Wells Fargo & Company Issues Positive Forecast for Klaviyo (NYSE:KVYO) Stock Price

Klaviyo (NYSE:KVYO) had its target price increased by analysts at Wells Fargo & Company from $37.00 to $41.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential downside of 0.87% from the company’s current price.

Other research analysts also recently issued reports about the company. Canaccord Genuity Group increased their price objective on Klaviyo from $32.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Benchmark cut their price objective on shares of Klaviyo from $42.00 to $40.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Barclays lifted their price target on shares of Klaviyo from $32.00 to $41.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Loop Capital raised their price objective on Klaviyo from $45.00 to $60.00 and gave the company a “buy” rating in a report on Monday, December 23rd. Finally, KeyCorp upped their target price on Klaviyo from $42.00 to $45.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, Klaviyo presently has an average rating of “Moderate Buy” and a consensus price target of $41.41.

Klaviyo Price Performance

Shares of Klaviyo stock traded down $1.31 on Tuesday, hitting $41.36. 297,697 shares of the company’s stock traded hands, compared to its average volume of 654,997. Klaviyo has a one year low of $21.26 and a one year high of $44.77. The firm’s 50-day moving average price is $39.09 and its two-hundred day moving average price is $33.41. The stock has a market capitalization of $11.15 billion, a PE ratio of -229.77 and a beta of 0.57.

Klaviyo (NYSE:KVYO) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.04. Klaviyo had a positive return on equity of 0.86% and a negative net margin of 5.23%. The business had revenue of $235.09 million during the quarter, compared to analyst estimates of $226.33 million. During the same period in the previous year, the firm earned ($1.24) EPS. Klaviyo’s quarterly revenue was up 33.7% compared to the same quarter last year. On average, analysts forecast that Klaviyo will post 0.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Amanda Whalen sold 15,000 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $39.39, for a total value of $590,850.00. Following the transaction, the chief financial officer now owns 391,820 shares of the company’s stock, valued at approximately $15,433,789.80. This trade represents a 3.69 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Landon Edmond sold 40,000 shares of Klaviyo stock in a transaction on Monday, November 18th. The stock was sold at an average price of $34.56, for a total transaction of $1,382,400.00. Following the transaction, the insider now directly owns 236,621 shares in the company, valued at $8,177,621.76. This represents a 14.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 117,650 shares of company stock valued at $4,323,105. 53.24% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Klaviyo

Institutional investors have recently made changes to their positions in the stock. Advisors Asset Management Inc. raised its stake in shares of Klaviyo by 145.6% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company’s stock valued at $48,000 after purchasing an additional 808 shares during the period. nVerses Capital LLC bought a new stake in shares of Klaviyo during the third quarter valued at about $53,000. West Tower Group LLC purchased a new stake in shares of Klaviyo in the third quarter worth about $177,000. Victory Capital Management Inc. bought a new position in shares of Klaviyo in the third quarter valued at approximately $208,000. Finally, William Marsh Rice University purchased a new position in Klaviyo during the third quarter valued at approximately $245,000. Hedge funds and other institutional investors 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.