Klaviyo (NYSE:KVYO) Reaches New 1-Year Low at $21.87

Klaviyo, Inc. (NYSE:KVYO)’s stock price hit a new 52-week low during trading on Wednesday . The stock traded as low as $21.87 and last traded at $22.20, with a volume of 577343 shares traded. The stock had previously closed at $23.38.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Needham & Company LLC reiterated a “buy” rating and set a $40.00 target price on shares of Klaviyo in a report on Wednesday, February 28th. The Goldman Sachs Group upgraded shares of Klaviyo from a “neutral” rating to a “buy” rating and set a $36.00 target price on the stock in a report on Monday, February 5th. FBN Securities initiated coverage on Klaviyo in a report on Wednesday, March 20th. They issued an “outperform” rating and a $35.00 price target for the company. Piper Sandler reiterated an “overweight” rating and issued a $38.00 target price on shares of Klaviyo in a research note on Wednesday, February 28th. Finally, Cantor Fitzgerald started coverage on Klaviyo in a research report on Tuesday, April 16th. They set an “overweight” rating and a $31.00 price target on the stock. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $36.88.

Klaviyo Stock Performance

The company has a 50-day moving average of $24.52 and a 200-day moving average of $26.85.

Klaviyo (NYSE:KVYO) last issued its earnings results on Tuesday, February 27th. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. The business had revenue of $201.62 million for the quarter, compared to analyst estimates of $196.02 million. Research analysts predict that Klaviyo, Inc. will post -0.27 earnings per share for the current year.

Insider Activity

In other Klaviyo news, insider Landon Edmond sold 3,545 shares of the stock in a transaction on Friday, April 5th. The stock was sold at an average price of $24.15, for a total transaction of $85,611.75. Following the completion of the transaction, the insider now directly owns 167,127 shares of the company’s stock, valued at approximately $4,036,117.05. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Institutional Trading of Klaviyo

A number of hedge funds and other institutional investors have recently made changes to their positions in KVYO. Clearbridge Investments LLC acquired a new position in Klaviyo in the 3rd quarter worth approximately $64,316,000. Vanguard Group Inc. purchased a new position in shares of Klaviyo during the third quarter valued at $49,833,000. Goldman Sachs Group Inc. raised its position in Klaviyo by 243.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,472,140 shares of the company’s stock valued at $40,896,000 after buying an additional 1,042,902 shares during the period. FMR LLC purchased a new stake in Klaviyo in the 3rd quarter worth about $34,203,000. Finally, Claro Advisors LLC acquired a new stake in Klaviyo during the 1st quarter worth about $23,510,000. 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.