Klaviyo (NYSE:KVYO) Stock Price Up 3.9%

Klaviyo, Inc. (NYSE:KVYOGet Free Report)’s stock price rose 3.9% during trading on Monday . The stock traded as high as $26.60 and last traded at $26.28. 222,982 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 974,079 shares. The stock had previously closed at $25.30.

Analyst Ratings Changes

A number of analysts have recently commented on KVYO shares. William Blair began coverage on Klaviyo in a research note on Monday, October 16th. They issued an “outperform” rating on the stock. Mizuho assumed coverage on Klaviyo in a report on Monday, October 16th. They issued a “buy” rating and a $40.00 price objective on the stock. Truist Financial began coverage on Klaviyo in a research report on Monday, October 16th. They set a “buy” rating and a $42.00 target price on the stock. TD Cowen assumed coverage on shares of Klaviyo in a research report on Monday, October 16th. They set an “outperform” rating and a $42.00 price objective for the company. Finally, Canaccord Genuity Group started coverage on shares of Klaviyo in a research note on Monday, October 16th. They set a “buy” rating and a $37.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $38.75.

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Klaviyo Price Performance

Klaviyo (NYSE:KVYOGet Free Report) last posted its quarterly earnings results on Tuesday, November 7th. The company reported ($1.24) EPS for the quarter, beating the consensus estimate of ($1.82) by $0.58. The company had revenue of $175.80 million during the quarter, compared to analyst estimates of $167.16 million. Klaviyo’s revenue for the quarter was up 47.5% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.10) EPS. Equities research analysts anticipate that Klaviyo, Inc. will post -1.33 earnings per share for the current fiscal year.

Insider Transactions at Klaviyo

In related news, major shareholder Summit Partners L. P sold 1,770,318 shares of the company’s stock in a transaction dated Monday, October 23rd. The shares were sold at an average price of $28.32, for a total value of $50,135,405.76. Following the completion of the sale, the insider now owns 26,720 shares of the company’s stock, valued at $756,710.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, major shareholder Summit Partners L. P sold 1,770,318 shares of the stock in a transaction that occurred on Monday, October 23rd. The stock was sold at an average price of $28.32, for a total value of $50,135,405.76. Following the completion of the transaction, the insider now directly owns 26,720 shares in the company, valued at $756,710.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Summit Partners L. P sold 4,919,165 shares of the firm’s stock in a transaction on Friday, September 22nd. The stock was sold at an average price of $28.32, for a total value of $139,310,752.80. Following the sale, the insider now directly owns 663,769 shares of the company’s stock, valued at approximately $18,797,938.08. The disclosure for this sale can be found here. Insiders have sold a total of 6,701,483 shares of company stock worth $189,785,999 in the last quarter.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. New York State Common Retirement Fund purchased a new stake in Klaviyo during the third quarter worth about $65,000. Skylands Capital LLC acquired a new stake in Klaviyo during the 3rd quarter worth approximately $172,000. Deutsche Bank AG acquired a new position in shares of Klaviyo in the third quarter worth $172,000. Alberta Investment Management Corp purchased a new stake in shares of Klaviyo during the third quarter worth $391,000. Finally, Qube Research & Technologies Ltd acquired a new stake in shares of Klaviyo in the third quarter valued at $429,000.

Klaviyo Company Profile

(Get Free Report)

Klaviyo, Inc, a technology company that provides a software-as-a-service platform to enable its customers to send the right messages at the right time across email, short message service (SMS), and push notifications. The company offers Klaviyo, a marketing automation platform that sends personalized and targeted messages.

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