Klaviyo (NYSE:KVYO) Shares Gap Down on Analyst Downgrade

Klaviyo, Inc. (NYSE:KVYO - Get Free Report) gapped down before the market opened on Thursday after Benchmark lowered their price target on the stock from $42.00 to $40.00. The stock had previously closed at $40.36, but opened at $34.30. Benchmark currently has a buy rating on the stock. Klaviyo shares last traded at $32.15, with a volume of 1,002,362 shares traded.

Other equities analysts also recently issued research reports about the stock. Macquarie initiated coverage on shares of Klaviyo in a report on Thursday, October 31st. They issued a "neutral" rating and a $36.00 price target on the stock. Cantor Fitzgerald boosted their price target on Klaviyo from $31.00 to $33.00 and gave the company an "overweight" rating in a research report on Thursday, August 8th. KeyCorp upgraded Klaviyo from a "sector weight" rating to an "overweight" rating and set a $33.00 price objective on the stock in a report on Thursday, August 8th. Piper Sandler boosted their target price on Klaviyo from $34.00 to $45.00 and gave the stock an "overweight" rating in a report on Friday, October 18th. Finally, Stifel Nicolaus began coverage on shares of Klaviyo in a research report on Tuesday, October 22nd. They set a "buy" rating and a $45.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, Klaviyo has an average rating of "Moderate Buy" and a consensus target price of $39.00.

Insider Buying and Selling at Klaviyo

In related news, President Stephen Eric Rowland sold 18,114 shares of Klaviyo stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $31.67, for a total value of $573,670.38. Following the completion of the transaction, the president now directly owns 192,488 shares in the company, valued at approximately $6,096,094.96. This trade represents a 0.00 % 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. In other Klaviyo news, CFO Amanda Whalen sold 10,000 shares of the business's stock in a transaction on Friday, October 4th. The shares were sold at an average price of $35.36, for a total transaction of $353,600.00. Following the completion of the sale, the chief financial officer now owns 422,813 shares in the company, valued at $14,950,667.68. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Stephen Eric Rowland sold 18,114 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $31.67, for a total transaction of $573,670.38. Following the sale, the president now directly owns 192,488 shares in the company, valued at $6,096,094.96. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 871,477 shares of company stock worth $27,610,861 in the last ninety days. 53.24% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Janus Henderson Group PLC bought a new position in Klaviyo during the 1st quarter worth $662,000. Swiss National Bank bought a new position in shares of Klaviyo during the first quarter worth about $1,776,000. Blair William & Co. IL increased its holdings in shares of Klaviyo by 1,234.0% in the 1st quarter. Blair William & Co. IL now owns 175,531 shares of the company's stock worth $4,473,000 after acquiring an additional 162,373 shares during the period. Canada Pension Plan Investment Board bought a new stake in Klaviyo in the 2nd quarter valued at about $747,000. Finally, Clearbridge Investments LLC lifted its position in Klaviyo by 1.5% in the 1st quarter. Clearbridge Investments LLC now owns 2,205,684 shares of the company's stock valued at $56,201,000 after purchasing an additional 31,587 shares during the last quarter. 45.43% of the stock is owned by institutional investors and hedge funds.

Klaviyo Stock Performance

The stock has a market capitalization of $9.03 billion, a price-to-earnings ratio of -24.08 and a beta of 1.13. The business's 50 day simple moving average is $35.12 and its 200-day simple moving average is $28.55.

Klaviyo (NYSE:KVYO - Get Free Report) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.15 earnings per share for the quarter, beating analysts' consensus estimates of $0.10 by $0.05. The business had revenue of $222.21 million for the quarter, compared to analysts' expectations of $212.34 million. Klaviyo had a negative net margin of 42.15% and a negative return on equity of 32.19%. The company's revenue was up 35.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.09 earnings per share. As a group, sell-side analysts expect that Klaviyo, Inc. will post -0.01 EPS for the current year.

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.