Klaviyo (NYSE:KVYO) Given New $40.00 Price Target at Cantor Fitzgerald

Klaviyo (NYSE:KVYO) had its price target lowered by Cantor Fitzgerald from $48.00 to $40.00 in a report issued on Wednesday, MarketBeat Ratings reports. Cantor Fitzgerald currently has an overweight rating on the stock.

A number of other analysts also recently issued reports on KVYO. Macquarie reissued a “neutral” rating and issued a $37.00 target price on shares of Klaviyo in a research report on Wednesday, August 6th. Wells Fargo & Company initiated coverage on Klaviyo in a research report on Tuesday, September 30th. They issued an “overweight” rating and a $40.00 target price for the company. Morgan Stanley raised Klaviyo from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $40.00 to $50.00 in a report on Friday, September 19th. Zacks Research raised Klaviyo to a “strong sell” rating in a research note on Friday, August 8th. Finally, Robert W. Baird dropped their price objective on Klaviyo from $44.00 to $39.00 and set an “outperform” rating for the company in a research note on Friday, September 26th. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $43.33.

Klaviyo Trading Down 1.9%

Shares of KVYO opened at $25.31 on Wednesday. The company has a market capitalization of $7.59 billion, a price-to-earnings ratio of -101.24 and a beta of 1.26. The stock has a 50 day moving average of $29.43 and a 200 day moving average of $31.27. Klaviyo has a 12 month low of $23.44 and a 12 month high of $49.55.

Klaviyo (NYSE:KVYO) last issued its quarterly earnings results on Thursday, September 25th. The company reported $0.16 EPS for the quarter. The company had revenue of $293.12 million during the quarter. Klaviyo had a negative return on equity of 1.12% and a negative net margin of 6.19%. As a group, equities research analysts predict that Klaviyo will post 0.04 earnings per share for the current year.

Insider Activity

In other Klaviyo news, CEO Andrew Bialecki sold 163,331 shares of Klaviyo stock in a transaction dated Tuesday, October 14th. The stock was sold at an average price of $24.37, for a total transaction of $3,980,376.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Amanda Whalen sold 15,000 shares of Klaviyo stock in a transaction dated Friday, October 10th. The stock was sold at an average price of $25.03, for a total value of $375,450.00. Following the sale, the chief financial officer directly owned 481,719 shares of the company’s stock, valued at approximately $12,057,426.57. This trade represents a 3.02% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 5,741,781 shares of company stock valued at $180,719,288. 49.92% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of KVYO. Cooper Creek Partners Management LLC purchased a new position in shares of Klaviyo in the second quarter worth about $57,109,000. Norges Bank purchased a new position in shares of Klaviyo in the second quarter worth about $52,629,000. American Century Companies Inc. increased its holdings in shares of Klaviyo by 123.4% in the second quarter. American Century Companies Inc. now owns 2,685,480 shares of the company’s stock worth $90,178,000 after buying an additional 1,483,427 shares during the period. Fiera Capital Corp purchased a new position in shares of Klaviyo in the second quarter worth about $42,645,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of Klaviyo by 105.1% in the second quarter. JPMorgan Chase & Co. now owns 1,692,854 shares of the company’s stock worth $56,846,000 after buying an additional 867,666 shares during the period. 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.