Klaviyo (NYSE:KVYO) Stock Rating Upgraded by Wall Street Zen

Klaviyo (NYSE:KVYO) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Several other brokerages also recently commented on KVYO. Weiss Ratings raised shares of Klaviyo from a “sell (d-)” rating to a “sell (d)” rating in a report on Tuesday, September 8th. Truist Financial decreased their price target on shares of Klaviyo from $35.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. Benchmark downgraded Klaviyo from a “buy” rating to a “hold” rating in a research report on Thursday, August 6th. Mizuho set a $24.00 price objective on Klaviyo in a research note on Thursday. Finally, Citigroup boosted their target price on Klaviyo from $36.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, October 28th. Sixteen equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $27.02.

Klaviyo Trading Down 0.0%

Shares of Klaviyo stock opened at $20.70 on Friday. The company’s 50-day moving average price is $18.10 and its 200-day moving average price is $17.97. Klaviyo has a 12-month low of $12.53 and a 12-month high of $33.35. The company has a market cap of $5.89 billion, a price-to-earnings ratio of 1,035.57 and a beta of 0.50.

Klaviyo (NYSE:KVYO) last issued its quarterly earnings data on Wednesday, November 4th. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.17 by $0.05. The company had revenue of $387.21 million during the quarter, compared to analysts’ expectations of $380.02 million. Klaviyo had a net margin of 0.54% and a return on equity of 6.73%. Klaviyo’s revenue for the quarter was up 24.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.18 earnings per share. On average, sell-side analysts predict that Klaviyo will post 0.22 earnings per share for the current year.

Insider Activity at Klaviyo

In related news, CFO Amanda Whalen sold 14,000 shares of the firm’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $18.47, for a total transaction of $258,580.00. Following the transaction, the chief financial officer directly owned 824,192 shares of the company’s stock, valued at approximately $15,222,826.24. This trade represents a 1.67% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Ed Hallen sold 98,782 shares of the business’s stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $20.48, for a total value of $2,023,055.36. Following the completion of the sale, the director owned 94,457 shares of the company’s stock, valued at $1,934,479.36. The trade was a 51.12% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 5,275,468 shares of company stock worth $93,822,653 in the last quarter. 37.42% of the stock is owned by company insiders.

Institutional Investors Weigh In On Klaviyo

A number of hedge funds have recently made changes to their positions in KVYO. Optiver Holding B.V. bought a new stake in shares of Klaviyo in the 1st quarter valued at about $39,000. Parallel Advisors LLC grew its position in Klaviyo by 30.1% during the 3rd quarter. Parallel Advisors LLC now owns 2,276 shares of the company’s stock worth $36,000 after acquiring an additional 526 shares during the last quarter. Rockefeller Capital Management L.P. grew its position in Klaviyo by 2,641.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 3,207 shares of the company’s stock worth $104,000 after acquiring an additional 3,090 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in Klaviyo by 2,085.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 3,802 shares of the company’s stock worth $74,000 after acquiring an additional 3,628 shares during the last quarter. Finally, State of Wyoming increased its stake in Klaviyo by 100.8% in the 3rd quarter. State of Wyoming now owns 4,554 shares of the company’s stock worth $72,000 after purchasing an additional 2,286 shares during the period. 45.43% of the stock is currently owned by institutional investors.

Klaviyo News Roundup

Here are the key news stories impacting Klaviyo this week:

• Positive Sentiment: Klaviyo beat quarterly earnings and revenue estimates, with revenue rising 24.5% year over year, according to the supplied company background. Recent coverage also says the company raised revenue guidance, supporting the growth outlook. Klaviyo Stock May Trade At A Discount As Revenue Guidance Rises
• Positive Sentiment: A report says KVYO could be 21% undervalued following earnings and a new buyback. The buyback may signal management confidence and provide support for the stock. Klaviyo Could Be 21% Undervalued Following Earnings And A New Buyback
• Positive Sentiment: TD Cowen and Barclays maintained Buy ratings, Piper Sandler stuck with its Buy rating, and Wall Street Zen upgraded Klaviyo to Buy. The favorable recommendations may bolster investor confidence, though they do not guarantee future performance. TD Cowen Keeps Buy Rating Barclays Buy Rating Piper Sandler Maintains Buy Rating Wall Street Zen Upgrades Klaviyo to Buy
• Neutral Sentiment: Another report describes analyst opinions as mixed, tempering the broadly positive rating news; the provided article details do not specify the differences. Analysts’ Opinions Are Mixed

About Klaviyo

Klaviyo, Inc provides a customer data and marketing automation platform that helps businesses manage customer relationships and communications. Its software brings together customer information to support personalized marketing and engagement.

The platform offers tools for email and text-message marketing, mobile push notifications, automation, audience segmentation, analytics and customer service. Klaviyo also connects with other business applications, including e-commerce platforms, to help companies coordinate customer data and outreach.

Founded in 2012 by Andrew Bialecki and Ed Hallen, Klaviyo is headquartered in Boston and serves businesses in markets around the world.