Wells Fargo & Company Begins Coverage on Klaviyo (NYSE:KVYO)

Wells Fargo & Company began coverage on shares of Klaviyo (NYSE:KVYO) in a report published on Wednesday, MarketBeat Ratings reports. The firm issued an equal weight rating and a $37.00 price objective on the stock.

Several other brokerages have also recently weighed in on KVYO. KeyCorp raised Klaviyo from a “sector weight” rating to an “overweight” rating and set a $33.00 price objective for the company in a report on Thursday, August 8th. Needham & Company LLC reiterated a “buy” rating and set a $40.00 price objective on shares of Klaviyo in a research note on Wednesday, September 4th. Piper Sandler raised their target price on shares of Klaviyo from $30.00 to $34.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Robert W. Baird upped their price target on shares of Klaviyo from $35.00 to $42.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. Finally, Benchmark assumed coverage on shares of Klaviyo in a research note on Monday, September 30th. They issued a “buy” rating and a $42.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $36.87.

Klaviyo Stock Performance

KVYO opened at $37.51 on Wednesday. The stock has a fifty day moving average of $33.27 and a 200-day moving average of $27.16. The company has a market capitalization of $9.92 billion and a P/E ratio of -26.60. Klaviyo has a fifty-two week low of $21.26 and a fifty-two week high of $38.50.

Klaviyo (NYSE:KVYO) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.05. Klaviyo had a negative net margin of 42.15% and a negative return on equity of 32.19%. The business had revenue of $222.21 million during the quarter, compared to analysts’ expectations of $212.34 million. During the same quarter in the previous year, the company earned $0.09 EPS. The business’s revenue was up 35.0% on a year-over-year basis. On average, equities research analysts predict that Klaviyo will post -0.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Jeff Fagnan purchased 9,485 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were purchased at an average cost of $26.43 per share, with a total value of $250,688.55. Following the completion of the purchase, the insider now owns 9,485 shares of the company’s stock, valued at $250,688.55. The purchase was disclosed in a document filed with the SEC, which is available at this link. In other Klaviyo news, major shareholder Jeff Fagnan purchased 9,485 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was purchased at an average cost of $26.43 per share, for a total transaction of $250,688.55. Following the transaction, the insider now owns 9,485 shares in the company, valued at $250,688.55. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, President Stephen Eric Rowland sold 18,114 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $37.19, for a total transaction of $673,659.66. Following the transaction, the president now directly owns 192,488 shares of the company’s stock, valued at $7,158,628.72. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 871,477 shares of company stock valued at $27,610,861 in the last 90 days. Corporate insiders own 53.24% of the company’s stock.

Institutional Investors Weigh In On Klaviyo

A number of institutional investors have recently made changes to their positions in the stock. Janus Henderson Group PLC bought a new position in Klaviyo during the first quarter worth $662,000. Swiss National Bank acquired a new position in shares of Klaviyo in the 1st quarter valued at about $1,776,000. Claro Advisors LLC bought a new stake in shares of Klaviyo during the 1st quarter valued at about $23,510,000. Blair William & Co. IL grew its stake in Klaviyo by 1,234.0% during the first quarter. Blair William & Co. IL now owns 175,531 shares of the company’s stock worth $4,473,000 after purchasing an additional 162,373 shares during the period. Finally, Salem Investment Counselors Inc. increased its holdings in Klaviyo by 161.1% in the first quarter. Salem Investment Counselors Inc. now owns 2,350 shares of the company’s stock worth $60,000 after purchasing an additional 1,450 shares in the last quarter. Institutional investors own 45.43% 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.