Klaviyo (NYSE:KVYO) Raised to Hold at Zacks Research

Klaviyo (NYSE:KVYO) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

Other analysts have also issued reports about the company. The Goldman Sachs Group decreased their price objective on Klaviyo from $48.00 to $41.00 and set a “buy” rating on the stock in a research note on Friday, November 7th. Cantor Fitzgerald lowered their price objective on Klaviyo from $48.00 to $40.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 29th. Stifel Nicolaus reduced their target price on Klaviyo from $42.00 to $40.00 and set a “buy” rating for the company in a research report on Thursday, November 6th. Benchmark reiterated a “buy” rating on shares of Klaviyo in a research report on Tuesday, November 4th. Finally, Wall Street Zen upgraded shares of Klaviyo from a “hold” rating to a “buy” rating in a research report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Klaviyo presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.67.

Klaviyo Stock Up 0.3%

KVYO opened at $29.50 on Monday. The company has a market capitalization of $8.85 billion, a price-to-earnings ratio of -122.91 and a beta of 1.26. The firm has a 50-day moving average price of $28.64 and a 200-day moving average price of $31.38. Klaviyo has a twelve month low of $23.44 and a twelve month high of $49.55.

Klaviyo (NYSE:KVYO) last released its quarterly earnings data on Thursday, September 25th. The company reported $0.16 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. On average, sell-side analysts expect that Klaviyo will post 0.04 earnings per share for the current fiscal year.

Insider Buying and Selling at Klaviyo

In related news, CEO Andrew Bialecki sold 226,702 shares of Klaviyo stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $31.50, for a total value of $7,141,113.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Summit Partners L. P sold 4,000,000 shares of the business’s stock in a transaction on Monday, September 8th. The stock was sold at an average price of $31.87, for a total transaction of $127,480,000.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 5,741,781 shares of company stock worth $180,719,288 over the last ninety days. Insiders own 53.24% of the company’s stock.

Institutional Investors Weigh In On Klaviyo

Several institutional investors have recently bought and sold shares of KVYO. US Bancorp DE increased its stake in Klaviyo by 50.5% in the 3rd quarter. US Bancorp DE now owns 6,485 shares of the company’s stock worth $180,000 after purchasing an additional 2,176 shares during the period. Fox Run Management L.L.C. grew its holdings in shares of Klaviyo by 140.7% in the third quarter. Fox Run Management L.L.C. now owns 61,101 shares of the company’s stock worth $1,692,000 after purchasing an additional 35,719 shares during the last quarter. Counterpoint Mutual Funds LLC increased its stake in shares of Klaviyo by 25.2% in the third quarter. Counterpoint Mutual Funds LLC now owns 27,241 shares of the company’s stock worth $754,000 after buying an additional 5,483 shares during the period. M&G PLC purchased a new position in shares of Klaviyo in the third quarter worth $1,201,000. Finally, Vanguard Group Inc. raised its holdings in Klaviyo by 19.2% during the 3rd quarter. Vanguard Group Inc. now owns 12,787,728 shares of the company’s stock valued at $354,092,000 after buying an additional 2,059,550 shares during the last quarter. 45.43% of the stock is currently owned by hedge funds and other institutional investors.

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.