Klaviyo (NYSE:KVYO) Issues 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 the consensus estimate of $0.10 by $0.03, Briefing.com reports. The business had revenue of $210.00 million during the quarter, compared to the consensus estimate of $202.08 million. The firm’s revenue 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

Shares of Klaviyo stock traded down $0.20 during mid-day trading on Friday, hitting $23.88. The stock had a trading volume of 1,155,368 shares, compared to its average volume of 1,151,001. The firm has a 50-day moving average of $24.35 and a two-hundred day moving average of $26.80. Klaviyo has a 12-month low of $21.51 and a 12-month high of $39.47.

Insider Activity

In other news, insider Landon Edmond sold 3,545 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now directly owns 167,127 shares in the company, valued at approximately $4,036,117.05. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on KVYO shares. The Goldman Sachs Group raised Klaviyo from a “neutral” rating to a “buy” rating and set a $36.00 price target on the stock in a report on Monday, February 5th. Mizuho cut their price target on Klaviyo from $40.00 to $35.00 and set a “buy” rating for the company in a research note on Thursday. Scotiabank started coverage on Klaviyo in a research note on Tuesday, April 2nd. They issued a “sector perform” rating and a $30.00 price target for the company. Piper Sandler restated an “overweight” rating and set a $38.00 price objective on shares of Klaviyo in a research report on Wednesday, February 28th. Finally, KeyCorp started coverage on Klaviyo in a research report on Thursday, March 21st. They set a “sector weight” rating for the company. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target 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.