Klaviyo (NYSE:KVYO) Shares Gap Up – Should You Buy?

Klaviyo, Inc. (NYSE:KVYO) gapped up before the market opened on Tuesday. The stock had previously closed at $17.52, but opened at $18.92. Klaviyo shares last traded at $19.1970, with a volume of 3,171,295 shares changing hands.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Robert W. Baird set a $25.00 target price on shares of Klaviyo in a report on Thursday, August 6th. Stephens lifted their price target on shares of Klaviyo from $24.00 to $25.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Citigroup reissued a “buy” rating on shares of Klaviyo in a research report on Tuesday, September 8th. BTIG Research cut their price objective on shares of Klaviyo from $30.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Finally, Canaccord Genuity Group reduced their price objective on Klaviyo from $32.00 to $29.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Seventeen investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.86.

Klaviyo Stock Up 9.8%

The stock has a market cap of $5.48 billion, a P/E ratio of 957.93 and a beta of 0.67. The firm has a 50 day moving average price of $17.41 and a 200 day moving average price of $16.96.

Klaviyo (NYSE:KVYO) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.19 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.19. The company had revenue of $370.58 million during the quarter, compared to the consensus estimate of $362.08 million. Klaviyo had a return on equity of 5.67% and a net margin of 0.49%. The firm’s revenue was up 26.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.16 EPS. Equities analysts predict that Klaviyo, Inc. will post 0.20 earnings per share for the current fiscal year.

Insider Activity at Klaviyo

In other Klaviyo news, Director Ed Hallen sold 97,482 shares of Klaviyo stock in a transaction that occurred on Wednesday, October 7th. The shares were sold at an average price of $17.40, for a total transaction of $1,696,186.80. Following the transaction, the director owned 55,290 shares of the company’s stock, valued at $962,046. The trade was a 63.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Amanda Whalen sold 14,000 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $18.47, for a total transaction of $258,580.00. Following the completion of the transaction, the chief financial officer owned 824,192 shares of the company’s stock, valued at approximately $15,222,826.24. The trade was a 1.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 5,275,468 shares of company stock worth $93,822,653 in the last 90 days. Insiders own 37.42% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of KVYO. Morangie Management LLC increased its stake in Klaviyo by 35.3% in the 3rd quarter. Morangie Management LLC now owns 545,319 shares of the company’s stock worth $8,578,000 after buying an additional 142,153 shares in the last quarter. State of Alaska Department of Revenue bought a new stake in Klaviyo during the third quarter valued at about $101,000. Elmwood Wealth Management Inc. bought a new stake in Klaviyo during the third quarter valued at about $239,000. Seelaus Asset Management LLC raised its holdings in Klaviyo by 3.3% during the third quarter. Seelaus Asset Management LLC now owns 19,944 shares of the company’s stock valued at $314,000 after acquiring an additional 642 shares during the period. Finally, Congress Asset Management Co. lifted its position in shares of Klaviyo by 21.8% in the third quarter. Congress Asset Management Co. now owns 774,660 shares of the company’s stock valued at $12,185,000 after acquiring an additional 138,430 shares in the last quarter. Institutional investors own 45.43% of the company’s stock.

Klaviyo Company Profile

Klaviyo, Inc (NYSE: KVYO) provides a customer data and marketing automation platform designed primarily for businesses that sell online. Its software helps organizations collect, organize and analyze customer information, then use those insights to create personalized marketing and customer engagement campaigns.

The company’s platform supports communication across channels including email, SMS and mobile push notifications. Its products provide tools for audience segmentation, campaign orchestration, automation, analytics and reporting, with capabilities intended to help businesses improve customer acquisition, engagement and retention.