KeyCorp Has Lowered Expectations for Klaviyo (NYSE:KVYO) Stock Price

Klaviyo (NYSE:KVYO) had its price target lowered by analysts at KeyCorp from $50.00 to $45.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. KeyCorp’s price objective points to a potential upside of 47.97% from the stock’s current price.

Other equities research analysts also recently issued reports about the company. Weiss Ratings started coverage on Klaviyo in a research note on Saturday, November 1st. They set a “sell (d-)” rating for the company. Needham & Company LLC reiterated a “buy” rating and set a $45.00 price target on shares of Klaviyo in a report on Friday, September 26th. Morgan Stanley upgraded Klaviyo from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $40.00 to $50.00 in a research note on Friday, September 19th. Wall Street Zen cut shares of Klaviyo from a “buy” rating to a “hold” rating in a research note on Sunday, August 17th. Finally, Jefferies Financial Group upgraded shares of Klaviyo to a “strong-buy” rating in a research report on Wednesday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $43.00.

Klaviyo Price Performance

KVYO traded up $1.61 on Thursday, reaching $30.41. 6,609,831 shares of the company traded hands, compared to its average volume of 3,125,963. The company has a market cap of $9.12 billion, a price-to-earnings ratio of -126.71 and a beta of 1.26. The stock’s 50 day moving average price is $28.73 and its 200-day moving average price is $31.29. Klaviyo has a 52-week low of $23.44 and a 52-week high of $49.55.

Klaviyo (NYSE:KVYO) last issued its earnings results on Thursday, September 25th. The company reported $0.16 earnings per share (EPS) for the quarter. Klaviyo had a negative net margin of 5.70% and a negative return on equity of 1.00%. The company had revenue of $293.12 million during the quarter. As a group, equities research analysts forecast that Klaviyo will post 0.04 earnings per share for the current fiscal year.

Insider Buying and Selling at Klaviyo

In related news, President Stephen Eric Rowland sold 7,105 shares of the company’s stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $24.35, for a total transaction of $173,006.75. Following the transaction, the president owned 431,516 shares in the company, valued at $10,507,414.60. This represents a 1.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ed Hallen sold 89,748 shares of the stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $31.71, for a total transaction of $2,845,909.08. Following the sale, the director directly owned 177,776 shares in the company, valued at approximately $5,637,276.96. This represents a 33.55% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 5,741,781 shares of company stock worth $180,719,288 over the last 90 days. Company insiders own 49.92% of the company’s stock.

Hedge Funds Weigh In On Klaviyo

Large investors have recently modified their holdings of the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of Klaviyo during the second quarter valued at approximately $31,000. CWM LLC boosted its position in Klaviyo by 227.5% in the 1st quarter. CWM LLC now owns 930 shares of the company’s stock valued at $28,000 after buying an additional 646 shares during the last quarter. First Horizon Advisors Inc. acquired a new stake in shares of Klaviyo in the 2nd quarter valued at $37,000. State of Wyoming acquired a new stake in shares of Klaviyo in the 1st quarter valued at $42,000. Finally, Caitong International Asset Management Co. Ltd raised its position in shares of Klaviyo by 217.9% during the first quarter. Caitong International Asset Management Co. Ltd now owns 1,421 shares of the company’s stock worth $43,000 after acquiring an additional 974 shares during the last quarter. 45.43% of the stock is currently owned by institutional investors and hedge funds.

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.