Klaviyo (NYSE:KVYO) Price Target Raised to $48.00 at Wells Fargo & Company

Klaviyo (NYSE:KVYO) had its price target hoisted by Wells Fargo & Company from $41.00 to $48.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 1.33% from the stock’s previous close.

KVYO has been the subject of a number of other reports. Scotiabank lifted their target price on Klaviyo from $35.00 to $45.00 and gave the company a “sector perform” rating in a research report on Wednesday, January 29th. Cantor Fitzgerald lifted their price target on Klaviyo from $33.00 to $47.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. KeyCorp lifted their price target on Klaviyo from $42.00 to $45.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Stifel Nicolaus started coverage on Klaviyo in a report on Tuesday, October 22nd. They issued a “buy” rating and a $45.00 price target on the stock. Finally, Citigroup boosted their target price on Klaviyo from $39.00 to $48.00 and gave the stock a “neutral” rating in a research note on Tuesday. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Klaviyo has an average rating of “Moderate Buy” and a consensus price target of $44.29.

Klaviyo Stock Performance

NYSE KVYO traded down $0.18 on Wednesday, reaching $47.37. 203,160 shares of the stock traded hands, compared to its average volume of 1,022,300. The company has a fifty day moving average price of $42.60 and a 200-day moving average price of $36.91. The company has a market cap of $12.77 billion, a price-to-earnings ratio of -263.15 and a beta of 0.60. Klaviyo has a 12 month low of $21.26 and a 12 month high of $49.55.

Insider Activity

In other news, insider Landon Edmond sold 40,000 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $34.56, for a total value of $1,382,400.00. Following the completion of the transaction, the insider now owns 236,621 shares of the company’s stock, valued at $8,177,621.76. The trade was a 14.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Amanda Whalen sold 15,000 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $34.56, for a total value of $518,400.00. Following the completion of the transaction, the chief financial officer now directly owns 395,616 shares of the company’s stock, valued at approximately $13,672,488.96. This trade represents a 3.65 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 174,072 shares of company stock valued at $6,778,517 in the last quarter. 53.24% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Klaviyo

Hedge funds have recently bought and sold shares of the business. Advisors Asset Management Inc. increased its position in shares of Klaviyo by 145.6% in the third quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company’s stock valued at $48,000 after buying an additional 808 shares in the last quarter. nVerses Capital LLC acquired a new position in shares of Klaviyo during the 3rd quarter worth approximately $53,000. SBI Securities Co. Ltd. acquired a new position in shares of Klaviyo during the 4th quarter worth approximately $196,000. US Bancorp DE purchased a new position in Klaviyo during the fourth quarter valued at $199,000. Finally, Bank Julius Baer & Co. Ltd Zurich lifted its holdings in Klaviyo by 8.0% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,836 shares of the company’s stock valued at $220,000 after purchasing an additional 359 shares in the last quarter. 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.