Neutral kaon photoproduction off the nucleon and deuteron has been reinvestigated by utilizing the new experimental data on both targets. An isobar model for elementary operator and impulse approximation for the reaction on the deuteron have been used. The available free parameters in the elementary model have been extracted from both elementary and deuteron data. In contrast to the elementary reaction, fitting the deuteron data requires an inclusion of weighting factor. The result indicates that the angular distribution of the elementary K0 Λ process does not show backward peaking behavior.