Klaviyo (NYSE:KVYO) Stock Jumps 4.6% – Still a Buy?

Klaviyo, Inc. (NYSE:KVYO)’s stock price shot up 4.6% during trading on Wednesday. The stock traded as high as $17.32 and last traded at $17.3650. 3,581,294 shares were traded during mid-day trading, a decline of 36% from the average daily volume of 5,627,454 shares. The stock had previously closed at $16.60.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on KVYO. Jefferies Financial Group reiterated a “buy” rating and set a $21.00 target price on shares of Klaviyo in a research report on Thursday, August 6th. Wall Street Zen cut shares of Klaviyo from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Wells Fargo & Company set a $29.00 price objective on shares of Klaviyo in a report on Thursday, August 6th. Piper Sandler reduced their target price on Klaviyo from $26.00 to $23.00 and set an “overweight” rating on the stock in a report on Thursday, August 6th. Finally, Citigroup restated a “buy” rating on shares of Klaviyo in a research report on Tuesday, September 8th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $27.14.

Klaviyo Stock Up 4.9%

The firm has a fifty day moving average of $17.56 and a 200-day moving average of $17.05. The firm has a market cap of $4.96 billion, a P/E ratio of 874.44 and a beta of 0.67.

Klaviyo (NYSE:KVYO) last released its earnings results on Wednesday, August 5th. The company reported $0.19 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.19. Klaviyo had a net margin of 0.49% and a return on equity of 5.67%. The company had revenue of $370.58 million for the quarter, compared to the consensus estimate of $362.08 million. During the same period in the prior year, the company posted $0.16 EPS. The company’s revenue was up 26.4% compared to the same quarter last year. Sell-side analysts anticipate that Klaviyo, Inc. will post 0.2 EPS for the current year.

Insiders Place Their Bets

In other Klaviyo news, Director Susan St. Ledger sold 2,328 shares of the firm’s stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $15.93, for a total value of $37,085.04. Following the transaction, the director directly owned 23,433 shares of the company’s stock, valued at approximately $373,287.69. This trade represents a 9.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Landon Edmond sold 53,473 shares of Klaviyo stock in a transaction on Friday, August 28th. The stock was sold at an average price of $20.01, for a total transaction of $1,069,994.73. Following the sale, the insider directly owned 485,969 shares of the company’s stock, valued at $9,724,239.69. This represents a 9.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 5,177,986 shares of company stock valued at $92,126,466 over the last three months. 37.42% of the stock is owned by insiders.

Hedge Funds Weigh In On Klaviyo

Hedge funds have recently added to or reduced their stakes in the stock. Congress Asset Management Co. boosted its holdings in Klaviyo by 21.8% during the third quarter. Congress Asset Management Co. now owns 774,660 shares of the company’s stock worth $12,185,000 after buying an additional 138,430 shares during the last quarter. Whetstone Capital Advisors LLC acquired a new stake in shares of Klaviyo in the 2nd quarter valued at approximately $1,343,000. Engineers Gate Manager LP boosted its stake in Klaviyo by 559.9% during the 2nd quarter. Engineers Gate Manager LP now owns 131,709 shares of the company’s stock worth $1,989,000 after acquiring an additional 111,749 shares during the last quarter. Integrated Wealth Concepts LLC boosted its stake in Klaviyo by 1.3% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 435,481 shares of the company’s stock worth $6,576,000 after acquiring an additional 5,661 shares during the last quarter. Finally, Squarepoint Ops LLC grew its holdings in Klaviyo by 1,343.5% during the second quarter. Squarepoint Ops LLC now owns 962,136 shares of the company’s stock valued at $14,528,000 after purchasing an additional 895,485 shares during the period. Institutional investors and hedge funds own 45.43% of the company’s stock.

About Klaviyo

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

The company’s platform supports email, SMS and mobile push messaging, as well as automated workflows, audience segmentation, customer analytics, sign-up forms and related campaign-management tools.