Klaviyo (NYSE:KVYO) Shares Up 4% – Time to Buy?

Klaviyo, Inc. (NYSE:KVYO) shares traded 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 changed hands during mid-day trading, a decline of 72% from the average session volume of 5,609,640 shares. The stock had previously closed at $15.87.

Wall Street Analysts Forecast Growth

KVYO has been the topic of a number of analyst reports. Piper Sandler reduced their target price on shares of Klaviyo from $26.00 to $23.00 and set an “overweight” rating on the stock in a research note on Thursday, August 6th. Wall Street Zen cut shares of Klaviyo from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. KeyCorp reduced their price target on shares of Klaviyo from $35.00 to $29.00 and set an “overweight” rating on the stock in a research report on Thursday, August 6th. Jefferies Financial Group reiterated a “buy” rating and issued a $21.00 price objective on shares of Klaviyo in a report on Thursday, August 6th. Finally, BTIG Research lowered their price objective on Klaviyo from $30.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $27.14.

Klaviyo Price Performance

The company has a market cap of $4.70 billion, a PE ratio of 823.91 and a beta of 0.57. The company’s 50 day simple moving average is $17.83 and its two-hundred day simple moving average is $17.31.

Klaviyo (NYSE:KVYO) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.19 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.19. The business had revenue of $370.58 million during the quarter, compared to analysts’ expectations of $362.08 million. Klaviyo had a net margin of 0.49% and a return on equity of 5.67%. The business’s revenue for the quarter was up 26.4% on a year-over-year basis. During the same period last year, the business earned $0.16 earnings per share. Sell-side analysts expect that Klaviyo, Inc. will post 0.2 EPS for the current fiscal year.

Insider Transactions at Klaviyo

In related news, major shareholder Summit Partners L. P sold 5,000,000 shares of Klaviyo stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $17.71, for a total value of $88,550,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Susan St. Ledger sold 2,328 shares of the business’s stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $15.93, for a total value of $37,085.04. Following the completion of the sale, the director directly owned 23,433 shares in the company, valued at approximately $373,287.69. The trade was a 9.04% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 5,176,686 shares of company stock worth $92,104,340 in the last three months. Company insiders own 37.42% of the company’s stock.

Hedge Funds Weigh In On Klaviyo

Several hedge funds have recently bought and sold shares of KVYO. Optiver Holding B.V. purchased a new position in Klaviyo in the 1st quarter valued at approximately $39,000. Rockefeller Capital Management L.P. increased its position in shares of Klaviyo by 2,641.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 3,207 shares of the company’s stock worth $104,000 after acquiring an additional 3,090 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of Klaviyo by 2,085.1% during the first quarter. EverSource Wealth Advisors LLC now owns 3,802 shares of the company’s stock worth $74,000 after acquiring an additional 3,628 shares during the period. Nykredit A S acquired a new stake in shares of Klaviyo in the second quarter valued at $90,000. Finally, Headlands Technologies LLC acquired a new stake in shares of Klaviyo in the second quarter valued at $173,000. Institutional investors and hedge funds own 45.43% of the company’s stock.

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.