Klaviyo (NYSE:KVYO) Upgraded at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Klaviyo (NYSE:KVYO - Free Report) from an equal weight rating to an overweight rating in a research note published on Friday morning, Marketbeat Ratings reports. The brokerage currently has $40.00 target price on the stock, up from their previous target price of $32.00.

A number of other analysts also recently weighed in on KVYO. Truist Financial reduced their target price on shares of Klaviyo from $55.00 to $40.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. 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. Scotiabank set a $35.00 target price on Klaviyo and gave the stock a "sector perform" rating in a report on Wednesday, May 7th. Morgan Stanley decreased their price target on Klaviyo from $50.00 to $34.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Finally, Needham & Company LLC dropped their price objective on shares of Klaviyo from $56.00 to $45.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Four research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $43.21.

Klaviyo Trading Down 0.6%

KVYO traded down $0.21 during trading on Friday, hitting $33.40. 2,563,837 shares of the company traded hands, compared to its average volume of 1,542,453. The company has a market cap of $9.92 billion, a PE ratio of -185.56 and a beta of 1.44. The stock's 50-day simple moving average is $31.40 and its two-hundred day simple moving average is $36.90. Klaviyo has a 1 year low of $21.26 and a 1 year high of $49.55.

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

Insider Transactions at Klaviyo

In other Klaviyo news, CFO Amanda Whalen sold 15,000 shares of the company's stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $26.70, for a total transaction of $400,500.00. Following the transaction, the chief financial officer now owns 553,943 shares in the company, valued at approximately $14,790,278.10. This represents a 2.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Summit Partners L. P sold 4,000,000 shares of Klaviyo stock in a transaction on Monday, May 19th. The stock was sold at an average price of $33.00, for a total transaction of $132,000,000.00. The disclosure for this sale can be found here. Insiders sold 8,087,320 shares of company stock valued at $268,247,195 in the last quarter. 49.92% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Klaviyo

Several hedge funds have recently made changes to their positions in KVYO. Vanguard Group Inc. lifted its position in Klaviyo by 9.7% during the 1st quarter. Vanguard Group Inc. now owns 8,467,933 shares of the company's stock worth $256,240,000 after acquiring an additional 746,078 shares during the period. Alliancebernstein L.P. raised its stake in shares of Klaviyo by 0.6% in the first quarter. Alliancebernstein L.P. now owns 4,019,280 shares of the company's stock worth $121,623,000 after purchasing an additional 23,064 shares during the last quarter. Whale Rock Capital Management LLC lifted its holdings in shares of Klaviyo by 7.4% during the fourth quarter. Whale Rock Capital Management LLC now owns 3,868,451 shares of the company's stock worth $159,535,000 after purchasing an additional 267,845 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Klaviyo by 5.0% during the fourth quarter. Bank of New York Mellon Corp now owns 2,926,187 shares of the company's stock worth $120,676,000 after purchasing an additional 140,127 shares during the period. Finally, 1832 Asset Management L.P. boosted its position in Klaviyo by 38.7% in the first quarter. 1832 Asset Management L.P. now owns 2,248,800 shares of the company's stock valued at $68,049,000 after buying an additional 627,500 shares during the last quarter. 45.43% of the stock is 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.