Klaviyo (NYSE:KVYO) Sets New 12-Month High - What's Next?

Klaviyo, Inc. (NYSE:KVYO - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $39.92 and last traded at $39.58, with a volume of 103620 shares trading hands. The stock had previously closed at $39.25.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on KVYO. Needham & Company LLC reaffirmed a "buy" rating and set a $40.00 price target on shares of Klaviyo in a research report on Wednesday, September 4th. Cantor Fitzgerald boosted 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 initiated coverage on Klaviyo in a report on Tuesday, October 22nd. They issued a "buy" rating and a $45.00 price objective for the company. KeyCorp upgraded shares of Klaviyo from a "sector weight" rating to an "overweight" rating and set a $33.00 price target for the company in a research note on Thursday, August 8th. Finally, Benchmark restated a "buy" rating and issued a $42.00 price target on shares of Klaviyo in a research note on Thursday, October 24th. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $37.38.

Klaviyo Trading Down 1.6 %

The business has a 50-day moving average of $34.39 and a two-hundred day moving average of $27.99. The firm has a market cap of $10.30 billion and a P/E ratio of -27.39.

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

Insiders Place Their Bets

In related news, major shareholder Jeff Fagnan bought 9,485 shares of Klaviyo stock in a transaction that occurred on Thursday, August 1st. The shares were acquired at an average cost of $26.43 per share, for a total transaction of $250,688.55. Following the completion of the acquisition, the insider now directly owns 9,485 shares of the company's stock, valued at approximately $250,688.55. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. In other Klaviyo news, major shareholder Jeff Fagnan purchased 9,485 shares of the company's stock in a transaction on Thursday, August 1st. The shares were purchased at an average cost of $26.43 per share, with a total value of $250,688.55. Following the completion of the purchase, the insider now owns 9,485 shares in the company, valued at $250,688.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Amanda Whalen sold 10,000 shares of the firm's stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $29.72, for a total transaction of $297,200.00. Following the sale, the chief financial officer now directly owns 422,813 shares of the company's stock, valued at approximately $12,566,002.36. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 871,477 shares of company stock valued at $27,610,861. 53.24% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Klaviyo

Hedge funds have recently added to or reduced their stakes in the company. Janus Henderson Group PLC bought a new stake in Klaviyo during the 1st quarter worth approximately $662,000. Swiss National Bank bought a new stake in shares of Klaviyo in the 1st quarter worth $1,776,000. Blair William & Co. IL raised its holdings in shares of 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 purchasing an additional 162,373 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in shares of Klaviyo during the second quarter valued at about $747,000. Finally, Clearbridge Investments LLC boosted its holdings 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 last quarter. 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.