Klaviyo (NYSE:KVYO) Sets New 52-Week High – Should You Buy?

Klaviyo, Inc. (NYSE:KVYO) reached a new 52-week high during trading on Thursday . The stock traded as high as $39.19 and last traded at $38.85, with a volume of 83282 shares changing hands. The stock had previously closed at $38.27.

Analyst Ratings Changes

KVYO has been the subject of a number of recent research reports. KeyCorp raised shares of Klaviyo from a “sector weight” rating to an “overweight” rating and set a $33.00 price objective for the company in a research report on Thursday, August 8th. Stifel Nicolaus initiated coverage on Klaviyo in a research report on Tuesday. They set a “buy” rating and a $45.00 price target on the stock. Cantor Fitzgerald raised their price target on Klaviyo from $31.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Robert W. Baird upped their price objective 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 reiterated a “buy” rating and issued a $40.00 target price on shares of Klaviyo in a research note on Wednesday, September 4th. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $37.38.

Klaviyo Stock Up 1.5 %

The firm has a market cap of $10.28 billion and a price-to-earnings ratio of -27.66. The stock’s 50 day moving average is $33.68 and its 200 day moving average is $27.47.

Klaviyo (NYSE:KVYO) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.05. The company had revenue of $222.21 million for the quarter, compared to analysts’ expectations of $212.34 million. Klaviyo had a negative return on equity of 32.19% and a negative net margin of 42.15%. The firm’s revenue for the quarter was up 35.0% on a year-over-year basis. During the same period last year, the firm earned $0.09 EPS. Analysts anticipate that Klaviyo, Inc. will post -0.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CTO Allen Chaves sold 130,000 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $31.59, for a total transaction of $4,106,700.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Klaviyo news, CTO Allen Chaves sold 130,000 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $31.59, for a total value of $4,106,700.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Jeff Fagnan acquired 9,485 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were bought at an average price of $26.43 per share, with a total value of $250,688.55. Following the transaction, the insider now directly owns 9,485 shares in the company, valued at approximately $250,688.55. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 871,477 shares of company stock worth $27,610,861. 53.24% of the stock is owned by corporate insiders.

Institutional Trading of Klaviyo

Institutional investors and hedge funds have recently bought and sold shares of the stock. nVerses Capital LLC acquired a new position in shares of Klaviyo in the third quarter worth about $53,000. EntryPoint Capital LLC purchased a new stake in shares of Klaviyo in the 1st quarter valued at approximately $71,000. SG Americas Securities LLC acquired a new position in Klaviyo in the 2nd quarter worth approximately $236,000. William Marsh Rice University purchased a new position in Klaviyo during the 3rd quarter worth approximately $245,000. Finally, Creative Planning acquired a new stake in Klaviyo during the 3rd quarter valued at $254,000. 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.