Stifel Nicolaus Begins Coverage on Klaviyo (NYSE:KVYO)

Stifel Nicolaus started coverage on shares of Klaviyo (NYSE:KVYO) in a research note published on Tuesday, MarketBeat reports. The brokerage issued a buy rating and a $45.00 target price on the stock.

A number of other equities analysts have also recently issued reports on the stock. KeyCorp upgraded shares of Klaviyo from a “sector weight” rating to an “overweight” rating and set a $33.00 target price for the company in a research report on Thursday, August 8th. Barclays upped their target price on Klaviyo from $32.00 to $41.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Cantor Fitzgerald raised their price target on Klaviyo from $31.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Needham & Company LLC reissued a “buy” rating and issued a $40.00 price target on shares of Klaviyo in a report on Wednesday, September 4th. Finally, Robert W. Baird increased their price objective on Klaviyo from $35.00 to $42.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, Klaviyo presently has an average rating of “Moderate Buy” and a consensus target price of $37.38.

Klaviyo Trading Up 0.9 %

KVYO stock opened at $39.03 on Tuesday. The firm has a 50 day moving average of $33.82 and a 200-day moving average of $27.55. The company has a market cap of $10.33 billion and a price-to-earnings ratio of -27.68. Klaviyo has a 12-month low of $21.26 and a 12-month high of $39.77.

Klaviyo (NYSE:KVYO) last posted its earnings results on Wednesday, August 7th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.05. Klaviyo had a negative return on equity of 32.19% and a negative net margin of 42.15%. The company had revenue of $222.21 million for the quarter, compared to the consensus estimate of $212.34 million. During the same period in the previous year, the business earned $0.09 earnings per share. Klaviyo’s quarterly revenue was up 35.0% compared to the same quarter last year.

Insider Activity

In related news, President Stephen Eric Rowland sold 18,114 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $31.67, for a total value of $573,670.38. Following the transaction, the president now owns 192,488 shares in the company, valued at approximately $6,096,094.96. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Klaviyo news, President Stephen Eric Rowland sold 18,114 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $31.67, for a total value of $573,670.38. Following the transaction, the president now directly owns 192,488 shares of the company’s stock, valued at $6,096,094.96. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Summit Partners L. P sold 1,300 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $31.64, for a total value of $41,132.00. The disclosure for this sale can be found here. Insiders have sold 871,477 shares of company stock valued at $27,610,861 in the last three months. Corporate insiders own 53.24% of the company’s stock.

Institutional Trading of Klaviyo

Hedge funds have recently made changes to their positions in the company. nVerses Capital LLC acquired a new stake in Klaviyo during the 3rd quarter valued at $53,000. EntryPoint Capital LLC acquired a new stake in shares of Klaviyo during the first quarter valued at about $71,000. SG Americas Securities LLC acquired a new stake in shares of Klaviyo during the second quarter valued at about $236,000. William Marsh Rice University purchased a new stake in shares of Klaviyo during the third quarter worth about $245,000. Finally, Creative Planning acquired a new position in shares of Klaviyo in the third quarter worth about $254,000. Hedge funds and other institutional investors own 45.43% of the company’s stock.

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.