Klaviyo (NYSE:KVYO) Announces Earnings Results

Klaviyo (NYSE:KVYO) posted its earnings results on Wednesday. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.10 by $0.03, Briefing.com reports. The company had revenue of $210.00 million for the quarter, compared to the consensus estimate of $202.08 million. The firm’s revenue 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 Up 11.8 %

Klaviyo stock traded up $2.55 during mid-day trading on Thursday, reaching $24.08. The company’s stock had a trading volume of 3,335,458 shares, compared to its average volume of 1,151,495. The business’s 50 day simple moving average is $24.40 and its 200 day simple moving average is $26.82. Klaviyo has a 12 month low of $21.51 and a 12 month high of $39.47.

Insider Activity at Klaviyo

In related news, insider Landon Edmond sold 3,545 shares of the firm’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $24.15, for a total value of $85,611.75. Following the completion of the transaction, the insider now directly owns 167,127 shares of the company’s stock, valued at $4,036,117.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on KVYO. Mizuho reduced their target price on Klaviyo from $40.00 to $35.00 and set a “buy” rating for the company in a report on Thursday. Morgan Stanley lowered 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. Robert W. Baird lowered their price target on Klaviyo from $40.00 to $35.00 and set an “outperform” rating on the stock in a report on Thursday. KeyCorp started coverage on shares of Klaviyo in a report on Thursday, March 21st. They issued a “sector weight” rating for the company. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $31.00 price objective on shares of Klaviyo in a report on Thursday. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $35.50.

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.