Klaviyo (NYSE:KVYO) Shares Up 6.3% – Still a Buy?

Klaviyo, Inc. (NYSE:KVYO) shot up 6.3% during mid-day trading on Tuesday . The stock traded as high as $46.38 and last traded at $46.06. 490,610 shares changed hands during mid-day trading, a decline of 41% from the average session volume of 838,568 shares. The stock had previously closed at $43.32.

Wall Street Analyst Weigh In

KVYO has been the subject of a number of analyst reports. KeyCorp increased their price objective on shares of Klaviyo from $42.00 to $45.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Loop Capital increased their price objective on shares of Klaviyo from $45.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, December 23rd. Robert W. Baird increased their price objective on shares of Klaviyo from $42.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Piper Sandler increased their price objective on shares of Klaviyo from $45.00 to $50.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Finally, Stifel Nicolaus started coverage on shares of Klaviyo in a research note on Tuesday, October 22nd. They set a “buy” rating and a $45.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $43.18.

Klaviyo Stock Performance

The company’s fifty day moving average price is $40.72 and its 200-day moving average price is $35.45. The stock has a market cap of $12.73 billion, a P/E ratio of -262.31 and a beta of 0.57.

Klaviyo (NYSE:KVYO) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.15 earnings per share 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 company had revenue of $235.09 million during the quarter, compared to analyst estimates of $226.33 million. During the same quarter last year, the business posted ($1.24) EPS. The firm’s revenue for the quarter was up 33.7% on a year-over-year basis. Analysts anticipate that Klaviyo, Inc. will post 0.03 earnings per share for the current fiscal year.

Insider Activity at Klaviyo

In other Klaviyo news, CFO Amanda Whalen sold 1,050 shares of the firm’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $40.07, for a total transaction of $42,073.50. Following the transaction, the chief financial officer now owns 395,616 shares of the company’s stock, valued at approximately $15,852,333.12. This trade represents a 0.26 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Stephen Eric Rowland sold 4,536 shares of Klaviyo stock in a transaction that occurred on Monday, November 18th. The stock was 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 directly owns 186,785 shares in the company, valued at approximately $6,455,289.60. The trade was a 2.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 159,072 shares of company stock worth $6,090,767 in the last 90 days. 53.24% of the stock is owned by corporate insiders.

Institutional Trading of Klaviyo

Several institutional investors and hedge funds have recently bought and sold shares of KVYO. Advisors Asset Management Inc. lifted its stake in Klaviyo by 145.6% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company’s stock valued at $48,000 after acquiring an additional 808 shares during the period. nVerses Capital LLC acquired a new position in shares of Klaviyo in the 3rd quarter valued at $53,000. West Tower Group LLC acquired a new position in shares of Klaviyo in the 3rd quarter valued at $177,000. Victory Capital Management Inc. acquired a new position in shares of Klaviyo in the 3rd quarter valued at $208,000. Finally, William Marsh Rice University acquired a new position in shares of Klaviyo in the 3rd quarter valued at $245,000. 45.43% of the stock is currently owned by institutional investors and hedge funds.

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.