following the sale, the insider now owns 236,621 shares of the company’s stock, valued at $8,177,621.76. The trade was a 14.46 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Stephen Eric Rowland sold 18,114 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $37.19, for a total value of $673,659.66. Following the completion of the sale, the president now directly owns 192,488 shares in the company, valued at approximately $7,158,628.72. This represents a 8.60 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 127,650 shares of company stock worth $4,676,705. Company insiders own 53.24% of the company’s stock.

Institutional Trading of Klaviyo

Institutional investors have recently bought and sold shares of the stock. Whale Rock Capital Management LLC boosted its stake in Klaviyo by 608.9% in the third quarter. Whale Rock Capital Management LLC now owns 3,600,606 shares of the company’s stock worth $127,389,000 after purchasing an additional 3,092,725 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Klaviyo by 677.7% in the second quarter. Bank of New York Mellon Corp now owns 2,762,128 shares of the company’s stock worth $68,749,000 after purchasing an additional 2,406,973 shares in the last quarter. Glynn Capital Management LLC boosted its stake in Klaviyo by 19.7% in the second quarter. Glynn Capital Management LLC now owns 1,363,768 shares of the company’s stock worth $33,944,000 after purchasing an additional 224,461 shares in the last quarter. Claro Advisors LLC boosted its stake in Klaviyo by 38.7% in the second quarter. Claro Advisors LLC now owns 1,280,035 shares of the company’s stock worth $31,860,000 after purchasing an additional 357,355 shares in the last quarter. Finally, Millennium Management LLC boosted its stake in Klaviyo by 53.6% in the second quarter. Millennium Management LLC now owns 1,120,485 shares of the company’s stock worth $27,889,000 after purchasing an additional 390,849 shares in the last quarter. Institutional investors and hedge funds own 45.43% of the company’s stock.

Klaviyo Price Performance

The company has a market cap of $11.18 billion, a price-to-earnings ratio of -217.00 and a beta of 0.97. The business has a 50 day simple moving average of $37.41 and a 200 day simple moving average of $31.16.

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

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.