Klaviyo (NYSE:KVYO) Trading 5.7% Higher - Still a Buy?

Key Points

• Klaviyo's stock rose 5.7% to last trade at $25.71, despite a significant decline in trading volume compared to its average.
• Nineteen analysts have rated Klaviyo stock as a Buy, with an average target price of $44.30, while some analysts have recently reduced their price targets.
• The company's recent quarterly earnings reported a loss with an EPS of $0.16 and revenue of $293.12 million, alongside a negative return on equity of 1.12%.

Shares of Klaviyo, Inc. (NYSE:KVYO - Get Free Report) were up 5.7% during trading on Tuesday . The stock traded as high as $25.36 and last traded at $25.71. Approximately 686,230 shares changed hands during trading, a decline of 68% from the average daily volume of 2,117,484 shares. The stock had previously closed at $24.33.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Stephens dropped their price objective on shares of Klaviyo from $45.00 to $43.00 and set an "overweight" rating on the stock in a report on Friday, September 26th. Stifel Nicolaus dropped their price target on Klaviyo from $45.00 to $40.00 and set a "buy" rating on the stock in a research note on Tuesday, July 15th. Citigroup raised Klaviyo from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $40.00 to $50.00 in a research report on Thursday, August 7th. Benchmark boosted their target price on Klaviyo from $44.00 to $46.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Finally, Macquarie reaffirmed a "neutral" rating and set a $37.00 price target on shares of Klaviyo in a research note on Wednesday, August 6th. Nineteen equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $44.30.

Klaviyo Trading Up 6.8%

The firm has a market capitalization of $7.79 billion, a price-to-earnings ratio of -103.73 and a beta of 1.26. The company's 50 day moving average is $30.17 and its 200-day moving average is $31.33.

Klaviyo (NYSE:KVYO - Get Free Report) last released its quarterly earnings data on Thursday, September 25th. The company reported $0.16 earnings per share (EPS) for the quarter. The firm had revenue of $293.12 million for the quarter. Klaviyo had a negative return on equity of 1.12% and a negative net margin of 6.19%. Research analysts expect that Klaviyo, Inc. will post 0.04 EPS for the current year.

Insider Transactions at Klaviyo

In other Klaviyo news, major shareholder Summit Partners L. P sold 4,000,000 shares of the stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $31.87, for a total transaction of $127,480,000.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Andrew Bialecki sold 226,702 shares of Klaviyo stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $31.50, for a total transaction of $7,141,113.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,741,781 shares of company stock worth $180,719,288. Company insiders own 53.24% of the company's stock.

Hedge Funds Weigh In On Klaviyo

Several hedge funds and other institutional investors have recently made changes to their positions in the company. TFC Financial Management Inc. acquired a new stake in shares of Klaviyo during the 1st quarter worth approximately $27,000. CWM LLC lifted its stake in Klaviyo by 227.5% during the first quarter. CWM LLC now owns 930 shares of the company's stock worth $28,000 after purchasing an additional 646 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of Klaviyo in the 2nd quarter valued at $31,000. First Horizon Advisors Inc. acquired a new stake in shares of Klaviyo in the 2nd quarter valued at $37,000. Finally, State of Wyoming bought a new position in shares of Klaviyo in the 1st quarter valued at $42,000. 45.43% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.