Klaviyo (NYSE:KVYO) Sets New 52-Week High – Should You Buy?

Klaviyo, Inc. (NYSE:KVYO) shares reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $39.19 and last traded at $38.85, with a volume of 83282 shares trading hands. The stock had previously closed at $38.27.

Analysts Set New Price Targets

KVYO has been the topic of several analyst reports. Barclays raised their price target on shares of Klaviyo from $32.00 to $41.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Needham & Company LLC restated a “buy” rating and issued a $40.00 price target on shares of Klaviyo in a research note on Wednesday, September 4th. Cantor Fitzgerald increased 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. Stifel Nicolaus began coverage on Klaviyo in a research report on Tuesday. They issued a “buy” rating and a $45.00 price objective for the company. Finally, Wells Fargo & Company reiterated a “buy” rating on shares of Klaviyo in a research report on Friday, October 18th. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $37.38.

Klaviyo Trading Up 0.9 %

The firm has a fifty day moving average price of $33.82 and a 200 day moving average price of $27.55. The firm has a market cap of $10.41 billion and a PE ratio of -27.68.

Klaviyo (NYSE:KVYO) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.10 by $0.05. Klaviyo had a negative net margin of 42.15% and a negative return on equity of 32.19%. The firm had revenue of $222.21 million for the quarter, compared to analyst estimates of $212.34 million. During the same quarter in the previous year, the company earned $0.09 EPS. The business’s revenue for the quarter was up 35.0% compared to the same quarter last year.

Insider Activity at Klaviyo

In other Klaviyo news, major shareholder Summit Partners L. P sold 1,300 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $31.64, for a total transaction of $41,132.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, major shareholder Jeff Fagnan bought 9,485 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was bought at an average cost of $26.43 per share, with a total value of $250,688.55. Following the transaction, the insider now directly owns 9,485 shares in the company, valued at $250,688.55. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Summit Partners L. P sold 1,300 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $31.64, for a total transaction of $41,132.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 871,477 shares of company stock worth $27,610,861. Company insiders own 53.24% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. nVerses Capital LLC purchased a new position in Klaviyo in the 3rd quarter valued at approximately $53,000. EntryPoint Capital LLC acquired a new stake in shares of Klaviyo in the first quarter valued at $71,000. Dark Forest Capital Management LP boosted its holdings in Klaviyo by 13.7% in the second quarter. Dark Forest Capital Management LP now owns 23,689 shares of the company’s stock valued at $590,000 after purchasing an additional 2,851 shares during the period. Arizona State Retirement System grew its stake in Klaviyo by 67.1% during the 2nd quarter. Arizona State Retirement System now owns 16,221 shares of the company’s stock worth $404,000 after purchasing an additional 6,512 shares in the last quarter. Finally, William Marsh Rice University purchased a new stake in Klaviyo during the 3rd quarter worth about $245,000. Institutional investors and hedge funds own 45.43% of the company’s stock.

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.