Klaviyo (NYSE:KVYO) Reaches New 12-Month High at $35.77

Klaviyo, Inc. (NYSE:KVYO) shares reached a new 52-week high on Monday . The company traded as high as $35.77 and last traded at $35.74, with a volume of 18400 shares. The stock had previously closed at $35.20.

Wall Street Analysts Forecast Growth

KVYO has been the topic of a number of research reports. Benchmark initiated coverage on Klaviyo in a report on Monday. They issued a “buy” rating and a $42.00 price objective on the stock. Piper Sandler raised their price target on shares of Klaviyo from $30.00 to $34.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. 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 note on Thursday, August 8th. Barclays increased their target price on shares of Klaviyo from $29.00 to $32.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Finally, Cantor Fitzgerald boosted their price target on Klaviyo from $31.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Three research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.00.

Klaviyo Price Performance

The company has a 50-day simple moving average of $30.57 and a 200-day simple moving average of $26.23.

Klaviyo (NYSE:KVYO) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $212.34 million. During the same period in the previous year, the business posted $0.09 earnings per share. The firm’s revenue for the quarter was up 35.0% compared to the same quarter last year. On average, equities research analysts expect that Klaviyo, Inc. will post -0.01 earnings per share for the current year.

Insider Activity

In related news, major shareholder Summit Partners L. P sold 242,601 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $31.78, for a total value of $7,709,859.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Klaviyo news, major shareholder Jeff Fagnan purchased 9,485 shares of the stock in a transaction dated Thursday, August 1st. The stock was bought at an average price of $26.43 per share, for a total transaction of $250,688.55. Following the transaction, the insider now directly owns 9,485 shares in the company, valued at $250,688.55. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Summit Partners L. P sold 242,601 shares of Klaviyo stock in a transaction on Friday, August 16th. The stock was sold at an average price of $31.78, for a total transaction of $7,709,859.78. The disclosure for this sale can be found here. Insiders have sold 843,363 shares of company stock valued at $26,583,602 over the last three months. 53.24% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in KVYO. Salem Investment Counselors Inc. increased its holdings in Klaviyo by 161.1% in the first quarter. Salem Investment Counselors Inc. now owns 2,350 shares of the company’s stock valued at $60,000 after purchasing an additional 1,450 shares during the last quarter. EntryPoint Capital LLC acquired a new position in shares of Klaviyo during the 1st quarter worth about $71,000. SG Americas Securities LLC bought a new stake in shares of Klaviyo in the 2nd quarter valued at about $236,000. SVB Wealth LLC acquired a new stake in shares of Klaviyo in the 1st quarter valued at approximately $299,000. Finally, Versor Investments LP bought a new position in Klaviyo during the 2nd quarter worth approximately $309,000. 45.43% of the stock is currently owned by 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.