Klaviyo (NYSE:KVYO) PT Lowered to $32.00 at Canaccord Genuity Group

Klaviyo (NYSE:KVYO) had its target price decreased by Canaccord Genuity Group from $37.00 to $32.00 in a research report sent to investors on Thursday morning, Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

Several other equities research analysts have also issued reports on KVYO. Mizuho dropped their price objective on Klaviyo from $40.00 to $35.00 and set a buy rating for the company in a research note on Thursday. The Goldman Sachs Group upgraded Klaviyo from a neutral rating to a buy rating and set a $36.00 price target on the stock in a research report on Monday, February 5th. Needham & Company LLC reiterated a buy rating and issued a $40.00 price objective on shares of Klaviyo in a report on Thursday. KeyCorp began coverage on Klaviyo in a research report on Thursday, March 21st. They issued a sector weight rating for the company. Finally, Scotiabank began coverage on shares of Klaviyo in a research note on Tuesday, April 2nd. They set a sector perform rating and a $30.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $35.50.

Klaviyo Trading Up 1.2 %

Klaviyo stock traded up $0.28 during midday trading on Thursday, reaching $23.93. The stock had a trading volume of 31,574 shares, compared to its average volume of 1,151,334. Klaviyo has a 12 month low of $21.51 and a 12 month high of $39.47. The firm’s 50-day moving average price is $24.27 and its 200 day moving average price is $26.74.

Klaviyo (NYSE:KVYO) last released its quarterly earnings data on Wednesday, May 8th. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.03. The business had revenue of $210.00 million during the quarter, compared to analysts’ expectations of $202.08 million. The company’s revenue for the quarter was up 34.5% on a year-over-year basis. As a group, research analysts anticipate that Klaviyo will post -0.27 EPS for the current year.

Insider Buying and Selling

In other Klaviyo news, insider Landon Edmond sold 3,545 shares of Klaviyo stock in a transaction on 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 transaction, the insider now directly owns 167,127 shares of the company’s stock, valued at approximately $4,036,117.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Institutional Investors Weigh In On Klaviyo

A number of institutional investors and hedge funds have recently bought and sold shares of KVYO. Salem Investment Counselors Inc. purchased a new position in shares of Klaviyo in the 4th quarter valued at $25,000. New York State Common Retirement Fund purchased a new position in Klaviyo in the third quarter valued at about $65,000. Skylands Capital LLC bought a new position in Klaviyo in the third quarter worth about $172,000. Moody National Bank Trust Division bought a new position in Klaviyo in the fourth quarter worth about $231,000. Finally, Renaissance Capital LLC purchased 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.