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

Klaviyo (NYSE:KVYO) had its target price raised by Wells Fargo & Company from $37.00 to $41.00 in a research report report published on Tuesday,Benzinga reports. The firm currently has an equal weight rating on the stock.

Several other equities analysts also recently weighed in on KVYO. Macquarie reiterated a “neutral” rating and set a $36.00 target price on shares of Klaviyo in a research report on Friday, November 8th. Needham & Company LLC boosted their target price on shares of Klaviyo from $40.00 to $46.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Cantor Fitzgerald increased their price target on shares of Klaviyo from $33.00 to $47.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Loop Capital boosted their price objective on shares of Klaviyo from $45.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, December 23rd. Finally, Canaccord Genuity Group increased their target price on Klaviyo from $32.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $41.41.

Klaviyo Stock Down 2.4 %

Shares of NYSE:KVYO opened at $41.64 on Tuesday. The company has a market capitalization of $11.23 billion, a P/E ratio of -231.32 and a beta of 0.57. Klaviyo has a 52-week low of $21.26 and a 52-week high of $44.77. The stock’s fifty day simple moving average is $39.14 and its 200-day simple moving average is $33.54.

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

Insider Activity at Klaviyo

In other news, President Stephen Eric Rowland sold 4,536 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $34.56, for a total transaction of $156,764.16. Following the completion of the transaction, the president now directly owns 186,785 shares in the company, valued at approximately $6,455,289.60. This represents a 2.37 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Landon Edmond sold 40,000 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $34.56, for a total transaction of $1,382,400.00. Following the completion of the sale, 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. In the last three months, insiders sold 117,650 shares of company stock valued at $4,323,105. Corporate insiders own 53.24% of the company’s stock.

Institutional Trading of Klaviyo

Several hedge funds and other institutional investors have recently bought and sold shares of KVYO. Advisors Asset Management Inc. grew its position in shares of Klaviyo by 145.6% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company’s stock worth $48,000 after acquiring an additional 808 shares in the last quarter. nVerses Capital LLC bought a new stake in Klaviyo during the third quarter valued at $53,000. Dark Forest Capital Management LP raised its holdings in shares of Klaviyo by 13.7% during the second quarter. Dark Forest Capital Management LP now owns 23,689 shares of the company’s stock worth $590,000 after purchasing an additional 2,851 shares during the period. West Tower Group LLC bought a new stake in shares of Klaviyo during the 3rd quarter valued at about $177,000. Finally, Victory Capital Management Inc. acquired a new stake in Klaviyo during the third quarter worth about $208,000. 45.43% of the stock is owned by institutional investors.

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.