Klaviyo (NYSE:KVYO) Trading Down 6.3% - Here's Why

Key Points

• Shares of Klaviyo, Inc. (NYSE:KVYO) fell by 6.3%, trading at $30.31, with a notable decline in trading volume.
• Analysts have mixed views, with Cantor Fitzgerald upgrading the stock to "overweight" with a price target of $48.00, while others like Stifel Nicolaus reduced their price target to $40.00.
• Klaviyo's recent quarterly earnings showed a 31.9% year-over-year revenue increase to $293.12 million, beating expectations, despite having a negative net margin of 6.19%.

Shares of Klaviyo, Inc. (NYSE:KVYO - Get Free Report) dropped 6.3% on Monday . The stock traded as low as $30.51 and last traded at $30.31. Approximately 1,473,547 shares changed hands during mid-day trading, a decline of 21% from the average daily volume of 1,862,748 shares. The stock had previously closed at $32.35.

Analyst Upgrades and Downgrades

KVYO has been the subject of several research analyst reports. Cantor Fitzgerald upgraded shares of Klaviyo to an "overweight" rating and set a $48.00 price objective for the company in a research report on Tuesday, June 3rd. Macquarie restated a "neutral" rating and issued a $37.00 price objective on shares of Klaviyo in a research report on Wednesday, August 6th. Stifel Nicolaus dropped their price objective on shares of Klaviyo from $45.00 to $40.00 and set a "buy" rating for the company in a research report on Tuesday, July 15th. Citigroup upgraded shares of Klaviyo from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $40.00 to $50.00 in a research report on Thursday. Finally, Barclays boosted their price objective on shares of Klaviyo from $35.00 to $38.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 7th. Three equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $43.65.

Klaviyo Stock Performance

The stock's 50-day moving average is $33.05 and its 200 day moving average is $34.61. The firm has a market cap of $8.92 billion, a P/E ratio of -120.19 and a beta of 1.36.

Klaviyo (NYSE:KVYO - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.16 EPS for the quarter, beating analysts' consensus estimates of $0.13 by $0.03. Klaviyo had a negative net margin of 6.19% and a negative return on equity of 1.12%. The business had revenue of $293.12 million during the quarter, compared to analysts' expectations of $275.97 million. During the same quarter in the prior year, the company earned $0.15 EPS. The firm's quarterly revenue was up 31.9% on a year-over-year basis. On average, research analysts anticipate that Klaviyo, Inc. will post 0.04 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Amanda Whalen sold 15,000 shares of the company's stock in a transaction on Friday, July 11th. The shares were sold at an average price of $31.66, for a total value of $474,900.00. Following the completion of the transaction, the chief financial officer directly owned 517,831 shares of the company's stock, valued at approximately $16,394,529.46. This represents a 2.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Carmel Galvin sold 11,156 shares of the company's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $35.01, for a total transaction of $390,571.56. Following the completion of the transaction, the insider directly owned 711,805 shares of the company's stock, valued at approximately $24,920,293.05. The trade was a 1.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,094,418 shares of company stock worth $268,580,202 over the last 90 days. 49.92% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Klaviyo

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KVYO. TFC Financial Management Inc. acquired a new position in Klaviyo in the 1st quarter worth $27,000. CWM LLC boosted its stake in Klaviyo by 227.5% in the 1st quarter. CWM LLC now owns 930 shares of the company's stock worth $28,000 after purchasing an additional 646 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in Klaviyo in the 2nd quarter worth $31,000. First Horizon Advisors Inc. acquired a new position in shares of Klaviyo during the 2nd quarter worth about $37,000. Finally, State of Wyoming acquired a new position in shares of Klaviyo during the 1st quarter worth about $42,000. 45.43% of the stock is 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.

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