Robert W. Baird Lowers Klaviyo (NYSE:KVYO) Price Target to $35.00

Klaviyo (NYSE:KVYO) had its price objective decreased by stock analysts at Robert W. Baird from $40.00 to $35.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s target price indicates a potential upside of 62.56% from the company’s previous close.

KVYO has been the topic of several other reports. Scotiabank assumed coverage on shares of Klaviyo in a report on Tuesday, April 2nd. They set a “sector perform” rating and a $30.00 price target on the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $38.00 target price on shares of Klaviyo in a research report on Wednesday, February 28th. Barclays reduced their price target on Klaviyo from $37.00 to $32.00 and set an “equal weight” rating for the company in a report on Friday, January 12th. William Blair restated an “outperform” rating on shares of Klaviyo in a report on Wednesday, February 28th. Finally, The Goldman Sachs Group upgraded shares of Klaviyo from a “neutral” rating to a “buy” rating and set a $36.00 target price for the company in a research note on Monday, February 5th. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $36.25.

Klaviyo Stock Performance

Shares of NYSE:KVYO opened at $21.53 on Thursday. The firm has a 50 day simple moving average of $24.52 and a 200 day simple moving average of $26.85. Klaviyo has a 52 week low of $21.51 and a 52 week high of $39.47.

Klaviyo (NYSE:KVYO) last released its earnings results on Tuesday, February 27th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02. The business had revenue of $201.62 million during the quarter, compared to analysts’ expectations of $196.02 million. As a group, analysts expect that Klaviyo will post -0.27 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Landon Edmond sold 3,545 shares of the stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $24.15, for a total value of $85,611.75. Following the completion of the sale, the insider now directly 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 can be accessed through this hyperlink.

Institutional Investors Weigh In On Klaviyo

Several hedge funds have recently made changes to their positions in the stock. Salem Investment Counselors Inc. acquired a new stake in Klaviyo during the fourth quarter worth $25,000. New York State Common Retirement Fund acquired a new stake in shares of Klaviyo during the 3rd quarter valued at about $65,000. Skylands Capital LLC acquired a new stake in shares of Klaviyo during the 3rd quarter valued at about $172,000. Moody National Bank Trust Division increased its stake in Klaviyo by 87.9% in the first quarter. Moody National Bank Trust Division now owns 15,639 shares of the company’s stock valued at $398,000 after acquiring an additional 7,316 shares during the period. Finally, Alberta Investment Management Corp acquired a new position in Klaviyo in the third quarter worth about $391,000. Institutional investors own 45.43% of the company’s stock.

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.