Wells Fargo & Company Forecasts Strong Price Appreciation for Klaviyo (NYSE:KVYO) Stock

Klaviyo (NYSE:KVYO) had its price target boosted by stock analysts at Wells Fargo & Company from $37.00 to $41.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target suggests a potential upside of 0.05% from the company’s previous close.

KVYO has been the topic of a number of other reports. Macquarie reaffirmed a “neutral” rating and set a $36.00 price objective on shares of Klaviyo in a research note on Friday, November 8th. Loop Capital increased their price target on shares of Klaviyo from $45.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, December 23rd. Cantor Fitzgerald upped their price objective on shares of Klaviyo from $33.00 to $47.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. KeyCorp boosted 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. Finally, Piper Sandler lifted their price objective on Klaviyo from $45.00 to $50.00 and gave the stock an “overweight” rating in a research report on Monday. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $41.41.

Klaviyo Stock Performance

NYSE:KVYO opened at $40.98 on Tuesday. Klaviyo has a 52-week low of $21.26 and a 52-week high of $44.77. The stock has a fifty day moving average of $39.19 and a 200 day moving average of $33.60. The firm has a market capitalization of $11.05 billion, a price-to-earnings ratio of -227.65 and a beta of 0.57.

Klaviyo (NYSE:KVYO) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.04. Klaviyo had a negative net margin of 5.23% and a positive return on equity of 0.86%. The business had revenue of $235.09 million during the quarter, compared to analysts’ expectations of $226.33 million. During the same quarter in the previous year, the company earned ($1.24) EPS. The business’s quarterly revenue was up 33.7% compared to the same quarter last year. Equities analysts forecast that Klaviyo will post 0.03 earnings per share for the current fiscal year.

Insider Activity

In other news, President Stephen Eric Rowland sold 4,536 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $34.56, for a total transaction of $156,764.16. Following the sale, the president now owns 186,785 shares of the company’s stock, valued at $6,455,289.60. This trade represents a 2.37 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Amanda Whalen sold 15,000 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $39.39, for a total transaction of $590,850.00. Following the transaction, the chief financial officer now owns 391,820 shares in the company, valued at approximately $15,433,789.80. This trade represents a 3.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 117,650 shares of company stock worth $4,323,105 over the last 90 days. 53.24% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Klaviyo

A number of hedge funds have recently modified their holdings of the business. Whale Rock Capital Management LLC increased its holdings in Klaviyo by 608.9% in the 3rd quarter. Whale Rock Capital Management LLC now owns 3,600,606 shares of the company’s stock worth $127,389,000 after acquiring an additional 3,092,725 shares in the last quarter. Millennium Management LLC lifted its stake in shares of Klaviyo by 53.6% during the 2nd quarter. Millennium Management LLC now owns 1,120,485 shares of the company’s stock valued at $27,889,000 after buying an additional 390,849 shares in the last quarter. Geode Capital Management LLC increased its stake in Klaviyo by 45.1% in the 3rd 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. Mayflower Financial Advisors LLC lifted its position in shares of Klaviyo by 181.4% in the third quarter. Mayflower Financial Advisors LLC now owns 684,948 shares of the company’s stock valued at $24,233,000 after acquiring an additional 441,500 shares in the last quarter. Finally, Two Sigma Advisers LP boosted its stake in shares of Klaviyo by 121.5% in the third quarter. Two Sigma Advisers LP now owns 673,500 shares of the company’s stock worth $23,828,000 after acquiring an additional 369,400 shares during the period. 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.