Klaviyo (NYSE:KVYO) Shares Gap Down on Disappointing Earnings

Klaviyo, Inc. (NYSE:KVYO) gapped down prior to trading on Thursday following a dissappointing earnings announcement. The stock had previously closed at $47.00, but opened at $43.38. Klaviyo shares last traded at $42.24, with a volume of 1,033,731 shares.

The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.12). Klaviyo had a negative net margin of 5.23% and a positive return on equity of 0.86%. The business had revenue of $270.16 million during the quarter, compared to analyst estimates of $257.24 million.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on KVYO shares. Benchmark lifted their price target on Klaviyo from $40.00 to $51.00 and gave the company a “buy” rating in a research note on Wednesday. Loop Capital upped their price target on Klaviyo from $45.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, December 23rd. William Blair restated an “outperform” rating on shares of Klaviyo in a research note on Thursday, December 19th. Macquarie reiterated a “neutral” rating and issued a $36.00 target price on shares of Klaviyo in a report on Friday, November 8th. Finally, Needham & Company LLC boosted their price target on shares of Klaviyo from $46.00 to $56.00 and gave the stock a “buy” rating in a report on Thursday. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.47.

Insider Transactions at Klaviyo

In related news, President Stephen Eric Rowland sold 4,536 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $40.04, for a total transaction of $181,621.44. Following the sale, the president now owns 260,403 shares of the company’s stock, valued at approximately $10,426,536.12. This represents a 1.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Amanda Whalen sold 15,000 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $45.85, for a total transaction of $687,750.00. Following the completion of the transaction, the chief financial officer now directly owns 376,820 shares of the company’s stock, valued at approximately $17,277,197. The trade was a 3.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 114,536 shares of company stock valued at $4,720,953 over the last three months. Company insiders own 53.24% of the company’s stock.

Institutional Investors Weigh In On Klaviyo

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Advisors Asset Management Inc. grew its position in Klaviyo by 145.6% during the third quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company’s stock worth $48,000 after buying an additional 808 shares in the last quarter. CIBC Private Wealth Group LLC boosted its position in shares of Klaviyo by 169.5% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,752 shares of the company’s stock valued at $72,000 after acquiring an additional 1,102 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Klaviyo by 77.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,874 shares of the company’s stock worth $77,000 after purchasing an additional 818 shares in the last quarter. West Tower Group LLC bought a new position in shares of Klaviyo in the third quarter worth approximately $177,000. Finally, SBI Securities Co. Ltd. purchased a new stake in Klaviyo in the fourth quarter valued at approximately $196,000. Hedge funds and other institutional investors own 45.43% of the company’s stock.

Klaviyo Stock Down 9.7 %

The firm has a market capitalization of $11.45 billion, a P/E ratio of -235.26 and a beta of 0.60. The firm’s 50-day simple moving average is $43.56 and its 200-day simple moving average is $37.75.

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.