Klaviyo (NYSE:KVYO) Posts Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Klaviyo (NYSE:KVYO) posted its earnings results on Wednesday. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.05, Briefing.com reports. The firm had revenue of $222.21 million during the quarter, compared to the consensus estimate of $212.34 million. During the same period in the previous year, the company posted $0.09 EPS. The firm’s revenue for the quarter was up 35.0% compared to the same quarter last year. Klaviyo updated its FY 2024 guidance to EPS and its Q3 2024 guidance to EPS.

Klaviyo Stock Performance

Shares of NYSE:KVYO traded up $0.31 during mid-day trading on Friday, reaching $31.09. The stock had a trading volume of 3,488,495 shares, compared to its average volume of 1,194,133. The firm has a 50 day simple moving average of $24.23 and a two-hundred day simple moving average of $24.95. Klaviyo has a twelve month low of $21.26 and a twelve month high of $39.47.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Barclays upped their target price on shares of Klaviyo from $29.00 to $32.00 and gave the stock an “overweight” rating in a report on Thursday. Piper Sandler upped their price target on shares of Klaviyo from $30.00 to $34.00 and gave the stock an “overweight” rating in a research report on Thursday. Mizuho reduced their price target on shares of Klaviyo from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. KeyCorp upgraded shares of Klaviyo from a “sector weight” rating to an “overweight” rating and set a $33.00 price target on the stock in a research report on Thursday. Finally, Canaccord Genuity Group reduced their price target on shares of Klaviyo from $37.00 to $32.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. Three analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.65.

Insider Activity at Klaviyo

In related news, CFO Amanda Whalen sold 60,000 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $30.23, for a total value of $1,813,800.00. Following the sale, the chief financial officer now directly owns 435,993 shares in the company, valued at approximately $13,180,068.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Landon Edmond sold 21,766 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $30.02, for a total value of $653,415.32. Following the sale, the insider now directly owns 260,413 shares in the company, valued at approximately $7,817,598.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Amanda Whalen sold 60,000 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $30.23, for a total transaction of $1,813,800.00. Following the completion of the sale, the chief financial officer now owns 435,993 shares in the company, valued at $13,180,068.39. The disclosure for this sale can be found here. Insiders have sold 94,766 shares of company stock worth $2,787,665 in the last ninety days. Company insiders own 53.24% of the company’s stock.

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.