Klaviyo (NYSE:KVYO) Price Target Lowered to $40.00 at Stifel Nicolaus

Klaviyo (NYSE:KVYO) had its price objective reduced by Stifel Nicolaus from $42.00 to $40.00 in a research note released on Thursday,Benzinga reports. They currently have a buy rating on the stock.

Several other research firms have also recently commented on KVYO. Citigroup upgraded shares of Klaviyo from a “neutral” rating to a “buy” rating and boosted their price target for the company from $40.00 to $50.00 in a report on Thursday, August 7th. Jefferies Financial Group upgraded Klaviyo to a “strong-buy” rating in a research note on Wednesday, October 22nd. KeyCorp cut their price target on Klaviyo from $50.00 to $45.00 and set an “overweight” rating for the company in a research note on Thursday. Weiss Ratings initiated coverage on Klaviyo in a report on Saturday, November 1st. They set a “sell (d-)” rating for the company. Finally, Needham & Company LLC restated a “buy” rating and issued a $45.00 price objective on shares of Klaviyo in a report on Friday, September 26th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Klaviyo currently has a consensus rating of “Moderate Buy” and an average target price of $43.00.

Klaviyo Stock Up 5.6%

Klaviyo stock traded up $1.61 during mid-day trading on Thursday, hitting $30.41. The company’s stock had a trading volume of 6,609,831 shares, compared to its average volume of 3,125,963. Klaviyo has a 52-week low of $23.44 and a 52-week high of $49.55. The firm’s 50 day moving average is $28.77 and its 200 day moving average is $31.25.

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

Insider Buying and Selling at Klaviyo

In related news, major shareholder Summit Partners L. P sold 4,000,000 shares of the firm’s stock in a transaction on Monday, September 8th. The shares were sold at an average price of $31.87, for a total value of $127,480,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Andrew Bialecki sold 226,702 shares of Klaviyo stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $31.50, for a total value of $7,141,113.00. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 5,741,781 shares of company stock worth $180,719,288 over the last 90 days. Insiders own 49.92% of the company’s stock.

Institutional Trading of Klaviyo

A number of hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Klaviyo by 19.2% during the third quarter. Vanguard Group Inc. now owns 12,787,728 shares of the company’s stock worth $354,092,000 after buying an additional 2,059,550 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Klaviyo by 10.1% during the 2nd quarter. Alliancebernstein L.P. now owns 4,424,249 shares of the company’s stock worth $148,566,000 after acquiring an additional 404,969 shares during the period. Sands Capital Alternatives LLC boosted its position in shares of Klaviyo by 2.1% during the 2nd quarter. Sands Capital Alternatives LLC now owns 3,515,065 shares of the company’s stock valued at $118,036,000 after acquiring an additional 71,550 shares in the last quarter. Federated Hermes Inc. increased its stake in Klaviyo by 9.0% in the second quarter. Federated Hermes Inc. now owns 2,911,007 shares of the company’s stock valued at $97,752,000 after acquiring an additional 241,207 shares during the period. Finally, American Century Companies Inc. raised its position in 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 purchasing an additional 1,483,427 shares in the last quarter. 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.