Klaviyo (NYSE:KVYO) Shares Gap Down - Here's Why

Klaviyo, Inc. (NYSE:KVYO - Get Free Report)'s stock price gapped down prior to trading on Friday . The stock had previously closed at $36.95, but opened at $35.93. Klaviyo shares last traded at $35.21, with a volume of 385,369 shares trading hands.

Wall Street Analyst Weigh In

KVYO has been the topic of several recent analyst reports. Needham & Company LLC boosted their price objective on Klaviyo from $40.00 to $46.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Barclays boosted their price target on shares of Klaviyo from $32.00 to $41.00 and gave the company an "overweight" rating in a report on Friday, October 11th. Macquarie reaffirmed a "neutral" rating and issued a $36.00 price objective on shares of Klaviyo in a research note on Friday, November 8th. Stifel Nicolaus started coverage on shares of Klaviyo in a research note on Tuesday, October 22nd. They set a "buy" rating and a $45.00 target price on the stock. Finally, Wells Fargo & Company restated a "buy" rating on shares of Klaviyo in a report on Friday, October 18th. Three equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. Based on data from MarketBeat, Klaviyo has a consensus rating of "Moderate Buy" and an average price target of $39.00.

Klaviyo Stock Performance

The company's 50 day moving average price is $35.66 and its 200 day moving average price is $29.03. The company has a market cap of $9.38 billion, a price-to-earnings ratio of -195.94 and a beta of 1.13.

Klaviyo (NYSE:KVYO - Get Free Report) last posted its earnings results on Wednesday, November 6th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.11 by $0.04. The firm had revenue of $235.09 million for the quarter, compared to the consensus estimate of $226.33 million. Klaviyo had a negative net margin of 5.23% and a positive return on equity of 0.86%. The business's quarterly revenue was up 33.7% on a year-over-year basis. During the same period in the prior year, the business posted ($1.24) earnings per share. On average, equities research analysts forecast that Klaviyo, Inc. will post -0.01 EPS for the current fiscal year.

Insider Transactions at Klaviyo

In other Klaviyo news, major shareholder Summit Partners L. P sold 1,300 shares of the firm's stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $31.64, for a total value of $41,132.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO Allen Chaves sold 130,000 shares of the company's stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $31.85, for a total value of $4,140,500.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 398,996 shares of company stock worth $12,753,416. 53.24% of the stock is owned by insiders.

Hedge Funds Weigh In On Klaviyo

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Swiss National Bank bought a new stake in Klaviyo in the 1st quarter valued at $1,776,000. Blair William & Co. IL increased its stake in Klaviyo by 1,234.0% in the first quarter. Blair William & Co. IL now owns 175,531 shares of the company's stock valued at $4,473,000 after acquiring an additional 162,373 shares during the period. Cynosure Group LLC acquired a new position in Klaviyo in the first quarter worth about $1,344,000. Clearbridge Investments LLC lifted its stake in Klaviyo by 1.5% during the first quarter. Clearbridge Investments LLC now owns 2,205,684 shares of the company's stock worth $56,201,000 after purchasing an additional 31,587 shares during the period. Finally, EntryPoint Capital LLC bought a new position in Klaviyo during the first quarter worth about $71,000. 45.43% of the stock is currently owned by institutional investors.

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.