Klaviyo (NYSE:KVYO) Reaches New 12-Month Low at $22.02

Klaviyo, Inc. (NYSE:KVYO)’s stock price reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $22.02 and last traded at $22.08, with a volume of 230597 shares. The stock had previously closed at $22.60.

Analysts Set New Price Targets

Several analysts have commented on the company. Scotiabank began coverage on Klaviyo in a research note on Tuesday, April 2nd. They set a “sector perform” rating and a $30.00 price objective for the company. FBN Securities assumed coverage on shares of Klaviyo in a research report on Wednesday, March 20th. They issued an “outperform” rating and a $35.00 price target on the stock. Morgan Stanley reduced their price objective on shares of Klaviyo from $37.00 to $32.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 17th. Cantor Fitzgerald initiated coverage on shares of Klaviyo in a research note on Tuesday, April 16th. They set an “overweight” rating and a $31.00 target price for the company. Finally, The Goldman Sachs Group raised shares of Klaviyo from a “neutral” rating to a “buy” rating and set a $36.00 price objective on the stock in a report on Monday, February 5th. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Klaviyo currently has an average rating of “Moderate Buy” and an average price target of $36.88.

Klaviyo Trading Up 0.3 %

The stock has a fifty day moving average of $25.00 and a 200-day moving average of $27.10.

Klaviyo (NYSE:KVYO) last announced its quarterly earnings data 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 firm had revenue of $201.62 million during the quarter, compared to analyst estimates of $196.02 million. As a group, equities analysts expect that Klaviyo, Inc. will post -0.27 earnings per share for the current year.

Insider Activity at Klaviyo

In other Klaviyo news, insider Landon Edmond sold 3,545 shares of the firm’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $24.15, for a total transaction of $85,611.75. Following the completion of the sale, the insider now owns 167,127 shares of the company’s stock, valued at $4,036,117.05. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Institutional Trading of Klaviyo

Hedge funds and other institutional investors have recently made changes to their positions in the company. Salem Investment Counselors Inc. purchased a new stake in Klaviyo in the 4th quarter valued at approximately $25,000. New York State Common Retirement Fund acquired a new stake in shares of Klaviyo during the 3rd quarter worth $65,000. Skylands Capital LLC acquired a new stake in shares of Klaviyo during the 3rd quarter worth $172,000. Moody National Bank Trust Division acquired a new stake in Klaviyo in the 4th quarter valued at $231,000. Finally, Renaissance Capital LLC purchased a new position in Klaviyo in the 4th quarter valued at about $341,000. Institutional investors and hedge funds own 45.43% of the company’s stock.

About Klaviyo

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.