Klaviyo (NYSE:KVYO) Announces Quarterly Earnings Results

Klaviyo (NYSE:KVYO) released its quarterly earnings results on Wednesday. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.03, Briefing.com reports. The company had revenue of $210.00 million during the quarter, compared to analyst estimates of $202.08 million. Klaviyo’s revenue for the quarter was up 34.5% compared to the same quarter last year. Klaviyo updated its FY 2024 guidance to EPS and its Q2 2024 guidance to EPS.

Klaviyo Price Performance

NYSE KVYO traded up $2.55 on Thursday, reaching $24.08. The company’s stock had a trading volume of 3,324,635 shares, compared to its average volume of 1,151,375. The firm’s 50 day moving average is $24.40 and its two-hundred day moving average is $26.82. Klaviyo has a twelve month low of $21.51 and a twelve month high of $39.47.

Analyst Ratings Changes

A number of research firms have issued reports on KVYO. Morgan Stanley reduced their target price on shares of Klaviyo from $37.00 to $32.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 17th. Barclays decreased their target price on shares of Klaviyo from $32.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Thursday. Mizuho reduced their price target on Klaviyo from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Thursday. FBN Securities initiated coverage on Klaviyo in a research note on Wednesday, March 20th. They issued an “outperform” rating and a $35.00 target price for the company. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $31.00 price target on shares of Klaviyo in a report on Thursday. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $35.50.

Insider Activity

In other news, insider Landon Edmond sold 3,545 shares of the stock in a transaction on Friday, April 5th. The stock was sold at an average price of $24.15, for a total value of $85,611.75. Following the completion of the sale, the insider now owns 167,127 shares in the company, valued at $4,036,117.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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.