Klaviyo (NYSE:KVYO) Rating Increased to Overweight 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 report report published on Friday, MarketBeat reports. Wells Fargo & Company currently has $40.00 price target on the stock, up from their previous price target of $32.00.

KVYO has been the subject of several other research reports. Needham & Company LLC dropped their price target on shares of Klaviyo from $56.00 to $45.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. The Goldman Sachs Group decreased their target price on shares of Klaviyo from $51.00 to $44.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Mizuho reduced their target price on Klaviyo from $52.00 to $40.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. Piper Sandler upped their price objective on Klaviyo from $35.00 to $40.00 and gave the company an "overweight" rating in a research note on Wednesday, May 7th. Finally, Stephens initiated coverage on shares of Klaviyo in a research report on Wednesday, March 19th. They set an "overweight" rating and a $43.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $43.21.

Klaviyo Stock Up 3.6%

NYSE KVYO traded up $1.19 during mid-day trading on Friday, hitting $34.56. The stock had a trading volume of 1,747,631 shares, compared to its average volume of 1,545,839. Klaviyo has a 52-week low of $21.26 and a 52-week high of $49.55. The company has a 50 day simple moving average of $31.55 and a 200 day simple moving average of $36.87. The company has a market cap of $10.26 billion, a price-to-earnings ratio of -192.01 and a beta of 1.44.

Klaviyo (NYSE:KVYO - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.14 earnings per share for the quarter, topping analysts' consensus estimates of $0.12 by $0.02. The company had revenue of $279.83 million during the quarter, compared to analysts' expectations of $267.79 million. Klaviyo had a positive return on equity of 0.89% and a negative net margin of 4.92%. The business's revenue for the quarter was up 33.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.13 earnings per share. As a group, equities analysts anticipate that Klaviyo will post 0.04 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Jeff Fagnan purchased 3,900 shares of Klaviyo stock in a transaction on Wednesday, April 9th. The stock was bought at an average price of $25.77 per share, with a total value of $100,503.00. Following the completion of the transaction, the insider now directly owns 3,900 shares of the company's stock, valued at approximately $100,503. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Summit Partners L. P sold 4,000,000 shares of the stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $33.00, for a total value of $132,000,000.00. The disclosure for this sale can be found here. Insiders have sold 8,087,320 shares of company stock worth $268,247,195 in the last 90 days. Company insiders own 49.92% of the company's stock.

Hedge Funds Weigh In On Klaviyo

Several large investors have recently bought and sold shares of KVYO. Bank Julius Baer & Co. Ltd Zurich grew its holdings in shares of Klaviyo by 8.0% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,836 shares of the company's stock worth $220,000 after purchasing an additional 359 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in shares of Klaviyo by 22.7% during the first quarter. Advisors Asset Management Inc. now owns 2,731 shares of the company's stock valued at $83,000 after acquiring an additional 506 shares during the period. Victory Capital Management Inc. grew its position in shares of Klaviyo by 10.3% during the 4th quarter. Victory Capital Management Inc. now owns 6,469 shares of the company's stock worth $267,000 after buying an additional 604 shares during the period. CWM LLC lifted its stake in shares of Klaviyo by 227.5% in the 1st quarter. CWM LLC now owns 930 shares of the company's stock valued at $28,000 after purchasing an additional 646 shares during the period. Finally, Arizona State Retirement System grew its position in shares of Klaviyo by 4.0% during the 4th quarter. Arizona State Retirement System now owns 16,854 shares of the company's stock worth $695,000 after buying an additional 648 shares during the period. 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.