Barclays Upgrades Klaviyo (NYSE:KVYO) to Overweight

Klaviyo (NYSE:KVYOGet Free Report) was upgraded by analysts at Barclays from an “equal weight” rating to an “overweight” rating in a report released on Wednesday, MarketBeat reports. The firm presently has a $29.00 target price on the stock, up from their previous target price of $25.00. Barclays‘s target price would suggest a potential upside of 27.53% from the stock’s previous close.

KVYO has been the topic of several other reports. Morgan Stanley reduced their price objective on Klaviyo from $37.00 to $32.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 17th. Needham & Company LLC restated a “buy” rating and issued a $40.00 price target on shares of Klaviyo in a research note on Friday, May 17th. William Blair restated an “outperform” rating on shares of Klaviyo in a research note on Wednesday, February 28th. Canaccord Genuity Group cut their price target on Klaviyo from $37.00 to $32.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Finally, Robert W. Baird cut their price target on Klaviyo from $40.00 to $35.00 and set an “outperform” rating on the stock in a research note on Thursday, May 9th. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, Klaviyo has a consensus rating of “Moderate Buy” and an average price target of $35.75.

Check Out Our Latest Research Report on KVYO

Klaviyo Trading Down 3.1 %

Shares of NYSE KVYO opened at $22.74 on Wednesday. Klaviyo has a 12-month low of $21.51 and a 12-month high of $39.47. The business’s fifty day simple moving average is $23.33 and its 200-day simple moving average is $25.97.

Klaviyo (NYSE:KVYOGet Free Report) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.03. The company had revenue of $210.00 million during the quarter, compared to analyst estimates of $202.08 million. The company’s quarterly revenue was up 34.5% compared to the same quarter last year. On average, research analysts forecast that Klaviyo will post -0.11 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Jennifer Ceran sold 13,000 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $24.65, for a total transaction of $320,450.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, insider Landon Edmond sold 3,545 shares of the firm’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $24.15, for a total value of $85,611.75. Following the completion of the sale, the insider now owns 167,127 shares in the company, valued at $4,036,117.05. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jennifer Ceran sold 13,000 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $24.65, for a total transaction of $320,450.00. The disclosure for this sale can be found here. Corporate insiders own 53.24% of the company’s stock.

Institutional Investors Weigh In On Klaviyo

Hedge funds have recently added to or reduced their stakes in the company. Salem Investment Counselors Inc. acquired a new stake in Klaviyo in the fourth quarter valued at about $25,000. New York State Common Retirement Fund acquired a new stake in Klaviyo in the third quarter valued at about $65,000. EntryPoint Capital LLC acquired a new stake in Klaviyo in the first quarter valued at about $71,000. Moody National Bank Trust Division acquired a new stake in Klaviyo in the fourth quarter valued at about $231,000. Finally, SVB Wealth LLC acquired a new stake in Klaviyo in the first quarter valued at about $299,000. Institutional investors and hedge funds own 45.43% of the company’s stock.

Klaviyo Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Klaviyo (NYSE:KVYO)

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