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

Klaviyo (NYSE:KVYO) had its price objective cut by stock analysts at Mizuho from $40.00 to $35.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Mizuho’s target price indicates a potential upside of 62.56% from the stock’s current price.

A number of other analysts have also recently commented on the stock. William Blair restated an “outperform” rating on shares of Klaviyo in a report on Wednesday, February 28th. KeyCorp assumed coverage on Klaviyo in a research note on Thursday, March 21st. They set a “sector weight” rating for the company. The Goldman Sachs Group raised shares of Klaviyo from a “neutral” rating to a “buy” rating and set a $36.00 price objective for the company in a research report on Monday, February 5th. FBN Securities started coverage on shares of Klaviyo in a research report on Wednesday, March 20th. They set an “outperform” rating and a $35.00 price objective on the stock. Finally, Cantor Fitzgerald initiated coverage on shares of 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 assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $36.25.

Klaviyo Price Performance

NYSE KVYO opened at $21.53 on Thursday. The business’s 50-day moving average is $24.52 and its 200 day moving average is $26.85. Klaviyo has a 1 year low of $21.51 and a 1 year high of $39.47.

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

Insider Buying and Selling

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

Institutional Trading of Klaviyo

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