Klaviyo (NYSE:KVYO) Stock Jumps 8.4% - Time to Buy?

Key Points

• Klaviyo shares jumped 8.4% to about $21.83, while trading volume remained below the stock’s average daily level.
• Analysts maintain a generally positive view, with a consensus “Moderate Buy” rating and an average price target of $27.05, despite several recent target reductions.
• The company’s latest quarter showed revenue of $370.6 million, up 26.4% year over year, while EPS matched estimates at $0.19. However, insiders sold substantial shares recently, including transactions conducted under pre-arranged 10b5-1 plans.

Shares of Klaviyo, Inc. (NYSE:KVYO - Get Free Report) shot up 8.4% during trading on Monday. The stock traded as high as $22.08 and last traded at $21.8270. 2,163,796 shares changed hands during mid-day trading, a decline of 61% from the average daily volume of 5,546,168 shares. The stock had previously closed at $20.14.

Analyst Ratings Changes

A number of brokerages have recently weighed in on KVYO. TD Cowen cut their price objective on Klaviyo from $27.00 to $26.00 and set a "buy" rating for the company in a research report on Thursday, August 6th. Piper Sandler cut their price target on Klaviyo from $26.00 to $23.00 and set an "overweight" rating for the company in a report on Thursday, August 6th. KeyCorp decreased their price objective on Klaviyo from $35.00 to $29.00 and set an "overweight" rating on the stock in a report on Thursday, August 6th. Stephens upped their price objective on Klaviyo from $24.00 to $25.00 and gave the company an "overweight" rating in a research report on Thursday, August 6th. Finally, Jefferies Financial Group restated a "buy" rating and set a $21.00 target price on shares of Klaviyo in a research report on Thursday, August 6th. Seventeen equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Klaviyo presently has a consensus rating of "Moderate Buy" and a consensus target price of $27.05.

Klaviyo Stock Up 8.2%

The company's 50-day moving average price is $17.82 and its 200-day moving average price is $18.07. The firm has a market cap of $6.20 billion, a price-to-earnings ratio of 1,082.84 and a beta of 0.49.

Klaviyo (NYSE:KVYO - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.19 EPS for the quarter, meeting the consensus estimate of $0.19. Klaviyo had a return on equity of 5.67% and a net margin of 0.49%. The business had revenue of $370.58 million for the quarter, compared to analyst estimates of $362.08 million. During the same quarter in the prior year, the company posted $0.16 EPS. The company's quarterly revenue was up 26.4% on a year-over-year basis. Analysts predict that Klaviyo, Inc. will post 0.20 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Amanda Whalen sold 14,000 shares of the business's stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $18.47, for a total value of $258,580.00. Following the completion of the transaction, the chief financial officer owned 824,192 shares of the company's stock, valued at approximately $15,222,826.24. The trade was a 1.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed 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, Director Ed Hallen sold 98,782 shares of Klaviyo stock in a transaction on Monday, August 31st. The shares were sold at an average price of $20.48, for a total value of $2,023,055.36. Following the completion of the sale, the director directly owned 94,457 shares of the company's stock, valued at approximately $1,934,479.36. This represents a 51.12% decrease in their position. 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 a total of 5,275,468 shares of company stock worth $93,822,653 in the last three months. Company insiders own 37.42% of the company's stock.

Hedge Funds Weigh In On Klaviyo

A number of hedge funds have recently made changes to their positions in the stock. Seelaus Asset Management LLC grew its position in Klaviyo by 3.3% during the third quarter. Seelaus Asset Management LLC now owns 19,944 shares of the company's stock valued at $314,000 after acquiring an additional 642 shares during the period. Chicago Partners Investment Group LLC raised its holdings in shares of Klaviyo by 6.8% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 12,054 shares of the company's stock worth $254,000 after purchasing an additional 767 shares during the period. Optiver Holding B.V. acquired a new position in shares of Klaviyo in the 1st quarter valued at about $39,000. State of Wyoming grew its holdings in shares of Klaviyo by 100.8% during the 3rd quarter. State of Wyoming now owns 4,554 shares of the company's stock worth $72,000 after purchasing an additional 2,286 shares during the period. Finally, Arizona State Retirement System increased its position in Klaviyo by 7.1% during the 2nd quarter. Arizona State Retirement System now owns 38,579 shares of the company's stock worth $583,000 after purchasing an additional 2,568 shares in the last quarter. Institutional investors and hedge funds own 45.43% of the company's stock.

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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