Klaviyo (NYSE:KVYO) Upgraded to Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded Klaviyo from “hold” to “buy.” Overall, analysts rate the stock “Moderate Buy,” with a consensus price target of $27.02.
• Klaviyo beat quarterly expectations, reporting earnings of $0.22 per share versus $0.17 expected and revenue of $387.21 million versus $380.02 million expected. Revenue increased 24.5% year over year.
• Company insiders sold 5.28 million shares worth about $93.8 million over the past three months; insiders retain 37.42% of the company’s shares.

Klaviyo (NYSE:KVYO - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued on Saturday, Wall Street Zen reports.

KVYO has been the topic of a number of other research reports. Needham & Company LLC reiterated a "buy" rating on shares of Klaviyo in a report on Wednesday, September 2nd. Stifel Nicolaus set a $22.00 price target on Klaviyo in a report on Thursday, September 10th. Barclays lifted their target price on Klaviyo from $22.00 to $23.00 and gave the stock an "overweight" rating in a research note on Thursday. Piper Sandler reduced their target price on Klaviyo from $26.00 to $23.00 and set an "overweight" rating for the company in a report on Thursday, August 6th. Finally, Weiss Ratings upgraded Klaviyo from a "sell (d-)" rating to a "sell (d)" rating in a research note on Tuesday, September 8th. Sixteen research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $27.02.

Klaviyo Price Performance

Shares of Klaviyo stock opened at $20.70 on Friday. The business has a fifty day simple moving average of $18.10 and a two-hundred day simple moving average of $17.97. Klaviyo has a 1 year low of $12.53 and a 1 year high of $33.35. The company has a market capitalization of $5.89 billion, a price-to-earnings ratio of 109.00 and a beta of 0.50.

Klaviyo (NYSE:KVYO - Get Free Report) last posted its quarterly earnings data on Wednesday, November 4th. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.17 by $0.05. Klaviyo had a return on equity of 5.67% and a net margin of 0.49%. The firm had revenue of $387.21 million during the quarter, compared to analysts' expectations of $380.02 million. During the same period in the prior year, the business earned $0.18 EPS. The company's revenue for the quarter was up 24.5% compared to the same quarter last year. As a group, equities analysts anticipate that Klaviyo will post 0.20 earnings per share for the current fiscal year.

Insider Activity at Klaviyo

In other Klaviyo news, Director Susan St. Ledger sold 2,328 shares of Klaviyo 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 of the company's stock, valued at approximately $373,287.69. The trade was a 9.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Landon Edmond sold 8,103 shares of Klaviyo stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $20.44, for a total transaction of $165,625.32. Following the transaction, the insider owned 477,866 shares in the company, valued at approximately $9,767,581.04. The trade was a 1.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 5,275,468 shares of company stock worth $93,822,653 over the last three months. Company insiders own 37.42% of the company's stock.

Institutional Trading of Klaviyo

Hedge funds and other institutional investors have recently modified their holdings of the business. Optiver Holding B.V. acquired a new stake in shares of Klaviyo during the 1st quarter worth about $39,000. Parallel Advisors LLC boosted its position in shares of Klaviyo by 30.1% during the 3rd quarter. Parallel Advisors LLC now owns 2,276 shares of the company's stock valued at $36,000 after acquiring an additional 526 shares during the last quarter. Rockefeller Capital Management L.P. boosted its position in Klaviyo by 2,641.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 3,207 shares of the company's stock valued at $104,000 after purchasing an additional 3,090 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Klaviyo by 2,085.1% in the first quarter. EverSource Wealth Advisors LLC now owns 3,802 shares of the company's stock valued at $74,000 after purchasing an additional 3,628 shares during the period. Finally, State of Wyoming grew its stake in shares of Klaviyo by 100.8% in the third quarter. State of Wyoming now owns 4,554 shares of the company's stock worth $72,000 after acquiring an additional 2,286 shares in the last quarter. 45.43% of the stock is owned by hedge funds and other institutional investors.

About Klaviyo

Klaviyo, Inc NYSE: KVYO provides a customer data and marketing automation platform designed primarily for businesses that sell online. Its software helps organizations collect, organize and analyze customer information, then use those insights to create personalized marketing and customer engagement campaigns.

The company's platform supports communication across channels including email, SMS and mobile push notifications. Its products provide tools for audience segmentation, campaign orchestration, automation, analytics and reporting, with capabilities intended to help businesses improve customer acquisition, engagement and retention.

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