Klaviyo (NYSE:KVYO) Stock Price Up 6.3% - Still a Buy?

Shares of Klaviyo, Inc. (NYSE:KVYO - Get Free Report) were up 6.3% during trading on Tuesday . The company traded as high as $46.38 and last traded at $46.06. Approximately 490,610 shares changed hands during trading, a decline of 41% from the average daily volume of 838,568 shares. The stock had previously closed at $43.32.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on KVYO. Loop Capital lifted their price target on shares of Klaviyo from $45.00 to $60.00 and gave the company a "buy" rating in a research report on Monday, December 23rd. Robert W. Baird lifted their price objective on Klaviyo from $42.00 to $45.00 and gave the stock an "outperform" rating in a report on Thursday, November 7th. Needham & Company LLC raised their price target on Klaviyo from $40.00 to $46.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. KeyCorp boosted their price objective on shares of Klaviyo from $42.00 to $45.00 and gave the stock an "overweight" rating in a research report on Friday, December 13th. Finally, William Blair restated an "outperform" rating on shares of Klaviyo in a report on Thursday, December 19th. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $43.18.

Klaviyo Price Performance

The stock has a market capitalization of $12.39 billion, a PE ratio of -255.21 and a beta of 0.57. The company has a 50-day moving average of $40.93 and a two-hundred day moving average of $35.53.

Klaviyo (NYSE:KVYO - Get Free Report) last issued its earnings results on Wednesday, November 6th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.04. Klaviyo had a positive return on equity of 0.86% and a negative net margin of 5.23%. The business had revenue of $235.09 million for the quarter, compared to analyst estimates of $226.33 million. During the same period last year, the company posted ($1.24) EPS. The business's quarterly revenue was up 33.7% on a year-over-year basis. On average, research analysts forecast that Klaviyo, Inc. will post 0.03 EPS for the current fiscal year.

Insider Activity

In related news, President Stephen Eric Rowland sold 4,536 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $34.56, for a total value of $156,764.16. Following the completion of the sale, the president now directly owns 186,785 shares in the company, valued at approximately $6,455,289.60. This represents a 2.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Amanda Whalen sold 1,050 shares of the business's stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $40.07, for a total value of $42,073.50. Following the transaction, the chief financial officer now owns 395,616 shares in the company, valued at approximately $15,852,333.12. This represents a 0.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 159,072 shares of company stock valued at $6,090,767 in the last three months. Corporate insiders own 53.24% of the company's stock.

Institutional Trading of Klaviyo

Large investors have recently bought and sold shares of the company. Advisors Asset Management Inc. boosted its holdings in Klaviyo by 145.6% in the third quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company's stock valued at $48,000 after purchasing an additional 808 shares during the last quarter. nVerses Capital LLC bought a new stake in shares of Klaviyo in the 3rd quarter valued at approximately $53,000. West Tower Group LLC acquired a new stake in shares of Klaviyo during the 3rd quarter valued at approximately $177,000. Victory Capital Management Inc. bought a new position in Klaviyo during the third quarter worth $208,000. Finally, William Marsh Rice University bought a new position in shares of Klaviyo in the 3rd quarter worth about $245,000. Institutional investors and hedge funds own 45.43% of the company's stock.

About Klaviyo

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.