Klaviyo (NYSE:KVYO) Stock Rating Reaffirmed by Needham & Company LLC

Klaviyo (NYSE:KVYO)‘s stock had its “buy” rating restated by research analysts at Needham & Company LLC in a note issued to investors on Thursday, Benzinga reports. They currently have a $40.00 price objective on the stock. Needham & Company LLC’s price target would suggest a potential upside of 66.11% from the company’s current price.

Several other analysts have also recently commented on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $31.00 target price on shares of Klaviyo in a research report on Thursday. Piper Sandler reaffirmed an “overweight” rating and set a $38.00 price target on shares of Klaviyo in a research note on Wednesday, February 28th. Robert W. Baird lowered their price target on Klaviyo from $40.00 to $35.00 and set an “outperform” rating for the company in a research note on Thursday. FBN Securities assumed coverage on shares of Klaviyo in a research note on Wednesday, March 20th. They issued an “outperform” rating and a $35.00 target price for the company. Finally, Barclays dropped their price target on shares of Klaviyo from $32.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Thursday. Five 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, the company currently has an average rating of “Moderate Buy” and an average price target of $35.50.

Klaviyo Price Performance

Shares of NYSE KVYO traded up $2.55 during trading on Thursday, hitting $24.08. The company had a trading volume of 3,333,709 shares, compared to its average volume of 1,148,416. The business’s 50-day moving average is $24.40 and its 200 day moving average is $26.82. Klaviyo has a 52 week low of $21.51 and a 52 week high of $39.47.

Klaviyo (NYSE:KVYO) last released its quarterly earnings results 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 company had revenue of $210.00 million during the quarter, compared to analyst estimates of $202.08 million. The company’s revenue for the quarter was up 34.5% on a year-over-year basis. On average, research analysts forecast that Klaviyo will post -0.27 earnings per share for the current fiscal year.

Insider Buying and Selling at Klaviyo

In related news, insider Landon Edmond sold 3,545 shares of the 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 transaction, the insider now owns 167,127 shares of the company’s stock, valued at $4,036,117.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Institutional Trading of Klaviyo

Several institutional investors have recently bought and sold shares of the stock. Skylands Capital LLC acquired a new position in shares of Klaviyo during the third quarter worth approximately $172,000. Allspring Global Investments Holdings LLC bought a new position in Klaviyo in the third quarter valued at about $1,087,000. New York State Common Retirement Fund bought a new stake in Klaviyo during the 3rd quarter worth about $65,000. Glynn Capital Management LLC acquired a new stake in shares of Klaviyo during the 3rd quarter worth approximately $8,478,000. Finally, Lord Abbett & CO. LLC acquired a new position in Klaviyo in the third quarter valued at approximately $5,111,000. Institutional investors and hedge funds own 45.43% of the company’s stock.

Klaviyo Company Profile

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.