Klaviyo (NYSE:KVYO) Reaches New 12-Month High – Still a Buy?

Shares of Klaviyo, Inc. (NYSE:KVYO) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $45.98 and last traded at $45.99, with a volume of 475257 shares traded. The stock had previously closed at $43.67.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Robert W. Baird increased their target price on shares of Klaviyo from $42.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. KeyCorp upped their target price on shares of Klaviyo from $42.00 to $45.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Morgan Stanley raised their price target on shares of Klaviyo from $38.00 to $47.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. Barclays increased their price objective on Klaviyo from $32.00 to $41.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Finally, Piper Sandler boosted their target price on Klaviyo from $45.00 to $50.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, Klaviyo has a consensus rating of “Moderate Buy” and a consensus price target of $42.29.

Klaviyo Trading Up 1.0 %

The company has a market cap of $11.89 billion, a P/E ratio of -245.01 and a beta of 0.57. The business’s 50 day simple moving average is $40.11 and its 200 day simple moving average is $35.08.

Klaviyo (NYSE:KVYO) last posted its quarterly 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 during the quarter, compared to the consensus estimate of $226.33 million. During the same period in the prior year, the company posted ($1.24) EPS. The firm’s revenue for the quarter was up 33.7% compared to the same quarter last year. Sell-side analysts anticipate that Klaviyo, Inc. will post 0.03 EPS for the current year.

Insiders Place Their Bets

In other news, insider Landon Edmond sold 40,000 shares of Klaviyo stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $34.56, for a total value of $1,382,400.00. Following the transaction, the insider now owns 236,621 shares of the company’s stock, valued at $8,177,621.76. The trade was a 14.46 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Amanda Whalen sold 1,050 shares of Klaviyo stock in a transaction on Monday, December 9th. The stock was sold at an average price of $40.07, for a total transaction of $42,073.50. Following the completion of the transaction, the chief financial officer now directly owns 395,616 shares in the company, valued at $15,852,333.12. This represents a 0.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 159,072 shares of company stock valued at $6,090,767 over the last 90 days. Insiders own 53.24% of the company’s stock.

Institutional Trading of Klaviyo

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KVYO. Advisors Asset Management Inc. raised its position in shares of Klaviyo by 145.6% in the third quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company’s stock worth $48,000 after acquiring an additional 808 shares during the period. nVerses Capital LLC purchased a new position in Klaviyo in the 3rd quarter worth approximately $53,000. West Tower Group LLC acquired a new stake in shares of Klaviyo in the 3rd quarter worth $177,000. Victory Capital Management Inc. purchased a new position in shares of Klaviyo during the 3rd quarter worth $208,000. Finally, William Marsh Rice University acquired a new position in shares of Klaviyo during the 3rd quarter valued at about $245,000. 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.