Klaviyo (NYSE:KVYO) Reaches New 1-Year Low at $22.12

Klaviyo, Inc. (NYSE:KVYO) reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $22.12 and last traded at $22.68, with a volume of 117632 shares traded. The stock had previously closed at $22.89.

Analysts Set New Price Targets

A number of analysts have commented on the company. Morgan Stanley reduced their price objective on Klaviyo from $37.00 to $32.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 17th. The Goldman Sachs Group upgraded shares of Klaviyo from a “neutral” rating to a “buy” rating and set a $36.00 price target for the company in a research note 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 target price for the company. KeyCorp started coverage on Klaviyo in a research note on Thursday, March 21st. They issued a “sector weight” rating on the stock. Finally, Cantor Fitzgerald began coverage on shares of Klaviyo in a research note on Tuesday, April 16th. They issued an “overweight” rating and a $31.00 target price on the stock. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Klaviyo has an average rating of “Moderate Buy” and an average price target of $36.88.

Klaviyo Price Performance

The company has a 50 day simple moving average of $25.65 and a 200 day simple moving average of $27.46.

Klaviyo (NYSE:KVYO) last posted its quarterly earnings results on Tuesday, February 27th. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02. The company had revenue of $201.62 million during the quarter, compared to the consensus estimate of $196.02 million. On average, equities research analysts expect that Klaviyo, Inc. will post -0.27 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related 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 value of $85,611.75. Following the sale, the insider now owns 167,127 shares in the company, valued at approximately $4,036,117.05. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KVYO. Marino Stram & Associates LLC bought a new stake in shares of Klaviyo in the first quarter valued at approximately $1,118,000. Dakota Wealth Management bought a new stake in shares of Klaviyo during the 1st quarter valued at $1,612,000. Claro Advisors LLC acquired a new stake in shares of Klaviyo during the 1st quarter worth $23,510,000. Salem Investment Counselors Inc. increased its position in shares of Klaviyo by 161.1% in the first quarter. Salem Investment Counselors Inc. now owns 2,350 shares of the company’s stock worth $60,000 after purchasing an additional 1,450 shares during the period. Finally, Moody National Bank Trust Division raised its stake in Klaviyo by 87.9% in the first quarter. Moody National Bank Trust Division now owns 15,639 shares of the company’s stock valued at $398,000 after purchasing an additional 7,316 shares in the last quarter. 45.43% of the stock is owned by institutional investors and hedge funds.

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.