Klaviyo (NYSE:KVYO) Reaches New 52-Week Low at $21.87

Klaviyo, Inc. (NYSE:KVYO) hit a new 52-week low on Wednesday . The company traded as low as $21.87 and last traded at $22.20, with a volume of 577343 shares trading hands. The stock had previously closed at $23.38.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on KVYO shares. Morgan Stanley dropped their price target on shares of Klaviyo from $37.00 to $32.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 17th. William Blair reaffirmed an “outperform” rating on shares of Klaviyo in a report on Wednesday, February 28th. Scotiabank started coverage on shares of Klaviyo in a research report on Tuesday, April 2nd. They issued a “sector perform” rating and a $30.00 price target on the stock. FBN Securities initiated coverage on shares of Klaviyo in a research report on Wednesday, March 20th. They set an “outperform” rating and a $35.00 price objective for the company. Finally, KeyCorp started coverage on Klaviyo in a research note on Thursday, March 21st. They issued a “sector weight” rating for the company. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $36.88.

Klaviyo Trading Down 6.5 %

The business has a 50-day moving average price of $24.52 and a 200-day moving average price of $26.85.

Klaviyo (NYSE:KVYO) last released its quarterly earnings data on Tuesday, February 27th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.02. The company had revenue of $201.62 million during the quarter, compared to analyst estimates of $196.02 million. Research analysts anticipate that Klaviyo, Inc. will post -0.27 EPS for the current fiscal year.

Insider Activity

In other Klaviyo news, insider Landon Edmond sold 3,545 shares of Klaviyo stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $24.15, for a total transaction of $85,611.75. Following the sale, the insider now directly owns 167,127 shares of the company’s stock, valued at $4,036,117.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in KVYO. Salem Investment Counselors Inc. bought a new position in Klaviyo during the fourth quarter worth $25,000. New York State Common Retirement Fund bought a new position in shares of Klaviyo in the third quarter worth about $65,000. Skylands Capital LLC acquired a new stake in Klaviyo in the third quarter valued at approximately $172,000. Moody National Bank Trust Division bought a new stake in Klaviyo during the 4th quarter worth $231,000. Finally, Alberta Investment Management Corp acquired a new position in shares of Klaviyo in the third quarter valued at approximately $391,000. 45.43% of the stock is currently owned by institutional investors.

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.