Barclays Raises Klaviyo Price Target to $51.00

On Thursday, Barclays updated its price target for Klaviyo (NYSE:KVYO) from $47.00 to $51.00. In their research report, the analysts also assigned an "overweight" rating to the stock. This new target price suggests that shares could rise by approximately 18.65% from their last closing value.

Analysts Share Their Insights

Several other analysts have recently weighed in on Klaviyo as well. Loop Capital raised their target price significantly from $45.00 to $60.00, maintaining a "buy" rating. Conversely, Wells Fargo & Company decreased their target from $48.00 to $45.00, issuing an "equal weight" rating in their latest report.

William Blair reiterated an "outperform" rating for Klaviyo shares, while Macquarie also reaffirmed their "neutral" rating and set a target price of $36.00. Additionally, Canaccord Genuity Group raised their price target from $40.00 to $50.00, labeling the company as a "buy". Overall, five analysts recommend holding the stock, while fourteen analysts suggest buying it. According to MarketBeat, Klaviyo currently holds a consensus rating of "Moderate Buy" with an average price target of $49.44.

Klaviyo's Market Performance

During mid-day trading on Thursday, shares of Klaviyo saw a decline of $4.02, bringing the price down to $42.98. The trading volume for the day reached 3,294,301 shares against an average volume of 1,198,081. Over the past year, the stock has hit a low of $21.26 and a high of $49.55. Currently, Klaviyo has a market capitalization of $11.59 billion and a P/E ratio of -238.78.

Recent Earnings Report

Klaviyo recently released its earnings results on February 19th, reporting an earnings per share (EPS) of ($0.06) for the quarter, which fell short of the consensus estimate of $0.06 by $0.12. The company's revenue for the quarter stood at $270.16 million, surpassing the consensus estimate of $257.24 million. Analysts forecast that Klaviyo will report an EPS of $0.03 for the current year.

Insider Trading Activity

In related news, Klaviyo's President, Stephen Eric Rowland, sold 4,536 shares on January 15th for an average price of $40.04, totaling about $181,621. Following the transaction, he now owns 260,403 shares valued at approximately $10,426,536.12. Additionally, CFO Amanda Whalen sold 15,000 shares on January 10th at an average price of $39.18, totaling $587,700. Following this sale, she holds 391,820 shares worth around $15,351,507.60. Insiders have sold a total of 114,536 shares over the past 90 days, representing approximately 53.24% of the company’s total ownership.

Institutional Investments

Notably, several large investors have adjusted their holdings in Klaviyo. Advisors Asset Management Inc. notably increased its stake by 145.6% during the third quarter, acquiring an additional 808 shares. CIBC Private Wealth Group LLC raised its holding by 169.5% in the fourth quarter, and Tower Research Capital LLC TRC increased its position by 77.5% during the same period. Currently, institutional investors own about 45.43% of Klaviyo stock.

Klaviyo Overview

Klaviyo, Inc. is a technology company offering a software-as-a-service platform in several regions, including the Americas, Asia-Pacific, Europe, the Middle East, and Africa. They provide a robust, cloud-native platform for data storage, segmentation, campaigns, and messaging infrastructure.

Klaviyo, Barclays, Investment