Klaviyo (NYSE:KVYO) Trading Up 4% - Time to Buy?

Key Points

• Klaviyo shares rose 4% to $16.50, although trading volume was 72% below the stock’s average session volume. The company has a $4.70 billion market capitalization and trades at a very high price-to-earnings ratio of 823.91.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $27.14. Recent quarterly revenue reached $370.58 million, beating estimates and increasing 26.4% year over year, while adjusted earnings met expectations at $0.19 per share.
• Insiders have sold 5.18 million shares worth approximately $92.1 million over the past 90 days, though the transactions were conducted under pre-arranged Rule 10b5-1 plans. Institutional investors own 45.43% of Klaviyo, with several funds increasing their positions during the second quarter.

Klaviyo, Inc. (NYSE:KVYO - Get Free Report)'s share price rose 4% during trading on Wednesday . The stock traded as high as $16.66 and last traded at $16.50. 1,544,802 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 5,609,640 shares. The stock had previously closed at $15.87.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Needham & Company LLC reaffirmed a "buy" rating on shares of Klaviyo in a report on Wednesday, September 2nd. Citigroup reiterated a "buy" rating on shares of Klaviyo in a research report on Tuesday, September 8th. Barclays cut their price objective on Klaviyo from $25.00 to $22.00 and set an "overweight" rating for the company in a research report on Thursday, August 6th. Mizuho set a $28.00 target price on Klaviyo in a research note on Thursday, August 6th. Finally, Weiss Ratings upgraded Klaviyo from a "sell (d-)" rating to a "sell (d)" rating in a research report on Tuesday, September 8th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Klaviyo currently has a consensus rating of "Moderate Buy" and a consensus target price of $27.14.

Klaviyo Price Performance

The business has a fifty day simple moving average of $17.83 and a 200 day simple moving average of $17.31. The firm has a market cap of $4.70 billion, a price-to-earnings ratio of 823.91 and a beta of 0.57.

Klaviyo (NYSE:KVYO - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $0.19 earnings per share 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 the consensus estimate of $362.08 million. During the same quarter last year, the business posted $0.16 earnings per share. The business's quarterly revenue was up 26.4% compared to the same quarter last year. On average, research analysts anticipate that Klaviyo, Inc. will post 0.2 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 on Friday, September 11th. The shares were sold at an average price of $15.93, for a total transaction of $37,085.04. Following the sale, the director owned 23,433 shares of the company's stock, valued at $373,287.69. The trade was a 9.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ed Hallen sold 98,782 shares of the company's stock in a transaction on Monday, August 31st. The stock was sold at an average price of $20.48, for a total transaction of $2,023,055.36. Following the sale, the director directly owned 94,457 shares of the company's stock, valued at $1,934,479.36. The trade was a 51.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 5,176,686 shares of company stock worth $92,104,340 over the last 90 days. Corporate insiders own 37.42% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Whetstone Capital Advisors LLC purchased a new stake in shares of Klaviyo in the second quarter valued at approximately $1,343,000. Engineers Gate Manager LP lifted its position in Klaviyo by 559.9% during the second quarter. Engineers Gate Manager LP now owns 131,709 shares of the company's stock worth $1,989,000 after buying an additional 111,749 shares in the last quarter. Integrated Wealth Concepts LLC lifted its position in Klaviyo by 1.3% during the second quarter. Integrated Wealth Concepts LLC now owns 435,481 shares of the company's stock worth $6,576,000 after buying an additional 5,661 shares in the last quarter. Squarepoint Ops LLC boosted its stake in Klaviyo by 1,343.5% during the second 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 during the last quarter. Finally, Arizona State Retirement System increased its stake in shares of Klaviyo by 7.1% in the 2nd quarter. Arizona State Retirement System now owns 38,579 shares of the company's stock worth $583,000 after acquiring an additional 2,568 shares during the last quarter. 45.43% of the stock is currently owned by institutional investors and hedge funds.

Klaviyo Company Profile

Klaviyo, Inc is a technology company that provides a customer data and marketing automation platform for businesses. Its software helps brands collect, organize and analyze customer information, then use those insights to create targeted communications and personalized marketing campaigns.

The company's platform supports marketing channels including email, SMS messaging, mobile push notifications and on-site experiences. Klaviyo also provides tools for customer segmentation, campaign automation, analytics and reporting, and integrates with e-commerce, payment and other business applications.

Klaviyo primarily serves consumer-focused businesses, including e-commerce brands, retailers and other companies seeking to build direct relationships with customers.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.