Klaviyo (NYSE:KVYO) Hits New 52-Week High – Here’s Why

Klaviyo, Inc. (NYSE:KVYO) hit a new 52-week high during trading on Wednesday . The stock 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.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on KVYO shares. Wells Fargo & Company reissued a “buy” rating on shares of Klaviyo in a report on Friday, October 18th. Stifel Nicolaus assumed coverage on shares of Klaviyo in a research report on Tuesday, October 22nd. They set a “buy” rating and a $45.00 price target on the stock. Barclays boosted their price target on shares of Klaviyo from $32.00 to $41.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Piper Sandler upped their target price on shares of Klaviyo from $34.00 to $45.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Finally, Needham & Company LLC reissued a “buy” rating and set a $40.00 price target on shares of Klaviyo in a research report on Wednesday, September 4th. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $37.38.

Klaviyo Stock Performance

The firm has a 50 day moving average of $34.25 and a 200-day moving average of $27.92. The stock has a market capitalization of $10.46 billion and a PE ratio of -27.82.

Klaviyo (NYSE:KVYO) last released its earnings results 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 firm had revenue of $222.21 million for the quarter, compared to analyst estimates of $212.34 million. Klaviyo had a negative return on equity of 32.19% and a negative net margin of 42.15%. The company’s revenue was up 35.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.09 EPS.

Insider Buying and Selling

In related news, major shareholder Summit Partners L. P sold 1,300 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $31.64, for a total transaction of $41,132.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Klaviyo news, major shareholder Summit Partners L. P sold 1,300 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $31.64, for a total value of $41,132.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, President Stephen Eric Rowland sold 18,114 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $37.19, for a total transaction of $673,659.66. Following the completion of the sale, the president now directly owns 192,488 shares of the company’s stock, valued at $7,158,628.72. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 871,477 shares of company stock valued at $27,610,861 over the last three months. Company insiders own 53.24% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. nVerses Capital LLC bought a new position in Klaviyo in the third quarter worth approximately $53,000. EntryPoint Capital LLC bought a new position in Klaviyo during the first quarter valued at $71,000. William Marsh Rice University purchased a new stake in Klaviyo in the 3rd quarter worth about $245,000. Creative Planning purchased a new stake in shares of Klaviyo during the 3rd quarter valued at approximately $254,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Klaviyo during the second quarter worth $236,000. Institutional investors 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.