Klaviyo (NYSE:KVYO) Stock Price Up 4.3% – What’s Next?

Klaviyo, Inc. (NYSE:KVYO)’s share price shot up 4.3% during trading on Tuesday . The company traded as high as $43.74 and last traded at $43.40. 853,646 shares changed hands during mid-day trading, a decline of 28% from the average session volume of 1,182,333 shares. The stock had previously closed at $41.63.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Stifel Nicolaus assumed coverage on Klaviyo in a research report on Tuesday, October 22nd. They set a “buy” rating and a $45.00 target price on the stock. Piper Sandler increased their price objective on shares of Klaviyo from $34.00 to $45.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Wells Fargo & Company reiterated a “buy” rating on shares of Klaviyo in a research report on Friday, October 18th. Macquarie restated a “neutral” rating and set a $36.00 price target on shares of Klaviyo in a research report on Friday, November 8th. Finally, Needham & Company LLC boosted their price objective on Klaviyo from $40.00 to $46.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $39.69.

Klaviyo Trading Up 1.9 %

The company has a market capitalization of $11.53 billion, a PE ratio of -237.65 and a beta of 0.97. The company has a fifty day simple moving average of $37.82 and a 200-day simple moving average of $31.51.

Klaviyo (NYSE:KVYO) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.04. Klaviyo had a negative net margin of 5.23% and a positive return on equity of 0.86%. The firm had revenue of $235.09 million during the quarter, compared to analyst estimates of $226.33 million. During the same quarter in the prior year, the firm posted ($1.24) earnings per share. Klaviyo’s quarterly revenue was up 33.7% on a year-over-year basis. On average, equities analysts predict that Klaviyo, Inc. will post 0.03 EPS for the current fiscal year.

Insider Transactions at Klaviyo

In other Klaviyo news, President Stephen Eric Rowland sold 4,536 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $34.56, for a total transaction of $156,764.16. Following the completion of the transaction, the president now owns 186,785 shares of the company’s stock, valued at $6,455,289.60. This trade represents a 2.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Amanda Whalen sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $35.36, for a total transaction of $353,600.00. Following the completion of the sale, the chief financial officer now directly owns 422,813 shares in the company, valued at $14,950,667.68. This trade represents a 2.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 127,650 shares of company stock worth $4,676,705 in the last 90 days. Insiders own 53.24% of the company’s stock.

Institutional Trading of Klaviyo

Several institutional investors have recently added to or reduced their stakes in KVYO. Advisors Asset Management Inc. grew its holdings in shares of Klaviyo by 145.6% in the third quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company’s stock valued at $48,000 after purchasing an additional 808 shares in the last quarter. nVerses Capital LLC purchased a new stake in shares of Klaviyo in the 3rd quarter valued at approximately $53,000. West Tower Group LLC acquired a new stake in shares of Klaviyo in the 3rd quarter valued at $177,000. Victory Capital Management Inc. purchased a new stake in shares of Klaviyo during the 3rd quarter worth $208,000. Finally, SG Americas Securities LLC acquired a new position in shares of Klaviyo during the second quarter worth $236,000. Institutional investors and hedge funds own 45.43% of the company’s stock.

About Klaviyo

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.