Klaviyo (NYSE:KVYO) Hits New 52-Week High – Still a Buy?

Klaviyo, Inc. (NYSE:KVYO) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $40.38 and last traded at $39.75, with a volume of 80355 shares trading hands. The stock had previously closed at $39.19.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Robert W. Baird boosted their price target on shares of Klaviyo from $42.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday. Macquarie reissued a “neutral” rating and issued a $36.00 price target on shares of Klaviyo in a report on Friday. Barclays boosted their price target on shares of Klaviyo from $32.00 to $41.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Cantor Fitzgerald boosted their price target on shares of Klaviyo from $33.00 to $47.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Canaccord Genuity Group boosted their price target on shares of Klaviyo from $32.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday. Three investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, Klaviyo currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.00.

Klaviyo Stock Down 1.2 %

The stock’s 50-day simple moving average is $35.17 and its 200 day simple moving average is $28.59. The company has a market cap of $8.90 billion, a price-to-earnings ratio of -23.66 and a beta of 1.13.

Klaviyo (NYSE:KVYO) last posted its earnings results on Wednesday, August 7th. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.05. Klaviyo had a negative net margin of 42.15% and a negative return on equity of 32.19%. The company had revenue of $222.21 million for the quarter, compared to analysts’ expectations of $212.34 million. During the same quarter in the prior year, the company posted $0.09 earnings per share. Klaviyo’s revenue for the quarter was up 35.0% compared to the same quarter last year. On average, sell-side analysts expect that Klaviyo, Inc. will post -0.01 EPS for the current fiscal year.

Insider Buying and Selling at Klaviyo

In other news, President Stephen Eric Rowland sold 18,114 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $37.19, for a total transaction of $673,659.66. Following the sale, the president now owns 192,488 shares of the company’s stock, valued at approximately $7,158,628.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Amanda Whalen sold 10,000 shares of the stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $35.36, for a total transaction of $353,600.00. Following the sale, the chief financial officer now owns 422,813 shares of the company’s stock, valued at approximately $14,950,667.68. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Stephen Eric Rowland sold 18,114 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $37.19, for a total transaction of $673,659.66. Following the sale, the president now directly owns 192,488 shares in the company, valued at $7,158,628.72. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 789,711 shares of company stock valued at $25,143,646 over the last 90 days. 53.24% of the stock is owned by insiders.

Institutional Investors Weigh In On Klaviyo

Large investors have recently modified their holdings of the company. Advisors Asset Management Inc. increased its holdings in 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 buying an additional 808 shares during the last quarter. nVerses Capital LLC purchased a new position in Klaviyo in the third quarter valued at $53,000. EntryPoint Capital LLC purchased a new position in Klaviyo in the first quarter valued at $71,000. Victory Capital Management Inc. purchased a new position in Klaviyo in the third quarter valued at $208,000. Finally, SG Americas Securities LLC purchased a new position in Klaviyo in the second quarter valued at $236,000. 45.43% of the stock is owned by hedge funds and other institutional investors.

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.