Klaviyo (NYSE:KVYO) Given New $32.00 Price Target at Wells Fargo & Company

Klaviyo (NYSE:KVYO) had its price target lifted by Wells Fargo & Company from $26.00 to $32.00 in a research note published on Monday, Marketbeat Ratings reports. The brokerage currently has an equal weight rating on the stock.

Several other research firms also recently commented on KVYO. Stephens started coverage on Klaviyo in a report on Wednesday, March 19th. They issued an “overweight” rating and a $43.00 price objective for the company. The Goldman Sachs Group lifted their price target on shares of Klaviyo from $45.00 to $51.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Mizuho lowered their price objective on shares of Klaviyo from $52.00 to $40.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 15th. Benchmark lifted their target price on shares of Klaviyo from $40.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Finally, Barclays lowered their price target on Klaviyo from $51.00 to $35.00 and set an “overweight” rating on the stock in a report on Monday, April 21st. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $43.11.

Klaviyo Stock Performance

Shares of NYSE KVYO opened at $33.78 on Monday. The firm’s 50 day moving average price is $30.73 and its 200-day moving average price is $37.44. Klaviyo has a 52-week low of $21.26 and a 52-week high of $49.55. The company has a market cap of $9.23 billion, a PE ratio of -187.67 and a beta of 1.35.

Klaviyo (NYSE:KVYO) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.02. The business had revenue of $279.83 million for the quarter, compared to analysts’ expectations of $267.79 million. Klaviyo had a positive return on equity of 0.89% and a negative net margin of 4.92%. The firm’s quarterly revenue was up 33.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.13 EPS. On average, analysts forecast that Klaviyo will post 0.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Klaviyo news, President Stephen Eric Rowland sold 7,060 shares of Klaviyo stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $26.66, for a total transaction of $188,219.60. Following the completion of the transaction, the president now directly owns 447,310 shares of the company’s stock, valued at $11,925,284.60. The trade was a 1.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Jeff Fagnan acquired 3,900 shares of the business’s stock in a transaction on Wednesday, April 9th. The shares were purchased at an average price of $25.77 per share, for a total transaction of $100,503.00. Following the transaction, the insider now directly owns 3,900 shares of the company’s stock, valued at approximately $100,503. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 2,073,770 shares of company stock worth $67,259,606. Corporate insiders own 53.24% of the company’s stock.

Institutional Trading of Klaviyo

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Barclays PLC lifted its position in shares of Klaviyo by 1,202.0% during the third quarter. Barclays PLC now owns 12,825 shares of the company’s stock worth $453,000 after purchasing an additional 11,840 shares during the last quarter. Capital Investment Advisors LLC purchased a new stake in Klaviyo in the 4th quarter valued at about $621,000. Oak Ridge Investments LLC bought a new position in Klaviyo in the 4th quarter worth about $1,646,000. SG Americas Securities LLC increased its position in shares of Klaviyo by 21.4% during the fourth quarter. SG Americas Securities LLC now owns 10,929 shares of the company’s stock worth $451,000 after acquiring an additional 1,923 shares during the period. Finally, Renaissance Capital LLC raised its stake in shares of Klaviyo by 56.4% during the fourth quarter. Renaissance Capital LLC now owns 122,646 shares of the company’s stock valued at $5,058,000 after acquiring an additional 44,245 shares in the last quarter. 45.43% of the stock is owned by hedge funds and other 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.