Klaviyo (NYSE:KVYO) Reaches New 1-Year High – Time to Buy?

Klaviyo, Inc. (NYSE:KVYO) hit a new 52-week high on Monday . The company traded as high as $45.98 and last traded at $45.99, with a volume of 475257 shares changing hands. The stock had previously closed at $43.67.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on KVYO. Canaccord Genuity Group raised their price objective on shares of Klaviyo from $32.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Needham & Company LLC lifted their price target on shares of Klaviyo from $40.00 to $46.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Scotiabank increased their price objective on Klaviyo from $35.00 to $45.00 and gave the company a “sector perform” rating in a research report on Wednesday. Morgan Stanley lifted their target price on Klaviyo from $38.00 to $47.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. Finally, Benchmark cut their target price on Klaviyo from $42.00 to $40.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $43.18.

Klaviyo Price Performance

The stock’s 50 day moving average is $40.50 and its two-hundred day moving average is $35.37. The firm has a market cap of $12.31 billion, a P/E ratio of -253.59 and a beta of 0.57.

Klaviyo (NYSE:KVYO) last released its quarterly earnings results 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. The business had revenue of $235.09 million during the quarter, compared to analysts’ expectations of $226.33 million. Klaviyo had a positive return on equity of 0.86% and a negative net margin of 5.23%. The firm’s revenue for the quarter was up 33.7% compared to the same quarter last year. During the same period in the previous year, the business posted ($1.24) earnings per share. As a group, research analysts forecast that Klaviyo, Inc. will post 0.03 EPS for the current fiscal year.

Insider Buying and Selling at Klaviyo

In other Klaviyo news, CFO Amanda Whalen sold 15,000 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $34.56, for a total value of $518,400.00. Following the completion of the sale, the chief financial officer now owns 395,616 shares in the company, valued at $13,672,488.96. This trade represents a 3.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, President Stephen Eric Rowland sold 4,536 shares of Klaviyo stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $34.56, for a total value of $156,764.16. Following the transaction, the president now owns 186,785 shares of the company’s stock, valued at $6,455,289.60. The trade was a 2.37 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 159,072 shares of company stock valued at $6,090,767. Corporate insiders own 53.24% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. grew its holdings in shares of 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 purchasing an additional 808 shares during the last quarter. nVerses Capital LLC bought a new stake in shares of Klaviyo in the 3rd quarter valued at about $53,000. West Tower Group LLC acquired a new stake in Klaviyo during the 3rd quarter valued at approximately $177,000. Victory Capital Management Inc. bought a new position in Klaviyo during the third quarter worth $208,000. Finally, William Marsh Rice University acquired a new position in shares of Klaviyo in the 3rd quarter valued at about $245,000. 45.43% of the stock is 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.