Klaviyo (NYSE:KVYO) Given New $32.00 Price Target at Wells Fargo & Company

Klaviyo (NYSE:KVYO - Free Report) had its price target raised by Wells Fargo & Company from $26.00 to $32.00 in a research report report published on Monday, MarketBeat Ratings reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Several other research firms have also commented on KVYO. Cantor Fitzgerald increased their price objective on shares of Klaviyo from $47.00 to $54.00 and gave the company an "overweight" rating in a research report on Thursday, February 20th. The Goldman Sachs Group lifted their price target on Klaviyo from $45.00 to $51.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. Stifel Nicolaus upped their price objective on Klaviyo from $45.00 to $54.00 and gave the company a "buy" rating in a research report on Thursday, February 20th. Barclays dropped their target price on Klaviyo from $51.00 to $35.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Finally, Robert W. Baird decreased their price target on Klaviyo from $54.00 to $37.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, Klaviyo presently has a consensus rating of "Moderate Buy" and an average target price of $43.11.

Klaviyo Price Performance

Shares of NYSE:KVYO traded up $0.14 during trading on Monday, hitting $33.38. 1,937,400 shares of the company's stock were exchanged, compared to its average volume of 1,408,102. Klaviyo has a 52-week low of $21.26 and a 52-week high of $49.55. The business's 50-day simple moving average is $30.54 and its 200 day simple moving average is $37.38. The company has a market cap of $9.12 billion, a price-to-earnings ratio of -185.44 and a beta of 1.35.

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

Insider Buying and Selling

In other news, major shareholder Summit Partners L. P sold 2,000,000 shares of the firm's stock in a transaction on Friday, March 14th. The stock was sold at an average price of $32.44, for a total value of $64,880,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Jeff Fagnan bought 3,900 shares of Klaviyo stock in a transaction that occurred on Wednesday, April 9th. The shares were acquired at an average cost of $25.77 per share, for a total transaction of $100,503.00. Following the completion of the transaction, the insider now directly owns 3,900 shares in the company, valued at $100,503. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 2,073,770 shares of company stock worth $67,259,606 in the last three months. 49.92% of the stock is owned by insiders.

Hedge Funds Weigh In On Klaviyo

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in Klaviyo by 9.7% during the 1st quarter. Vanguard Group Inc. now owns 8,467,933 shares of the company's stock valued at $256,240,000 after purchasing an additional 746,078 shares in the last quarter. Encompass More Asset Management acquired a new position in shares of Klaviyo in the 1st quarter valued at $549,000. Blair William & Co. IL raised its stake in Klaviyo by 12.1% in the 1st quarter. Blair William & Co. IL now owns 231,153 shares of the company's stock worth $6,995,000 after acquiring an additional 24,929 shares during the last quarter. Jefferies Financial Group Inc. acquired a new stake in Klaviyo during the 1st quarter worth about $1,858,000. Finally, Alberta Investment Management Corp purchased a new stake in Klaviyo during the 1st quarter valued at about $1,065,000. Institutional investors and hedge funds 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.