Truist Financial Has Lowered Expectations for Klaviyo (NYSE:KVYO) Stock Price

Klaviyo (NYSE:KVYO) had its price target trimmed by Truist Financial from $55.00 to $40.00 in a research report sent to investors on Wednesday, Marketbeat.com reports. The firm currently has a buy rating on the stock.

Several other analysts have also commented on the company. Robert W. Baird increased their price objective on Klaviyo from $52.00 to $54.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Stifel Nicolaus raised their price target on Klaviyo from $45.00 to $54.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Stephens began coverage on shares of Klaviyo in a report on Wednesday, March 19th. They set an “overweight” rating and a $43.00 price objective on the stock. Wells Fargo & Company decreased their price objective on shares of Klaviyo from $48.00 to $45.00 and set an “equal weight” rating for the company in a research report on Thursday, February 20th. Finally, Morgan Stanley boosted their target price on shares of Klaviyo from $47.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 20th. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $47.89.

Klaviyo Price Performance

Shares of NYSE KVYO opened at $25.70 on Wednesday. The business has a fifty day moving average price of $34.44 and a 200 day moving average price of $38.03. Klaviyo has a 1-year low of $21.26 and a 1-year high of $49.55. The stock has a market capitalization of $7.02 billion, a P/E ratio of -142.75 and a beta of 1.39.

Klaviyo (NYSE:KVYO) last released its quarterly earnings results on Wednesday, February 19th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.12). The firm had revenue of $270.16 million during the quarter, compared to the consensus estimate of $257.24 million. Klaviyo had a negative net margin of 4.92% and a positive return on equity of 0.89%. As a group, equities research analysts anticipate that Klaviyo will post 0.04 earnings per share for the current fiscal year.

Insider Buying and Selling at Klaviyo

In related news, major shareholder Jeff Fagnan bought 3,900 shares of the business’s stock in a transaction dated Wednesday, April 9th. The stock was acquired at an average price of $25.77 per share, with a total value of $100,503.00. Following the completion of the purchase, the insider now directly owns 3,900 shares of the company’s stock, valued at approximately $100,503. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President Stephen Eric Rowland sold 7,060 shares of the firm’s stock in a transaction dated 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 in the company, valued at $11,925,284.60. This represents a 1.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,088,770 shares of company stock valued at $67,947,356. Company insiders own 53.24% of the company’s stock.

Institutional Investors Weigh In On Klaviyo

A number of large investors have recently modified their holdings of the business. State Street Corp boosted its position in Klaviyo by 7.9% during the third quarter. State Street Corp now owns 435,448 shares of the company’s stock worth $15,406,000 after acquiring an additional 32,034 shares during the last quarter. Barclays PLC increased its holdings in shares of Klaviyo by 1,202.0% in the third quarter. Barclays PLC now owns 12,825 shares of the company’s stock valued at $453,000 after purchasing an additional 11,840 shares during the last quarter. Geode Capital Management LLC lifted its position in Klaviyo by 45.1% during the third quarter. Geode Capital Management LLC now owns 786,186 shares of the company’s stock worth $27,827,000 after buying an additional 244,447 shares in the last quarter. Capital Investment Advisors LLC acquired a new position in Klaviyo during the fourth quarter worth $621,000. Finally, Oak Ridge Investments LLC purchased a new stake in Klaviyo in the 4th quarter valued at $1,646,000. Hedge funds and other 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.