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

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

KVYO has been the topic of a number of other research reports. Stifel Nicolaus initiated coverage on Klaviyo in a report on Tuesday, October 22nd. They issued a “buy” rating and a $45.00 price objective on the stock. Macquarie reissued a “neutral” rating and set a $36.00 price objective on shares of Klaviyo in a report on Friday, November 8th. KeyCorp upped their target price on shares of Klaviyo from $42.00 to $45.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Robert W. Baird lifted their price target on shares of Klaviyo from $42.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Finally, Canaccord Genuity Group upped their price objective on shares of Klaviyo from $32.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $41.41.

Klaviyo Stock Down 2.4 %

Shares of NYSE:KVYO opened at $41.64 on Tuesday. Klaviyo has a fifty-two week low of $21.26 and a fifty-two week high of $44.77. The firm’s 50 day moving average price is $39.14 and its 200 day moving average price is $33.54. The stock has a market cap of $11.23 billion, a price-to-earnings ratio of -231.32 and a beta of 0.57.

Klaviyo (NYSE:KVYO) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.04. The business 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 company’s revenue was up 33.7% on a year-over-year basis. During the same period last year, the business earned ($1.24) EPS. On average, equities analysts anticipate that Klaviyo will post 0.03 EPS for the current year.

Insider Transactions at Klaviyo

In other Klaviyo news, President Stephen Eric Rowland sold 18,114 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $37.19, for a total value of $673,659.66. Following the completion of the sale, the president now owns 192,488 shares of the company’s stock, valued at approximately $7,158,628.72. This trade represents a 8.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Amanda Whalen sold 15,000 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $39.39, for a total transaction of $590,850.00. Following the transaction, the chief financial officer now directly owns 391,820 shares in the company, valued at approximately $15,433,789.80. This trade represents a 3.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 117,650 shares of company stock worth $4,323,105. Company insiders own 53.24% of the company’s stock.

Institutional Trading of Klaviyo

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Whale Rock Capital Management LLC grew its position in Klaviyo by 608.9% during the third quarter. Whale Rock Capital Management LLC now owns 3,600,606 shares of the company’s stock worth $127,389,000 after buying an additional 3,092,725 shares during the period. SpiderRock Advisors LLC increased its stake in Klaviyo by 1,571.7% in the 3rd quarter. SpiderRock Advisors LLC now owns 501,500 shares of the company’s stock valued at $17,743,000 after purchasing an additional 471,500 shares in the last quarter. Mayflower Financial Advisors LLC raised its holdings in Klaviyo by 181.4% during the third quarter. Mayflower Financial Advisors LLC now owns 684,948 shares of the company’s stock worth $24,233,000 after purchasing an additional 441,500 shares during the last quarter. Millennium Management LLC grew its holdings in Klaviyo by 53.6% in the second quarter. Millennium Management LLC now owns 1,120,485 shares of the company’s stock valued at $27,889,000 after purchasing an additional 390,849 shares during the last quarter. Finally, Two Sigma Advisers LP grew its holdings in Klaviyo by 121.5% in the third quarter. Two Sigma Advisers LP now owns 673,500 shares of the company’s stock valued at $23,828,000 after purchasing an additional 369,400 shares during the last quarter. Institutional investors and hedge funds 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.