Klaviyo (NYSE:KVYO) Price Target Cut to $45.00 by Analysts at Needham & Company LLC

Klaviyo (NYSE:KVYO) had its target price trimmed by Needham & Company LLC from $56.00 to $45.00 in a research report report published on Wednesday, MarketBeat Ratings reports. The brokerage currently has a buy rating on the stock.

KVYO has been the topic of a number of other reports. William Blair restated an “outperform” rating on shares of Klaviyo in a report on Thursday, February 20th. Barclays decreased their price target on Klaviyo from $51.00 to $35.00 and set an “overweight” rating for the company in a report on Monday, April 21st. Piper Sandler cut their target price on Klaviyo from $53.00 to $35.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 23rd. Morgan Stanley reduced their price objective on shares of Klaviyo from $50.00 to $34.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 16th. Finally, Benchmark increased their target price on shares of Klaviyo from $40.00 to $51.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.11.

Klaviyo Trading Up 0.4 %

Shares of NYSE KVYO opened at $33.38 on Wednesday. The stock has a market cap of $9.12 billion, a P/E ratio of -185.44 and a beta of 1.35. The business’s fifty day simple moving average is $30.54 and its 200-day simple moving average is $37.38. Klaviyo has a 12-month low of $21.26 and a 12-month high of $49.55.

Klaviyo (NYSE:KVYO) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. Klaviyo had a positive return on equity of 0.89% and a negative net margin of 4.92%. The business had revenue of $279.83 million during the quarter, compared to the consensus estimate of $267.79 million. During the same period in the previous year, the company posted $0.13 earnings per share. The business’s revenue for the quarter was up 33.3% on a year-over-year basis. On average, equities analysts forecast that Klaviyo will post 0.04 EPS for the current fiscal year.

Insiders Place Their Bets

In other Klaviyo news, CFO Amanda Whalen sold 15,000 shares of the firm’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $33.54, for a total transaction of $503,100.00. Following the sale, the chief financial officer now directly owns 349,623 shares of the company’s stock, valued at $11,726,355.42. This trade represents a 4.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Stephen Eric Rowland sold 36,710 shares of Klaviyo stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $35.08, for a total transaction of $1,287,786.80. Following the completion of the sale, the president now directly owns 246,254 shares of the company’s stock, valued at $8,638,590.32. The trade was a 12.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,073,770 shares of company stock worth $67,259,606. 53.24% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Focus Partners Wealth acquired a new position in shares of Klaviyo in the 4th quarter valued at about $38,870,000. D. E. Shaw & Co. Inc. raised its holdings in Klaviyo by 195.4% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,310,227 shares of the company’s stock valued at $54,034,000 after buying an additional 866,749 shares during the period. Lord Abbett & CO. LLC acquired a new position in Klaviyo during the fourth quarter valued at approximately $30,851,000. Vanguard Group Inc. grew its stake in Klaviyo by 9.7% during the first quarter. Vanguard Group Inc. now owns 8,467,933 shares of the company’s stock worth $256,240,000 after buying an additional 746,078 shares during the period. Finally, Ameriprise Financial Inc. increased its position in shares of Klaviyo by 229.5% in the fourth quarter. Ameriprise Financial Inc. now owns 982,134 shares of the company’s stock worth $40,507,000 after acquiring an additional 684,026 shares in the last quarter. Institutional investors and hedge funds own 45.43% of the company’s stock.

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.