Klaviyo (NYSE:KVYO) Rating Reiterated by Benchmark

Klaviyo (NYSE:KVYO)‘s stock had its “buy” rating reissued by equities researchers at Benchmark in a research report issued to clients and investors on Thursday, Benzinga reports. They presently have a $42.00 price target on the stock. Benchmark’s price target would suggest a potential upside of 7.69% from the stock’s current price.

KVYO has been the topic of several other reports. Stifel Nicolaus began coverage on Klaviyo in a research report on Tuesday. They issued a “buy” rating and a $45.00 price objective on the stock. KeyCorp upgraded shares of Klaviyo from a “sector weight” rating to an “overweight” rating and set a $33.00 price target for the company in a report on Thursday, August 8th. Robert W. Baird raised their target price on shares of Klaviyo from $35.00 to $42.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. Piper Sandler boosted their price target on Klaviyo from $34.00 to $45.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Finally, Needham & Company LLC reissued a “buy” rating and set a $40.00 price target on shares of Klaviyo in a research note on Wednesday, September 4th. Two 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.com, Klaviyo currently has an average rating of “Moderate Buy” and a consensus price target of $37.38.

Klaviyo Stock Up 1.9 %

Shares of Klaviyo stock traded up $0.73 during trading on Thursday, reaching $39.00. The company’s stock had a trading volume of 177,252 shares, compared to its average volume of 1,127,502. The business has a 50 day moving average price of $33.68 and a 200-day moving average price of $27.47. The company has a market capitalization of $10.32 billion and a P/E ratio of -27.75. Klaviyo has a 12-month low of $21.26 and a 12-month high of $39.19.

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

Insiders Place Their Bets

In other news, President Stephen Eric Rowland sold 18,114 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $37.19, for a total transaction of $673,659.66. Following the completion of the transaction, the president now directly owns 192,488 shares in the company, valued at approximately $7,158,628.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, major shareholder Jeff Fagnan acquired 9,485 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was acquired at an average price of $26.43 per share, for a total transaction of $250,688.55. Following the completion of the acquisition, the insider now directly owns 9,485 shares in the company, valued at $250,688.55. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, President Stephen Eric Rowland sold 18,114 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $37.19, for a total value of $673,659.66. Following the transaction, the president now directly owns 192,488 shares of the company’s stock, valued at $7,158,628.72. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 871,477 shares of company stock worth $27,610,861. Insiders own 53.24% of the company’s stock.

Institutional Investors Weigh In On Klaviyo

Institutional investors and hedge funds have recently bought and sold shares of the business. Claro Advisors LLC acquired a new stake in Klaviyo during the first quarter valued at approximately $23,510,000. Capstone Investment Advisors LLC boosted its stake in shares of Klaviyo by 17.0% during the 1st quarter. Capstone Investment Advisors LLC now owns 146,368 shares of the company’s stock worth $3,729,000 after acquiring an additional 21,296 shares in the last quarter. Quantbot Technologies LP grew its holdings in shares of Klaviyo by 82.8% in the 1st quarter. Quantbot Technologies LP now owns 54,424 shares of the company’s stock worth $1,387,000 after acquiring an additional 24,651 shares during the last quarter. Wealthspire Advisors LLC acquired a new stake in shares of Klaviyo during the first quarter worth $364,000. Finally, Glynn Capital Management LLC lifted its holdings in shares of Klaviyo by 291.3% during the first quarter. Glynn Capital Management LLC now owns 1,139,307 shares of the company’s stock valued at $29,030,000 after purchasing an additional 848,152 shares during the last quarter. 45.43% of the stock is owned by institutional investors and hedge funds.

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.