Klaviyo (NYSE:KVYO) Issues Earnings Results

Klaviyo (NYSE:KVYO) announced its quarterly earnings results on Wednesday. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.03, Briefing.com reports. The firm had revenue of $210.00 million during the quarter, compared to analysts’ expectations of $202.08 million. Klaviyo’s revenue for the quarter was up 34.5% compared to the same quarter last year. Klaviyo updated its FY 2024 guidance to EPS and its Q2 2024 guidance to EPS.

Klaviyo Stock Performance

Klaviyo stock traded up $2.55 on Thursday, hitting $24.08. 3,324,635 shares of the stock traded hands, compared to its average volume of 1,151,375. The business’s fifty day simple moving average is $24.40 and its 200 day simple moving average is $26.82. Klaviyo has a 1 year low of $21.51 and a 1 year high of $39.47.

Analyst Upgrades and Downgrades

KVYO has been the subject of several analyst reports. Robert W. Baird cut their price target on shares of Klaviyo from $40.00 to $35.00 and set an “outperform” rating for the company in a report on Thursday. Scotiabank began coverage on Klaviyo in a research report on Tuesday, April 2nd. They set a “sector perform” rating and a $30.00 target price for the company. Barclays dropped their price target on Klaviyo from $32.00 to $25.00 and set an “equal weight” rating for the company in a research report on Thursday. Needham & Company LLC restated a “buy” rating and issued a $40.00 price objective on shares of Klaviyo in a research report on Thursday. Finally, Morgan Stanley dropped their price target on Klaviyo from $37.00 to $32.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 17th. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Klaviyo currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.50.

Insider Transactions at Klaviyo

In other news, insider Landon Edmond sold 3,545 shares of the business’s stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $24.15, for a total value of $85,611.75. Following the sale, 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 legal filing with the SEC, which is accessible through the SEC website.

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.