Klaviyo (NYSE:KVYO) PT Lowered to $35.00

Klaviyo (NYSE:KVYO) had its target price lowered by equities research analysts at Robert W. Baird from $40.00 to $35.00 in a report issued on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Robert W. Baird’s price objective indicates a potential upside of 62.56% from the company’s current price.

KVYO has been the topic of a number of other research reports. Cantor Fitzgerald assumed coverage on shares of Klaviyo in a research report on Tuesday, April 16th. They issued an “overweight” rating and a $31.00 target price on the stock. Needham & Company LLC restated a “buy” rating and set a $40.00 price objective on shares of Klaviyo in a research report on Wednesday, February 28th. Morgan Stanley lowered their target price on Klaviyo from $37.00 to $32.00 and set an “equal weight” rating for the company in a report on Wednesday, April 17th. Mizuho cut their price target on Klaviyo from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, William Blair reaffirmed an “outperform” rating on shares of Klaviyo in a research note on Wednesday, February 28th. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Klaviyo presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.25.

Klaviyo Stock Performance

NYSE KVYO opened at $21.53 on Thursday. Klaviyo has a fifty-two week low of $21.51 and a fifty-two week high of $39.47. The business has a fifty day moving average price of $24.52 and a two-hundred day moving average price of $26.85.

Klaviyo (NYSE:KVYO) last released its quarterly earnings data on Tuesday, February 27th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.02. The business had revenue of $201.62 million during the quarter, compared to analyst estimates of $196.02 million. As a group, research analysts predict that Klaviyo will post -0.27 EPS for the current fiscal year.

Insider Buying and Selling

In other Klaviyo news, insider Landon Edmond sold 3,545 shares of the company’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $24.15, for a total transaction of $85,611.75. Following the sale, the insider now owns 167,127 shares of the company’s stock, valued at $4,036,117.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Salem Investment Counselors Inc. purchased a new position in Klaviyo in the fourth quarter worth $25,000. New York State Common Retirement Fund purchased a new stake in Klaviyo during the 3rd quarter worth about $65,000. Skylands Capital LLC bought a new position in Klaviyo in the 3rd quarter worth about $172,000. Moody National Bank Trust Division purchased a new position in Klaviyo during the 4th quarter valued at about $231,000. Finally, Renaissance Capital LLC bought a new stake in shares of Klaviyo during the fourth quarter valued at about $341,000. 45.43% of the stock is owned by 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.