Klaviyo (NYSE:KVYO) Stock Jumps 8.4% – Time to Buy?

Klaviyo, Inc. (NYSE:KVYO)’s share price shot up 8.4% during mid-day trading on Monday. The stock traded as high as $22.08 and last traded at $21.8270. 2,163,796 shares were traded during mid-day trading, a decline of 61% from the average daily volume of 5,546,168 shares. The stock had previously closed at $20.14.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on KVYO. Needham & Company LLC reaffirmed a “buy” rating on shares of Klaviyo in a research report on Wednesday, September 2nd. Robert W. Baird set a $25.00 price target on Klaviyo in a report on Thursday, August 6th. Wall Street Zen downgraded shares of Klaviyo from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Citigroup lifted their price objective on shares of Klaviyo from $36.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, October 28th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $21.00 target price on shares of Klaviyo in a research report on Thursday, August 6th. Seventeen research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Klaviyo currently has an average rating of “Moderate Buy” and a consensus target price of $27.05.

Klaviyo Stock Performance

The firm has a fifty day simple moving average of $17.82 and a 200-day simple moving average of $18.07. The company has a market capitalization of $6.20 billion, a PE ratio of 1,082.84 and a beta of 0.49.

Klaviyo (NYSE:KVYO) last released its earnings results on Wednesday, August 5th. The company reported $0.19 EPS for the quarter, meeting the consensus estimate of $0.19. Klaviyo had a return on equity of 5.67% and a net margin of 0.49%. The company had revenue of $370.58 million during the quarter, compared to analysts’ expectations of $362.08 million. During the same period in the prior year, the business posted $0.16 EPS. The business’s revenue was up 26.4% on a year-over-year basis. As a group, research analysts anticipate that Klaviyo, Inc. will post 0.20 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Amanda Whalen sold 14,000 shares of Klaviyo stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $18.47, for a total value of $258,580.00. Following the completion of the transaction, the chief financial officer directly owned 824,192 shares in the company, valued at approximately $15,222,826.24. This trade represents a 1.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, major shareholder Summit Partners L. P sold 5,000,000 shares of the business’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $17.71, for a total value of $88,550,000.00. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 5,275,468 shares of company stock valued at $93,822,653. 37.42% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of KVYO. Optiver Holding B.V. acquired a new position in shares of Klaviyo in the 1st quarter valued at about $39,000. Rockefeller Capital Management L.P. raised its stake in Klaviyo by 2,641.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 3,207 shares of the company’s stock worth $104,000 after acquiring an additional 3,090 shares during the period. EverSource Wealth Advisors LLC raised its stake in Klaviyo by 2,085.1% during the first quarter. EverSource Wealth Advisors LLC now owns 3,802 shares of the company’s stock worth $74,000 after acquiring an additional 3,628 shares during the period. State of Wyoming grew its holdings in shares of Klaviyo by 100.8% during the third quarter. State of Wyoming now owns 4,554 shares of the company’s stock valued at $72,000 after purchasing an additional 2,286 shares during the last quarter. Finally, Nykredit A S bought a new position in shares of Klaviyo during the second quarter valued at approximately $90,000. 45.43% of the stock is currently owned by institutional investors.

Klaviyo Company Profile

Klaviyo, Inc (NYSE: KVYO) provides a customer data and marketing automation platform designed primarily for businesses that sell online. Its software helps organizations collect, organize and analyze customer information, then use those insights to create personalized marketing and customer engagement campaigns.

The company’s platform supports communication across channels including email, SMS and mobile push notifications. Its products provide tools for audience segmentation, campaign orchestration, automation, analytics and reporting, with capabilities intended to help businesses improve customer acquisition, engagement and retention.