Klaviyo (NYSE:KVYO) Stock Price Up 4% – Should You Buy?

Klaviyo, Inc. (NYSE:KVYO)’s stock price shot up 4% during mid-day trading on Wednesday. The company traded as high as $16.66 and last traded at $16.50. Approximately 1,544,802 shares were traded during trading, a decline of 72% from the average session volume of 5,609,640 shares. The stock had previously closed at $15.87.

Analyst Upgrades and Downgrades

KVYO has been the topic of a number of analyst reports. Morgan Stanley set a $31.00 price objective on shares of Klaviyo in a research report on Thursday, August 6th. KeyCorp decreased their price target on shares of Klaviyo from $35.00 to $29.00 and set an “overweight” rating for the company in a research note on Thursday, August 6th. Piper Sandler dropped their price target on Klaviyo from $26.00 to $23.00 and set an “overweight” rating on the stock in a research report on Thursday, August 6th. TD Cowen reduced their target price on shares of Klaviyo from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Finally, Truist Financial decreased their target price on shares of Klaviyo from $35.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Klaviyo presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.14.

Klaviyo Price Performance

The business’s 50 day moving average price is $17.78 and its 200 day moving average price is $17.25. The stock has a market capitalization of $4.59 billion, a P/E ratio of 807.30 and a beta of 0.57.

Klaviyo (NYSE:KVYO) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.19 EPS for the quarter, hitting the consensus estimate of $0.19. Klaviyo had a return on equity of 5.67% and a net margin of 0.49%.The company had revenue of $370.58 million during the quarter, compared to analyst estimates of $362.08 million. During the same quarter in the previous year, the company posted $0.16 earnings per share. Klaviyo’s revenue was up 26.4% compared to the same quarter last year. As a group, analysts forecast that Klaviyo, Inc. will post 0.2 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Susan St. Ledger sold 2,328 shares of the stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $15.93, for a total transaction of $37,085.04. Following the completion of the sale, the director owned 23,433 shares in the company, valued at approximately $373,287.69. This trade represents a 9.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Summit Partners L. P sold 5,000,000 shares of Klaviyo stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $17.71, for a total transaction of $88,550,000.00. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 5,176,686 shares of company stock worth $92,104,340. 37.42% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Klaviyo

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Capital International Investors acquired a new stake in Klaviyo during the 4th quarter valued at approximately $415,254,000. Norges Bank purchased a new stake in shares of Klaviyo during the 4th quarter worth about $49,300,000. Capital World Investors acquired a new stake in Klaviyo in the fourth quarter valued at approximately $37,273,000. Fiera Capital Corp increased its holdings in Klaviyo by 87.7% in the 4th quarter. Fiera Capital Corp now owns 2,331,650 shares of the company’s stock worth $75,709,000 after acquiring an additional 1,089,704 shares in the last quarter. Finally, Squarepoint Ops LLC increased its stake in shares of Klaviyo by 1,343.5% during the second quarter. Squarepoint Ops LLC now owns 962,136 shares of the company’s stock worth $14,528,000 after purchasing an additional 895,485 shares in the last quarter. 45.43% of the stock is currently owned by hedge funds and other institutional investors.

Klaviyo Company Profile

Klaviyo, Inc is a technology company that provides a customer data and marketing automation platform for businesses. Its software helps brands collect, organize and analyze customer information, then use those insights to create targeted communications and personalized marketing campaigns.

The company’s platform supports marketing channels including email, SMS messaging, mobile push notifications and on-site experiences. Klaviyo also provides tools for customer segmentation, campaign automation, analytics and reporting, and integrates with e-commerce, payment and other business applications.

Klaviyo primarily serves consumer-focused businesses, including e-commerce brands, retailers and other companies seeking to build direct relationships with customers.