Klaviyo (NYSE:KVYO) Price Target Raised to $41.00 at Wells Fargo & Company

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

A number of other equities analysts have also recently commented on KVYO. 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. Macquarie reissued a “neutral” rating and set a $36.00 price target on shares of Klaviyo in a research note on Friday, November 8th. Cantor Fitzgerald increased their target price on Klaviyo from $33.00 to $47.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. William Blair restated an “outperform” rating on shares of Klaviyo in a report on Thursday, December 19th. Finally, Piper Sandler upped their target price on shares of Klaviyo from $45.00 to $50.00 and gave the stock an “overweight” rating in a research note on Monday. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $41.41.

Klaviyo Price Performance

NYSE:KVYO opened at $40.98 on Tuesday. The company has a market cap of $11.05 billion, a price-to-earnings ratio of -227.65 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 $39.19 and its two-hundred day simple moving average is $33.60.

Klaviyo (NYSE:KVYO) last issued its quarterly earnings data 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 period last year, the company posted ($1.24) EPS. The business’s revenue was up 33.7% on a year-over-year basis. As a group, analysts anticipate that Klaviyo will post 0.03 EPS for the current year.

Insider Transactions at Klaviyo

In other news, insider Landon Edmond sold 40,000 shares of Klaviyo stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $34.56, for a total value of $1,382,400.00. Following the sale, the insider now directly owns 236,621 shares of the company’s stock, 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 legal filing with the SEC, which is available at this link. Also, CFO Amanda Whalen sold 15,000 shares of Klaviyo 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 sale, 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 117,650 shares of company stock valued at $4,323,105 in the last ninety days. 53.24% of the stock is currently owned by corporate insiders.

Institutional Trading of Klaviyo

Several large investors have recently bought and sold shares of KVYO. Arizona State Retirement System increased its holdings in shares of Klaviyo by 67.1% in the second quarter. Arizona State Retirement System now owns 16,221 shares of the company’s stock valued at $404,000 after purchasing an additional 6,512 shares during the last quarter. Renaissance Technologies LLC increased its position in Klaviyo by 40.8% during the second quarter. Renaissance Technologies LLC now owns 238,900 shares of the company’s stock worth $5,946,000 after purchasing an additional 69,200 shares during the last quarter. Blair William & Co. IL raised its stake in Klaviyo by 14.3% during the second quarter. Blair William & Co. IL now owns 200,680 shares of the company’s stock worth $4,995,000 after purchasing an additional 25,149 shares during the period. XTX Topco Ltd boosted its holdings in Klaviyo by 114.7% in the 2nd quarter. XTX Topco Ltd now owns 24,363 shares of the company’s stock valued at $606,000 after purchasing an additional 13,016 shares during the last quarter. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of Klaviyo in the 2nd quarter valued at approximately $747,000. Hedge funds and other institutional investors own 45.43% of the company’s stock.

About Klaviyo

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.