Klaviyo (NYSE:KVYO) Sets New 1-Year High at $35.77

Klaviyo, Inc. (NYSE:KVYO) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $35.77 and last traded at $35.74, with a volume of 18400 shares. The stock had previously closed at $35.20.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on KVYO shares. Barclays lifted their target price on Klaviyo from $29.00 to $32.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Piper Sandler upped their target price on Klaviyo from $30.00 to $34.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Cantor Fitzgerald upped their price target on Klaviyo from $31.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Needham & Company LLC reiterated a “buy” rating and set a $40.00 price target on shares of Klaviyo in a report on Wednesday, September 4th. Finally, KeyCorp upgraded Klaviyo from a “sector weight” rating to an “overweight” rating and set a $33.00 target price for the company in a research note on Thursday, August 8th. Three research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, Klaviyo presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.00.

Klaviyo Stock Performance

The firm has a fifty day moving average price of $30.17 and a 200 day moving average price of $26.07.

Klaviyo (NYSE:KVYO) last announced its earnings results on Wednesday, August 7th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.10 by $0.05. The company had revenue of $222.21 million for the quarter, compared to analysts’ expectations of $212.34 million. Klaviyo had a negative return on equity of 32.19% and a negative net margin of 42.15%. The business’s revenue for the quarter was up 35.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.09 earnings per share. On average, research analysts expect that Klaviyo, Inc. will post -0.01 EPS for the current fiscal year.

Insider Activity at Klaviyo

In other Klaviyo news, CTO Allen Chaves sold 130,000 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $31.85, for a total value of $4,140,500.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, major shareholder Jeff Fagnan bought 9,485 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were purchased at an average price of $26.43 per share, with a total value of $250,688.55. Following the completion of the purchase, the insider now owns 9,485 shares of the company’s stock, valued at approximately $250,688.55. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CTO Allen Chaves sold 130,000 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $31.85, for a total value of $4,140,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 843,363 shares of company stock worth $26,583,602 over the last 90 days. Insiders own 53.24% of the company’s stock.

Institutional Investors Weigh In On Klaviyo

Hedge funds have recently modified their holdings of the business. Janus Henderson Group PLC acquired a new stake in shares of Klaviyo during the first quarter worth about $662,000. Swiss National Bank acquired a new stake in shares of Klaviyo during the first quarter worth about $1,776,000. Claro Advisors LLC acquired a new stake in shares of Klaviyo during the first quarter worth about $23,510,000. Norges Bank acquired a new stake in shares of Klaviyo during the fourth quarter worth about $21,258,000. Finally, Blair William & Co. IL raised its position in shares of Klaviyo by 1,234.0% during the first quarter. Blair William & Co. IL now owns 175,531 shares of the company’s stock worth $4,473,000 after purchasing an additional 162,373 shares during the period. Institutional investors and hedge funds own 45.43% of the company’s stock.

Klaviyo Company Profile

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.