Klaviyo (NYSE:KVYO) Shares Up 4.6% - Here's Why

Key Points

• Klaviyo shares rose 4.6% to approximately $17.37, while trading volume was 36% below the average session volume.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $27.14; recent targets range from $25 to $32.
• Klaviyo met quarterly EPS expectations at $0.19 and exceeded revenue estimates with $370.58 million, representing 26.4% year-over-year growth.

Klaviyo, Inc. (NYSE:KVYO - Get Free Report) shares traded up 4.6% on Wednesday. The stock traded as high as $17.32 and last traded at $17.3650. 3,581,294 shares were traded during trading, a decline of 36% from the average session volume of 5,627,454 shares. The stock had previously closed at $16.60.

Analyst Upgrades and Downgrades

KVYO has been the subject of several recent research reports. Morgan Stanley set a $31.00 target price on shares of Klaviyo in a research report on Thursday, August 6th. Scotiabank set a $32.00 price target on shares of Klaviyo in a report on Wednesday, June 17th. BTIG Research reduced their price objective on shares of Klaviyo from $30.00 to $25.00 and set a "buy" rating for the company in a research note on Thursday, August 6th. Citigroup reiterated a "buy" rating on shares of Klaviyo in a report on Tuesday, September 8th. Finally, Weiss Ratings raised shares of Klaviyo from a "sell (d-)" rating to a "sell (d)" rating in a research report on Tuesday, September 8th. One equities research 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, Klaviyo has an average rating of "Moderate Buy" and an average price target of $27.14.

Klaviyo Price Performance

The company has a market cap of $4.96 billion, a price-to-earnings ratio of 874.44 and a beta of 0.67. The firm has a fifty day simple moving average of $17.56 and a 200 day simple moving average of $17.05.

Klaviyo (NYSE:KVYO - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.19 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.19. The business had revenue of $370.58 million during the quarter, compared to the consensus estimate of $362.08 million. Klaviyo had a net margin of 0.49% and a return on equity of 5.67%. Klaviyo's quarterly revenue was up 26.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.16 EPS. Analysts expect that Klaviyo, Inc. will post 0.2 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Amanda Whalen sold 14,000 shares of Klaviyo stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $18.47, for a total value of $258,580.00. Following the transaction, the chief financial officer directly owned 824,192 shares in the company, valued at approximately $15,222,826.24. The trade was a 1.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Landon Edmond sold 8,103 shares of the stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $20.44, for a total value of $165,625.32. Following the sale, the insider owned 477,866 shares of the company's stock, valued at approximately $9,767,581.04. The trade was a 1.67% 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 sold a total of 5,177,986 shares of company stock valued at $92,126,466 in the last quarter. Insiders own 37.42% of the company's stock.

Hedge Funds Weigh In On Klaviyo

Institutional investors and hedge funds have recently bought and sold shares of the stock. Capital World Investors acquired a new stake in Klaviyo during the fourth quarter valued at approximately $37,273,000. Squarepoint Ops LLC raised its holdings in shares of Klaviyo by 1,343.5% in the 2nd quarter. Squarepoint Ops LLC now owns 962,136 shares of the company's stock worth $14,528,000 after buying an additional 895,485 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Klaviyo by 88.9% during the 1st quarter. Bank of America Corp DE now owns 1,686,770 shares of the company's stock worth $32,825,000 after buying an additional 793,613 shares during the period. Bank of New York Mellon Corp acquired a new stake in Klaviyo in the 2nd quarter valued at $8,663,000. Finally, Barton Investment Management boosted its stake in Klaviyo by 56.7% in the 1st quarter. Barton Investment Management now owns 1,050,052 shares of the company's stock valued at $20,434,000 after buying an additional 380,010 shares in the last quarter. Institutional investors own 45.43% of the company's stock.

About Klaviyo

Klaviyo, Inc NYSE: KVYO provides a marketing automation and customer data platform designed primarily for businesses that sell directly to consumers. Its software helps companies collect, organize and analyze customer data, then use that information to create targeted and personalized marketing campaigns.

The company's platform supports email, SMS and mobile push messaging, as well as automated workflows, audience segmentation, customer analytics, sign-up forms and related campaign-management tools.

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