Mizuho Cuts Klaviyo (NYSE:KVYO) Price Target to $35.00

Klaviyo (NYSE:KVYO) had its target price decreased by equities researchers at Mizuho from $40.00 to $35.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. Mizuho’s price target would indicate a potential upside of 62.56% from the stock’s previous close.

Other equities research analysts also recently issued reports about the company. Piper Sandler reissued an “overweight” rating and issued a $38.00 price objective on shares of Klaviyo in a research note on Wednesday, February 28th. Barclays decreased their price target on shares of Klaviyo from $37.00 to $32.00 and set an “equal weight” rating for the company in a report on Friday, January 12th. KeyCorp started coverage on shares of Klaviyo in a research note on Thursday, March 21st. They issued a “sector weight” rating on the stock. William Blair reissued an “outperform” rating on shares of Klaviyo in a research note on Wednesday, February 28th. Finally, Cantor Fitzgerald started coverage on Klaviyo in a report on Tuesday, April 16th. They set an “overweight” rating and a $31.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, Klaviyo has a consensus rating of “Moderate Buy” and a consensus target price of $36.25.

Klaviyo Stock Down 7.9 %

KVYO stock opened at $21.53 on Thursday. Klaviyo has a one year low of $21.51 and a one year high of $39.47. The firm has a 50-day moving average of $24.52 and a two-hundred day moving average of $26.85.

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

Insider Activity at Klaviyo

In other news, insider Landon Edmond sold 3,545 shares of the business’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $24.15, for a total transaction of $85,611.75. Following the transaction, the insider now owns 167,127 shares in the company, valued at approximately $4,036,117.05. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Institutional Inflows and Outflows

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