Klaviyo (NYSE:KVYO) Trading 5.5% Higher – Should You Buy?

Klaviyo, Inc. (NYSE:KVYO)’s share price was up 5.5% during trading on Tuesday . The stock traded as high as $37.27 and last traded at $37.01. Approximately 847,869 shares were traded during mid-day trading, a decline of 27% from the average daily volume of 1,163,172 shares. The stock had previously closed at $35.09.

Analyst Ratings Changes

Several brokerages recently commented on KVYO. KeyCorp upgraded shares of Klaviyo from a “sector weight” rating to an “overweight” rating and set a $33.00 price target for the company in a research report on Thursday, August 8th. Benchmark dropped their price objective on Klaviyo from $42.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Needham & Company LLC raised their target price on Klaviyo from $40.00 to $46.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Stifel Nicolaus began coverage on Klaviyo in a research note on Tuesday, October 22nd. They set a “buy” rating and a $45.00 price target for the company. Finally, Cantor Fitzgerald raised their price objective on Klaviyo from $33.00 to $47.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Three analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.00.

Klaviyo Stock Performance

The stock’s fifty day moving average price is $35.53 and its 200-day moving average price is $28.97. The company has a market capitalization of $9.85 billion, a P/E ratio of -205.27 and a beta of 1.13.

Klaviyo (NYSE:KVYO) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.04. Klaviyo had a positive return on equity of 0.86% and a negative net margin of 5.23%. The business had revenue of $235.09 million for the quarter, compared to analysts’ expectations of $226.33 million. During the same quarter in the prior year, the business earned ($1.24) EPS. The firm’s revenue for the quarter was up 33.7% on a year-over-year basis. On average, research analysts predict that Klaviyo, Inc. will post -0.01 EPS for the current fiscal year.

Insider Activity

In other news, President Stephen Eric Rowland sold 18,114 shares of Klaviyo stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $31.67, for a total value of $573,670.38. Following the completion of the transaction, the president now directly owns 192,488 shares of the company’s stock, valued at approximately $6,096,094.96. This trade represents a 8.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Amanda Whalen sold 10,000 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $29.72, for a total value of $297,200.00. Following the transaction, the chief financial officer now owns 422,813 shares in the company, valued at $12,566,002.36. The trade was a 2.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 659,711 shares of company stock worth $21,036,946. 53.24% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in KVYO. Advisors Asset Management Inc. raised its holdings in shares of Klaviyo by 145.6% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company’s stock worth $48,000 after acquiring an additional 808 shares during the last quarter. nVerses Capital LLC bought a new stake in Klaviyo during the 3rd quarter worth approximately $53,000. EntryPoint Capital LLC bought a new stake in Klaviyo during the first quarter worth $71,000. Dark Forest Capital Management LP raised its position in Klaviyo by 13.7% in the 2nd quarter. Dark Forest Capital Management LP now owns 23,689 shares of the company’s stock valued at $590,000 after buying an additional 2,851 shares during the last quarter. Finally, West Tower Group LLC purchased a new position in Klaviyo during the 3rd quarter worth $177,000. 45.43% of the stock is 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.