Klaviyo (NYSE:KVYO) Reaches New 12-Month Low at $22.02

Klaviyo, Inc. (NYSE:KVYO)’s stock price reached a new 52-week low during trading on Thursday . The stock traded as low as $22.02 and last traded at $22.08, with a volume of 230597 shares changing hands. The stock had previously closed at $22.60.

Analyst Upgrades and Downgrades

Several analysts have issued reports on KVYO shares. The Goldman Sachs Group upgraded shares of Klaviyo from a “neutral” rating to a “buy” rating and set a $36.00 price target on the stock in a research report on Monday, February 5th. Scotiabank assumed coverage on Klaviyo in a research report on Tuesday, April 2nd. They set a “sector perform” rating and a $30.00 target price on the stock. KeyCorp initiated coverage on Klaviyo in a report on Thursday, March 21st. They issued a “sector weight” rating for the company. Piper Sandler reissued an “overweight” rating and set a $38.00 price objective on shares of Klaviyo in a report on Wednesday, February 28th. Finally, Barclays cut their target price on Klaviyo from $37.00 to $32.00 and set an “equal weight” rating for the company in a research note on Friday, January 12th. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $36.88.

Klaviyo Stock Down 0.1 %

The business’s 50 day moving average price is $24.87 and its 200-day moving average price is $27.07.

Klaviyo (NYSE:KVYO) last issued its quarterly earnings data on Tuesday, February 27th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate 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. On average, sell-side analysts forecast that Klaviyo, Inc. will post -0.27 EPS for the current fiscal year.

Insider Activity at Klaviyo

In other Klaviyo news, insider Landon Edmond sold 3,545 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 167,127 shares in the company, valued at approximately $4,036,117.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of KVYO. Salem Investment Counselors Inc. acquired a new position in shares of Klaviyo during the fourth quarter valued at $25,000. New York State Common Retirement Fund bought a new stake in Klaviyo during the 3rd quarter worth about $65,000. Skylands Capital LLC acquired a new position in Klaviyo during the 3rd quarter valued at about $172,000. Moody National Bank Trust Division boosted its stake in shares of Klaviyo by 87.9% in the 1st quarter. Moody National Bank Trust Division now owns 15,639 shares of the company’s stock valued at $398,000 after purchasing an additional 7,316 shares during the last quarter. Finally, Alberta Investment Management Corp acquired a new stake in shares of Klaviyo during the 3rd quarter worth approximately $391,000. 45.43% of the stock is currently owned by institutional investors.

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.