Loop Capital Forecasts Strong Price Appreciation for Klaviyo (NYSE:KVYO) Stock

Klaviyo (NYSE:KVYO) had its price objective raised by equities research analysts at Loop Capital from $45.00 to $60.00 in a report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Loop Capital’s price target suggests a potential upside of 36.12% from the company’s current price.

A number of other brokerages have also recently issued reports on KVYO. Piper Sandler lifted their target price on Klaviyo from $34.00 to $45.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. William Blair restated an “outperform” rating on shares of Klaviyo in a report on Thursday. Stifel Nicolaus started coverage on shares of Klaviyo in a report on Tuesday, October 22nd. They issued a “buy” rating and a $45.00 target price for the company. KeyCorp boosted their price target on shares of Klaviyo from $42.00 to $45.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Finally, Needham & Company LLC raised their price objective on shares of Klaviyo from $40.00 to $46.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Three analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $40.88.

Klaviyo Stock Performance

Shares of NYSE KVYO opened at $44.08 on Monday. Klaviyo has a 1 year low of $21.26 and a 1 year high of $44.77. The stock has a fifty day moving average price of $38.09 and a two-hundred day moving average price of $31.81. The firm has a market cap of $11.89 billion, a P/E ratio of -244.88 and a beta of 0.97.

Klaviyo (NYSE:KVYO) last released its earnings results on Wednesday, November 6th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.04. Klaviyo had a positive return on equity of 0.86% and a negative net margin of 5.23%. The firm had revenue of $235.09 million for the quarter, compared to analyst estimates of $226.33 million. During the same period in the previous year, the company earned ($1.24) earnings per share. Klaviyo’s revenue was up 33.7% compared to the same quarter last year. On average, research analysts predict that Klaviyo will post 0.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, President Stephen Eric Rowland sold 4,536 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $34.56, for a total transaction of $156,764.16. Following the transaction, the president now owns 186,785 shares in the company, valued at $6,455,289.60. This represents a 2.37 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Amanda Whalen sold 10,000 shares of the firm’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $35.36, for a total transaction of $353,600.00. Following the transaction, the chief financial officer now owns 422,813 shares in the company, valued at $14,950,667.68. This represents a 2.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 127,650 shares of company stock valued at $4,676,705 in the last three months. Insiders own 53.24% of the company’s stock.

Institutional Trading of Klaviyo

Several large investors have recently made changes to their positions in KVYO. Bank of New York Mellon Corp boosted its position in Klaviyo by 677.7% during the second quarter. Bank of New York Mellon Corp now owns 2,762,128 shares of the company’s stock worth $68,749,000 after purchasing an additional 2,406,973 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Klaviyo by 1,447.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,852 shares of the company’s stock worth $668,000 after buying an additional 25,117 shares during the period. Claro Advisors LLC grew its stake in Klaviyo by 38.7% in the 2nd quarter. Claro Advisors LLC now owns 1,280,035 shares of the company’s stock valued at $31,860,000 after buying an additional 357,355 shares during the last quarter. Versor Investments LP bought a new position in Klaviyo in the 2nd quarter worth $309,000. Finally, Glynn Capital Management LLC lifted its position in Klaviyo by 19.7% during the 2nd quarter. Glynn Capital Management LLC now owns 1,363,768 shares of the company’s stock worth $33,944,000 after acquiring an additional 224,461 shares during 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.