Wells Fargo & Company Lowers Klaviyo (NYSE:KVYO) Price Target to $45.00

Klaviyo (NYSE:KVYO - Free Report) had its target price lowered by Wells Fargo & Company from $48.00 to $45.00 in a research report released on Thursday morning,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

KVYO has been the subject of a number of other reports. Citigroup raised their price target on Klaviyo from $39.00 to $48.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 11th. Macquarie reissued a "neutral" rating and set a $36.00 price objective on shares of Klaviyo in a report on Friday, November 8th. Morgan Stanley increased their price objective on Klaviyo from $38.00 to $47.00 and gave the company an "equal weight" rating in a report on Monday, January 13th. Needham & Company LLC increased their price objective on Klaviyo from $46.00 to $56.00 and gave the company a "buy" rating in a report on Thursday. Finally, Scotiabank increased their price objective on Klaviyo from $35.00 to $45.00 and gave the company a "sector perform" rating in a report on Wednesday, January 29th. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $49.44.

Klaviyo Price Performance

Klaviyo stock traded down $2.48 during mid-day trading on Thursday, hitting $41.79. The company's stock had a trading volume of 2,914,094 shares, compared to its average volume of 1,316,713. The firm's 50 day moving average is $43.72 and its 200 day moving average is $37.92. The company has a market cap of $11.27 billion, a PE ratio of -232.14 and a beta of 0.60. Klaviyo has a 52-week low of $21.26 and a 52-week high of $49.55.

Klaviyo (NYSE:KVYO - Get Free Report) last announced its quarterly earnings data on Wednesday, February 19th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.12). Klaviyo had a positive return on equity of 0.90% and a negative net margin of 4.92%. The business had revenue of $270.16 million during the quarter, compared to analysts' expectations of $257.24 million. As a group, analysts forecast that Klaviyo will post 0.04 EPS for the current year.

Insiders Place Their Bets

In other Klaviyo news, President Stephen Eric Rowland sold 4,536 shares of the firm's stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $40.04, for a total value of $181,621.44. Following the completion of the sale, the president now owns 260,403 shares in the company, valued at approximately $10,426,536.12. This trade represents a 1.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Amanda Whalen sold 1,050 shares of the firm's stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $40.07, for a total value of $42,073.50. Following the transaction, the chief financial officer now owns 395,616 shares of the company's stock, valued at $15,852,333.12. This trade represents a 0.26 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 114,536 shares of company stock worth $4,720,953. 53.24% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Klaviyo

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Klaviyo by 9.1% during the 4th quarter. Vanguard Group Inc. now owns 7,721,855 shares of the company's stock worth $318,449,000 after buying an additional 646,628 shares during the period. Whale Rock Capital Management LLC lifted its position in shares of Klaviyo by 7.4% during the 4th quarter. Whale Rock Capital Management LLC now owns 3,868,451 shares of the company's stock worth $159,535,000 after buying an additional 267,845 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Klaviyo by 5.0% during the 4th quarter. Bank of New York Mellon Corp now owns 2,926,187 shares of the company's stock worth $120,676,000 after buying an additional 140,127 shares during the period. Clearbridge Investments LLC lifted its position in shares of Klaviyo by 0.9% during the 4th quarter. Clearbridge Investments LLC now owns 2,168,336 shares of the company's stock worth $89,422,000 after buying an additional 19,567 shares during the period. Finally, Franklin Resources Inc. lifted its position in shares of Klaviyo by 48.6% during the 4th quarter. Franklin Resources Inc. now owns 1,943,523 shares of the company's stock worth $80,151,000 after buying an additional 635,962 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.