The Goldman Sachs Group Cuts Klaviyo (NYSE:KVYO) Price Target to $41.00

Klaviyo (NYSE:KVYO) had its target price reduced by equities researchers at The Goldman Sachs Group from $48.00 to $41.00 in a report released on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective suggests a potential upside of 34.82% from the stock’s previous close.

Several other analysts also recently weighed in on KVYO. Macquarie restated a “neutral” rating and set a $37.00 price objective on shares of Klaviyo in a research report on Wednesday, August 6th. Wells Fargo & Company assumed coverage on Klaviyo in a research note on Tuesday, September 30th. They set an “overweight” rating and a $40.00 target price for the company. Stephens dropped their target price on shares of Klaviyo from $45.00 to $43.00 and set an “overweight” rating for the company in a report on Friday, September 26th. Zacks Research raised shares of Klaviyo to a “strong sell” rating in a report on Friday, August 8th. Finally, Benchmark reiterated a “buy” rating on shares of Klaviyo in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $43.00.

Klaviyo Stock Performance

Shares of NYSE KVYO traded up $1.61 during trading hours on Friday, hitting $30.41. 6,609,831 shares of the stock were exchanged, compared to its average volume of 2,230,619. The company’s fifty day simple moving average is $28.77 and its two-hundred day simple moving average is $31.25. The company has a market cap of $9.12 billion, a PE ratio of -126.71 and a beta of 1.26. Klaviyo has a 1-year low of $23.44 and a 1-year high of $49.55.

Klaviyo (NYSE:KVYO) last announced 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 1.02%. The business had revenue of $293.12 million during the quarter. As a group, sell-side 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 business’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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Andrew Bialecki sold 226,702 shares of the 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 disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 5,741,781 shares of company stock worth $180,719,288. 49.92% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of KVYO. Vanguard Group Inc. increased its stake in shares of Klaviyo by 19.2% in the third 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 period. Cooper Creek Partners Management LLC bought a new stake in Klaviyo in the second quarter valued at approximately $57,109,000. Norges Bank bought a new stake in Klaviyo in the second quarter valued at approximately $52,629,000. American Century Companies Inc. increased its position in Klaviyo by 123.4% during the 2nd quarter. American Century Companies Inc. now owns 2,685,480 shares of the company’s stock valued at $90,178,000 after purchasing an additional 1,483,427 shares during the period. Finally, Fiera Capital Corp bought a new position in Klaviyo during the 2nd quarter worth approximately $42,645,000. 45.43% of the stock is 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.