Klaviyo (NYSE:KVYO) Downgraded to “Hold” Rating by Wall Street Zen

Klaviyo (NYSE:KVYO) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday.

Other equities research analysts have also issued research reports about the stock. Jefferies Financial Group upgraded shares of Klaviyo to a “strong-buy” rating in a report on Wednesday, October 22nd. The Goldman Sachs Group reduced their price objective on shares of Klaviyo from $48.00 to $41.00 and set a “buy” rating on the stock in a research report on Friday, November 7th. Needham & Company LLC reissued a “buy” rating and issued a $45.00 price objective on shares of Klaviyo in a research note on Friday, September 26th. Stephens cut their target price on Klaviyo from $45.00 to $43.00 and set an “overweight” rating on the stock in a research note on Friday, September 26th. Finally, Zacks Research upgraded Klaviyo from a “strong sell” rating to a “hold” rating in a report on Monday, November 10th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Klaviyo currently has an average rating of “Moderate Buy” and a consensus price target of $42.90.

Klaviyo Stock Performance

NYSE KVYO opened at $29.50 on Friday. The business’s 50 day moving average price is $27.00 and its 200-day moving average price is $30.80. Klaviyo has a fifty-two week low of $23.44 and a fifty-two week high of $49.55. The company has a market cap of $8.91 billion, a P/E ratio of -122.91 and a beta of 1.18.

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

Insider Transactions at Klaviyo

In other news, CEO Andrew Bialecki sold 226,382 shares of the firm’s stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $32.35, for a total transaction of $7,323,457.70. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Summit Partners L. P sold 4,000,000 shares of Klaviyo stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $31.87, for a total transaction of $127,480,000.00. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 5,745,896 shares of company stock worth $179,279,807 over the last 90 days. Insiders own 49.92% of the company’s stock.

Institutional Investors Weigh In On Klaviyo

Several hedge funds have recently made changes to their positions in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in shares of Klaviyo during the second quarter valued at $31,000. Caitong International Asset Management Co. Ltd grew its holdings in Klaviyo by 1,650.9% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 963 shares of the company’s stock worth $27,000 after acquiring an additional 908 shares in the last quarter. First Horizon Advisors Inc. bought a new position in Klaviyo during the 2nd quarter worth about $37,000. State of Wyoming purchased a new position in Klaviyo during the 1st quarter valued at about $42,000. Finally, Quarry LP bought a new stake in shares of Klaviyo in the 3rd quarter valued at about $44,000. 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.