Klaviyo (NYSE:KVYO) Posts Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Klaviyo (NYSE:KVYO) released its quarterly earnings data on Wednesday. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company’s revenue for the quarter was up 34.5% on a year-over-year basis. Klaviyo updated its FY 2024 guidance to EPS and its Q2 2024 guidance to EPS.

Klaviyo Stock Performance

KVYO stock traded up $2.55 during midday trading on Thursday, reaching $24.08. The stock had a trading volume of 3,335,458 shares, compared to its average volume of 1,151,495. The firm has a fifty day simple moving average of $24.40 and a two-hundred day simple moving average of $26.82. Klaviyo has a 52-week low of $21.51 and a 52-week high of $39.47.

Insider Buying and Selling

In other news, insider Landon Edmond sold 3,545 shares of the company’s stock in a transaction dated 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 $4,036,117.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on KVYO shares. Robert W. Baird dropped their price target on shares of Klaviyo from $40.00 to $35.00 and set an “outperform” rating for the company in a research report on Thursday. William Blair reissued an “outperform” rating on shares of Klaviyo in a research report on Wednesday, February 28th. FBN Securities started coverage on shares of Klaviyo in a research note on Wednesday, March 20th. They set an “outperform” rating and a $35.00 price objective for the company. Morgan Stanley reduced their price target 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. Finally, The Goldman Sachs Group raised Klaviyo from a “neutral” rating to a “buy” rating and set a $36.00 price objective on the stock in a research report on Monday, February 5th. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, Klaviyo has an average 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.