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

Klaviyo (NYSE:KVYO - Free Report) had its target price upped by Wells Fargo & Company from $37.00 to $41.00 in a research report report published on Tuesday,Benzinga reports. They currently have an equal weight rating on the stock.

KVYO has been the subject of a number of other reports. Needham & Company LLC upped their target price on Klaviyo from $40.00 to $46.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. Canaccord Genuity Group increased their price objective on Klaviyo from $32.00 to $40.00 and gave the company a "buy" rating in a report on Thursday, November 7th. William Blair restated an "outperform" rating on shares of Klaviyo in a research report on Thursday, December 19th. Barclays upped their price target on shares of Klaviyo from $32.00 to $41.00 and gave the company an "overweight" rating in a research report on Friday, October 11th. Finally, KeyCorp raised their price objective on shares of Klaviyo from $42.00 to $45.00 and gave the stock an "overweight" rating in a research report on Friday, December 13th. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $41.41.

Klaviyo Stock Performance

KVYO stock traded down $1.03 during midday trading on Tuesday, reaching $41.64. 885,023 shares of the company were exchanged, compared to its average volume of 811,406. The company has a market cap of $11.23 billion, a price-to-earnings ratio of -231.32 and a beta of 0.57. Klaviyo has a 1-year low of $21.26 and a 1-year high of $44.77. The stock's 50-day simple moving average is $39.09 and its 200 day simple moving average is $33.41.

Klaviyo (NYSE:KVYO - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.15 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $235.09 million for the quarter, compared to analyst estimates of $226.33 million. During the same period last year, the business earned ($1.24) EPS. Klaviyo's revenue for the quarter was up 33.7% compared to the same quarter last year. On average, research analysts anticipate that Klaviyo will post 0.03 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Landon Edmond sold 40,000 shares of Klaviyo stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $34.56, for a total transaction of $1,382,400.00. Following the completion of the sale, the insider now directly owns 236,621 shares in the company, valued at $8,177,621.76. The trade was a 14.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Stephen Eric Rowland sold 4,536 shares of the business's stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $34.56, for a total transaction of $156,764.16. Following the completion of the transaction, the president now directly owns 186,785 shares of the company's stock, valued at approximately $6,455,289.60. This represents a 2.37 % 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 in the last quarter. Company insiders own 53.24% of the company's stock.

Institutional Trading of Klaviyo

Hedge funds and other institutional investors have recently bought and sold shares of the company. Advisors Asset Management Inc. raised its stake in Klaviyo by 145.6% during the third quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company's stock worth $48,000 after purchasing an additional 808 shares during the period. nVerses Capital LLC purchased a new stake in shares of Klaviyo during the 3rd quarter worth about $53,000. West Tower Group LLC acquired a new stake in Klaviyo during the 3rd quarter worth approximately $177,000. Victory Capital Management Inc. purchased a new position in Klaviyo in the third quarter valued at approximately $208,000. Finally, William Marsh Rice University acquired a new position in Klaviyo during the third quarter valued at approximately $245,000. 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.