Klaviyo (NYSE:KVYO) Shares Gap Down After Earnings Miss

Klaviyo, Inc. (NYSE:KVYO - Get Free Report)'s share price gapped down before the market opened on Thursday following a weaker than expected earnings announcement. The stock had previously closed at $47.00, but opened at $43.38. Klaviyo shares last traded at $42.24, with a volume of 1,033,731 shares traded.

The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.12). The business had revenue of $270.16 million during the quarter, compared to analyst estimates of $257.24 million. Klaviyo had a negative net margin of 4.92% and a positive return on equity of 0.90%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on KVYO shares. Wells Fargo & Company lowered their price target on Klaviyo from $48.00 to $45.00 and set an "equal weight" rating on the stock in a research report on Thursday. Robert W. Baird raised their price target on Klaviyo from $52.00 to $54.00 and gave the company an "outperform" rating in a research report on Thursday. The Goldman Sachs Group raised their price target on Klaviyo from $45.00 to $51.00 and gave the company a "buy" rating in a research report on Thursday. Macquarie reaffirmed a "neutral" rating and issued a $36.00 price target on shares of Klaviyo in a research report on Friday, November 8th. Finally, Cantor Fitzgerald lifted their target price on Klaviyo from $47.00 to $54.00 and gave the stock an "overweight" rating in a research report on Thursday. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $49.44.

Insider Buying and Selling at Klaviyo

In other news, President Stephen Eric Rowland sold 4,536 shares of Klaviyo stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $40.04, for a total value of $181,621.44. Following the completion of the transaction, the president now owns 260,403 shares in the company, valued at approximately $10,426,536.12. The trade was a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Landon Edmond sold 40,000 shares of Klaviyo stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $41.80, for a total transaction of $1,672,000.00. Following the completion of the transaction, the insider now owns 298,607 shares of the company's stock, valued at $12,481,772.60. This trade represents a 11.81 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 114,536 shares of company stock valued at $4,720,953. 53.24% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Bank Julius Baer & Co. Ltd Zurich raised its stake in shares of Klaviyo by 8.0% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,836 shares of the company's stock valued at $220,000 after acquiring an additional 359 shares during the last quarter. Victory Capital Management Inc. raised its position in Klaviyo by 10.3% in the 4th quarter. Victory Capital Management Inc. now owns 6,469 shares of the company's stock worth $267,000 after purchasing an additional 604 shares during the last quarter. Arizona State Retirement System raised its position in Klaviyo by 4.0% in the 4th quarter. Arizona State Retirement System now owns 16,854 shares of the company's stock worth $695,000 after purchasing an additional 648 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Klaviyo by 5.0% in the 4th quarter. The Manufacturers Life Insurance Company now owns 14,285 shares of the company's stock worth $589,000 after purchasing an additional 677 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its position in Klaviyo by 145.6% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company's stock worth $48,000 after purchasing an additional 808 shares during the last quarter. Institutional investors own 45.43% of the company's stock.

Klaviyo Stock Performance

The firm's 50-day moving average is $43.72 and its two-hundred day moving average is $37.92. The stock has a market cap of $11.27 billion, a P/E ratio of -232.14 and a beta of 0.60.

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.