Klaviyo (NYSE:KVYO) Stock Rating Upgraded by Wells Fargo & Company

Klaviyo (NYSE:KVYO) was upgraded by analysts at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a report released on Friday, MarketBeat reports. The brokerage currently has a $40.00 price objective on the stock, up from their prior price objective of $32.00. Wells Fargo & Company‘s price objective suggests a potential upside of 18.80% from the company’s current price.

Several other research analysts also recently weighed in on KVYO. Canaccord Genuity Group boosted their price target on Klaviyo from $40.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Truist Financial lowered their price objective on Klaviyo from $55.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, April 16th. The Goldman Sachs Group reduced their target price on Klaviyo from $51.00 to $44.00 and set a “buy” rating on the stock in a research report on Wednesday, May 7th. Mizuho decreased their price target on Klaviyo from $52.00 to $40.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 15th. Finally, Robert W. Baird dropped their price objective on shares of Klaviyo from $54.00 to $37.00 and set an “outperform” rating for the company in a research note on Wednesday, April 23rd. Four analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $43.21.

Klaviyo Stock Down 1.3%

Shares of NYSE:KVYO opened at $33.67 on Friday. The company has a market capitalization of $10.00 billion, a P/E ratio of -187.06 and a beta of 1.44. Klaviyo has a 52-week low of $21.26 and a 52-week high of $49.55. The stock’s fifty day simple moving average is $31.40 and its 200-day simple moving average is $36.90.

Klaviyo (NYSE:KVYO) last released its earnings results on Tuesday, May 6th. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. The company had revenue of $279.83 million for the quarter, compared to analyst estimates of $267.79 million. Klaviyo had a negative net margin of 4.92% and a positive return on equity of 0.89%. The firm’s quarterly revenue was up 33.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.13 EPS. On average, sell-side analysts anticipate that Klaviyo will post 0.04 earnings per share for the current year.

Insider Activity at Klaviyo

In related news, major shareholder Jeff Fagnan purchased 3,900 shares of the firm’s stock in a transaction on Wednesday, April 9th. The stock was purchased at an average price of $25.77 per share, for a total transaction of $100,503.00. Following the acquisition, the insider now directly owns 3,900 shares in the company, valued at $100,503. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Carmel Galvin sold 11,156 shares of the stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $35.01, for a total transaction of $390,571.56. Following the completion of the sale, the insider now directly owns 711,805 shares of the company’s stock, valued at $24,920,293.05. This trade represents a 1.54% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,072,320 shares of company stock worth $267,745,145. 49.92% of the stock is currently owned by corporate insiders.

Institutional Trading of Klaviyo

Large investors have recently modified their holdings of the business. TFC Financial Management Inc. acquired a new position in shares of Klaviyo in the first quarter worth about $27,000. CWM LLC increased its holdings in Klaviyo by 227.5% during the 1st quarter. CWM LLC now owns 930 shares of the company’s stock worth $28,000 after purchasing an additional 646 shares during the last quarter. State of Wyoming acquired a new position in shares of Klaviyo in the 1st quarter valued at approximately $42,000. Caitong International Asset Management Co. Ltd boosted its stake in shares of Klaviyo by 217.9% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,421 shares of the company’s stock valued at $43,000 after buying an additional 974 shares during the last quarter. Finally, CIBC Private Wealth Group LLC boosted 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 valued at $72,000 after buying an additional 1,102 shares during the last quarter. 45.43% of the stock is currently owned by institutional investors and hedge funds.

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.