Klaviyo (NYSE:KVYO) Earns Buy Rating from Analysts at Benchmark

Equities researchers at Benchmark assumed coverage on shares of Klaviyo (NYSE:KVYO) in a research note issued to investors on Monday, Marketbeat.com reports. The firm set a “buy” rating and a $42.00 price target on the stock. Benchmark’s price objective indicates a potential upside of 18.24% from the stock’s current price.

KVYO has been the topic of several other research reports. Barclays lifted their price objective on Klaviyo from $29.00 to $32.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Needham & Company LLC reissued a “buy” rating and issued a $40.00 target price on shares of Klaviyo in a research note on Wednesday, September 4th. Cantor Fitzgerald raised their price target on shares of Klaviyo from $31.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Piper Sandler upped their price objective on Klaviyo from $30.00 to $34.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Finally, KeyCorp raised Klaviyo from a “sector weight” rating to an “overweight” rating and set a $33.00 price target on the stock in a research note on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $36.00.

Klaviyo Trading Up 0.4 %

Shares of NYSE:KVYO opened at $35.52 on Monday. Klaviyo has a 1 year low of $21.26 and a 1 year high of $36.47. The firm has a fifty day moving average price of $30.57 and a 200 day moving average price of $26.23.

Klaviyo (NYSE:KVYO) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.05. The company had revenue of $222.21 million during the quarter, compared to analysts’ expectations of $212.34 million. Klaviyo had a negative net margin of 42.15% and a negative return on equity of 32.19%. The business’s quarterly revenue was up 35.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.09 earnings per share. As a group, research analysts anticipate that Klaviyo will post -0.01 earnings per share for the current year.

Insider Buying and Selling

In related news, President Stephen Eric Rowland sold 18,114 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $31.24, for a total transaction of $565,881.36. Following the transaction, the president now directly owns 192,488 shares in the company, valued at $6,013,325.12. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, President Stephen Eric Rowland sold 18,114 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $31.24, for a total value of $565,881.36. Following the completion of the sale, the president now directly owns 192,488 shares of the company’s stock, valued at $6,013,325.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Jeff Fagnan bought 9,485 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were acquired at an average cost 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 approximately $250,688.55. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 843,363 shares of company stock worth $26,583,602. Corporate insiders own 53.24% of the company’s stock.

Institutional Investors Weigh In On Klaviyo

Several hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp lifted its position in shares of Klaviyo by 677.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,762,128 shares of the company’s stock valued at $68,749,000 after acquiring an additional 2,406,973 shares during the period. Clearbridge Investments LLC grew its stake in Klaviyo by 1.5% during the first quarter. Clearbridge Investments LLC now owns 2,205,684 shares of the company’s stock worth $56,201,000 after buying an additional 31,587 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Klaviyo by 243.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,472,140 shares of the company’s stock valued at $40,896,000 after buying an additional 1,042,902 shares during the period. Glynn Capital Management LLC raised its position in shares of Klaviyo by 19.7% in the 2nd quarter. Glynn Capital Management LLC now owns 1,363,768 shares of the company’s stock valued at $33,944,000 after buying an additional 224,461 shares in the last quarter. Finally, Claro Advisors LLC boosted its position in shares of Klaviyo by 38.7% during the 2nd quarter. Claro Advisors LLC now owns 1,280,035 shares of the company’s stock worth $31,860,000 after acquiring an additional 357,355 shares in 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.