Klaviyo, Inc. (NYSE:KVYO – Get Free Report)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $39.92 and last traded at $39.58, with a volume of 103620 shares traded. The stock had previously closed at $39.25.
Wall Street Analysts Forecast Growth
KVYO has been the topic of a number of research analyst reports. Wells Fargo & Company reaffirmed a “buy” rating on shares of Klaviyo in a research note on Friday, October 18th. Macquarie initiated coverage on Klaviyo in a research note on Thursday. They issued a “neutral” rating and a $36.00 price target on the stock. Piper Sandler lifted their price target on Klaviyo from $34.00 to $45.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Robert W. Baird lifted their price target on Klaviyo from $35.00 to $42.00 and gave the stock an “outperform” rating in a research note on Thursday, October 10th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $40.00 price target on shares of Klaviyo in a research note on Wednesday, September 4th. Three investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $37.29.
Check Out Our Latest Analysis on KVYO
Klaviyo Stock Performance
Klaviyo (NYSE:KVYO – Get Free Report) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.10 by $0.05. Klaviyo had a negative return on equity of 32.19% and a negative net margin of 42.15%. The business had revenue of $222.21 million for the quarter, compared to analyst estimates of $212.34 million. During the same quarter in the prior year, the company posted $0.09 EPS. The company’s quarterly revenue was up 35.0% on a year-over-year basis. On average, research analysts forecast that Klaviyo, Inc. will post -0.01 earnings per share for the current year.
Insider Activity at Klaviyo
In related news, major shareholder Summit Partners L. P sold 242,601 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $31.78, for a total value of $7,709,859.78. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Klaviyo news, CTO Allen Chaves sold 130,000 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $31.59, for a total transaction of $4,106,700.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Summit Partners L. P sold 242,601 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $31.78, for a total value of $7,709,859.78. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 871,477 shares of company stock worth $27,610,861. 53.24% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Klaviyo
Several large investors have recently bought and sold shares of KVYO. Bank of New York Mellon Corp increased its holdings in Klaviyo by 677.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,762,128 shares of the company’s stock worth $68,749,000 after purchasing an additional 2,406,973 shares during the period. Glynn Capital Management LLC increased its holdings in Klaviyo by 291.3% during the 1st quarter. Glynn Capital Management LLC now owns 1,139,307 shares of the company’s stock worth $29,030,000 after purchasing an additional 848,152 shares during the period. Millennium Management LLC increased its holdings in Klaviyo by 53.6% during the 2nd quarter. Millennium Management LLC now owns 1,120,485 shares of the company’s stock worth $27,889,000 after purchasing an additional 390,849 shares during the period. Claro Advisors LLC increased its holdings in Klaviyo by 38.7% during the 2nd quarter. Claro Advisors LLC now owns 1,280,035 shares of the company’s stock worth $31,860,000 after purchasing an additional 357,355 shares during the period. Finally, Whale Rock Capital Management LLC increased its holdings in Klaviyo by 122.0% during the 1st quarter. Whale Rock Capital Management LLC now owns 579,113 shares of the company’s stock worth $14,756,000 after purchasing an additional 318,217 shares during the period. Hedge funds and other institutional investors own 45.43% of the company’s stock.
Klaviyo Company Profile
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.
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