Klaviyo (NYSE:KVYO) Rating Increased to Strong-Buy at BTIG Research

BTIG Research upgraded shares of Klaviyo (NYSE:KVYO) to a strong-buy rating in a report published on Monday,Zacks.com reports.

Other equities analysts have also recently issued reports about the company. Piper Sandler reaffirmed an “overweight” rating and issued a $45.00 price objective (down from $50.00) on shares of Klaviyo in a report on Thursday, November 6th. Zacks Research raised Klaviyo from a “strong sell” rating to a “hold” rating in a research note on Monday, November 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $45.00 price objective on shares of Klaviyo in a research report on Friday, September 26th. Macquarie decreased their target price on shares of Klaviyo from $37.00 to $30.00 and set a “neutral” rating on the stock in a report on Tuesday, November 11th. Finally, Jefferies Financial Group raised shares of Klaviyo to a “strong-buy” rating in a report on Wednesday, October 22nd. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Klaviyo presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.77.

Klaviyo Stock Up 1.8%

Shares of Klaviyo stock opened at $29.96 on Monday. The stock has a market capitalization of $9.05 billion, a price-to-earnings ratio of -124.82 and a beta of 1.18. Klaviyo has a twelve month low of $23.44 and a twelve month high of $49.55. The company has a 50-day simple moving average of $27.46 and a two-hundred day simple moving average of $30.55.

Klaviyo (NYSE:KVYO) last announced its earnings results on Thursday, September 25th. The company reported $0.16 earnings per share (EPS) for the quarter. Klaviyo had a negative net margin of 5.70% and a negative return on equity of 1.00%. The firm had revenue of $293.12 million for the quarter. On average, sell-side analysts anticipate that Klaviyo will post 0.04 earnings per share for the current fiscal year.

Insider Activity at Klaviyo

In other news, CEO Andrew Bialecki sold 211,358 shares of the firm’s stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $35.45, for a total value of $7,492,641.10. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders have sold a total of 1,668,743 shares of company stock valued at $48,174,380 over the last three months. 49.92% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Klaviyo

Several institutional investors and hedge funds have recently added to or reduced their stakes in KVYO. Caitong International Asset Management Co. Ltd grew its stake in shares of Klaviyo by 1,650.9% during the third quarter. Caitong International Asset Management Co. Ltd now owns 963 shares of the company’s stock worth $27,000 after buying an additional 908 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in shares of Klaviyo in the 2nd quarter valued at $31,000. FNY Investment Advisers LLC acquired a new stake in shares of Klaviyo during the 3rd quarter valued at $34,000. First Horizon Advisors Inc. bought a new stake in Klaviyo during the 2nd quarter worth $37,000. Finally, State of Wyoming acquired a new position in Klaviyo in the 1st quarter worth about $42,000. Institutional investors 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.