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

Klaviyo (NYSE:KVYO) had its price target lowered by Wells Fargo & Company from $48.00 to $45.00 in a research note published on Thursday,Benzinga reports. The firm currently has an equal weight rating on the stock.

KVYO has been the subject of a number of other reports. Cantor Fitzgerald upped their target price on Klaviyo from $33.00 to $47.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Morgan Stanley lifted 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. Macquarie reiterated a “neutral” rating and issued a $36.00 price target on shares of Klaviyo in a report on Friday, November 8th. William Blair reaffirmed an “outperform” rating on shares of Klaviyo in a report on Thursday, December 19th. Finally, Needham & Company LLC upped their price target on shares of Klaviyo from $46.00 to $56.00 and gave the company a “buy” rating in a report on Thursday. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.44.

Klaviyo Stock Performance

KVYO opened at $44.23 on Thursday. The business has a fifty day simple moving average of $43.66 and a 200-day simple moving average of $37.80. Klaviyo has a 52 week low of $21.26 and a 52 week high of $49.55.

Klaviyo (NYSE:KVYO) last released its earnings results on Wednesday, February 19th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.12). Klaviyo had a negative net margin of 4.92% and a positive return on equity of 0.90%. The company had revenue of $270.16 million during the quarter, compared to analysts’ expectations of $257.24 million. On average, equities analysts forecast that Klaviyo will post 0.04 EPS for the current year.

Insider Transactions at Klaviyo

In related news, CFO Amanda Whalen sold 23,950 shares of Klaviyo stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $40.04, for a total transaction of $958,958.00. Following the completion of the transaction, the chief financial officer now directly owns 395,616 shares of the company’s stock, valued at $15,840,464.64. This trade represents a 5.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Stephen Eric Rowland sold 4,536 shares of the business’s stock in a transaction 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 transaction, the president now directly owns 260,403 shares in the company, valued at approximately $10,426,536.12. This represents a 1.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 114,536 shares of company stock worth $4,720,953 over the last three months. 53.24% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Klaviyo

A number of large investors have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. boosted its position in Klaviyo by 145.6% during the third quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company’s stock valued at $48,000 after purchasing an additional 808 shares during the last quarter. CIBC Private Wealth Group LLC lifted its stake in shares of Klaviyo by 169.5% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,752 shares of the company’s stock worth $72,000 after buying an additional 1,102 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Klaviyo by 77.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,874 shares of the company’s stock worth $77,000 after acquiring an additional 818 shares during the period. West Tower Group LLC acquired a new position in Klaviyo in the 3rd quarter valued at $177,000. Finally, SBI Securities Co. Ltd. acquired a new position in shares of Klaviyo in the fourth quarter valued at about $196,000. 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.