Klaviyo (NYSE:KVYO) Shares Gap Down After Analyst Downgrade

Shares of Klaviyo, Inc. (NYSE:KVYO) gapped down prior to trading on Thursday after Benchmark lowered their price target on the stock from $42.00 to $40.00. The stock had previously closed at $40.36, but opened at $34.30. Benchmark currently has a buy rating on the stock. Klaviyo shares last traded at $32.15, with a volume of 1,002,362 shares.

Other analysts have also recently issued research reports about the company. Barclays boosted their price target on Klaviyo from $32.00 to $41.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Needham & Company LLC reiterated a “buy” rating and set a $40.00 price objective on shares of Klaviyo in a research note on Wednesday, September 4th. Wells Fargo & Company reissued a “buy” rating on shares of Klaviyo in a research report on Friday, October 18th. Robert W. Baird lifted their target price on Klaviyo from $35.00 to $42.00 and gave the stock an “outperform” rating in a research note on Thursday, October 10th. Finally, Macquarie initiated coverage on Klaviyo in a research note on Thursday, October 31st. They issued a “neutral” rating and a $36.00 price target for the company. Three analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, Klaviyo has an average rating of “Moderate Buy” and a consensus price target of $39.00.

Insider Activity

In related news, President Stephen Eric Rowland sold 18,114 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $31.67, for a total value of $573,670.38. Following the sale, the president now directly owns 192,488 shares of the company’s stock, valued at $6,096,094.96. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO Amanda Whalen sold 10,000 shares of Klaviyo stock in a transaction on Friday, October 4th. The shares were sold at an average price of $35.36, for a total value of $353,600.00. Following the sale, the chief financial officer now owns 422,813 shares in the company, valued at $14,950,667.68. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, President Stephen Eric Rowland sold 18,114 shares of Klaviyo stock in a transaction on Friday, August 16th. The shares were sold at an average price of $31.67, for a total transaction of $573,670.38. Following the completion of the sale, the president now owns 192,488 shares in the company, valued at approximately $6,096,094.96. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 789,711 shares of company stock worth $25,143,646. 53.24% of the stock is owned by company insiders.

Institutional Trading of Klaviyo

A number of hedge funds have recently modified their holdings of the business. nVerses Capital LLC bought a new stake in shares of Klaviyo in the third quarter worth approximately $53,000. EntryPoint Capital LLC bought a new position in shares of Klaviyo during the first quarter worth $71,000. Victory Capital Management Inc. bought a new position in shares of Klaviyo during the third quarter worth $208,000. William Marsh Rice University bought a new stake in Klaviyo in the 3rd quarter valued at $245,000. Finally, Creative Planning purchased a new stake in Klaviyo in the 3rd quarter worth $254,000. Institutional investors own 45.43% of the company’s stock.

Klaviyo Price Performance

The stock has a market cap of $9.03 billion, a PE ratio of -24.08 and a beta of 1.13. The stock has a 50-day moving average price of $35.12 and a two-hundred day moving average price of $28.55.

Klaviyo (NYSE:KVYO) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.05. Klaviyo had a negative return on equity of 32.19% and a negative net margin of 42.15%. The business had revenue of $222.21 million for the quarter, compared to the consensus estimate of $212.34 million. During the same quarter in the previous year, the company posted $0.09 EPS. The company’s revenue was up 35.0% compared to the same quarter last year. Equities research analysts expect that Klaviyo, Inc. will post -0.01 earnings per share for the current year.

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.