Wells Fargo & Company Has Lowered Expectations for Klaviyo (NYSE:KVYO) Stock Price

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

Other equities research analysts also recently issued research reports about the company. Loop Capital lifted their target price on Klaviyo from $45.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, December 23rd. Needham & Company LLC lifted their price objective on shares of Klaviyo from $46.00 to $56.00 and gave the company a “buy” rating in a research note on Thursday. KeyCorp increased their price objective on shares of Klaviyo from $42.00 to $45.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. William Blair reissued an “outperform” rating on shares of Klaviyo in a report on Thursday, December 19th. Finally, Citigroup upped their price target on shares of Klaviyo from $39.00 to $48.00 and gave the company a “neutral” rating in a report on Tuesday, February 11th. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $49.44.

Klaviyo Trading Down 5.6 %

Shares of Klaviyo stock opened at $41.79 on Thursday. Klaviyo has a 12-month low of $21.26 and a 12-month high of $49.55. The firm’s 50 day simple moving average is $43.72 and its two-hundred day simple moving average is $38.04. The firm has a market capitalization of $11.27 billion, a price-to-earnings ratio of -232.14 and a beta of 0.60.

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 the consensus estimate of $0.06 by ($0.12). Klaviyo had a negative net margin of 4.92% and a positive return on equity of 0.89%. The firm had revenue of $270.16 million during the quarter, compared to analyst estimates of $257.24 million. On average, sell-side analysts predict that Klaviyo will post 0.04 EPS for the current fiscal year.

Insider Activity at Klaviyo

In related news, President Stephen Eric Rowland sold 4,536 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $40.04, for a total transaction of $181,621.44. Following the completion of the sale, the president now directly owns 260,403 shares in the company, valued at approximately $10,426,536.12. The trade was a 1.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Amanda Whalen sold 23,950 shares of the stock in a transaction on Friday, December 6th. The shares were sold at an average price of $40.04, for a total value 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 approximately $15,840,464.64. This represents a 5.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 114,536 shares of company stock valued at $4,720,953. 53.24% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Klaviyo

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. lifted its stake in shares of Klaviyo by 145.6% in the third quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company’s stock worth $48,000 after buying an additional 808 shares in the last quarter. CIBC Private Wealth Group LLC grew its stake in 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 acquiring an additional 1,102 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in Klaviyo by 77.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,874 shares of the company’s stock valued at $77,000 after acquiring an additional 818 shares during the last quarter. West Tower Group LLC purchased a new position in Klaviyo in the 3rd quarter worth approximately $177,000. Finally, SBI Securities Co. Ltd. acquired a new position in shares of Klaviyo during the 4th quarter worth approximately $196,000. Institutional investors and hedge funds own 45.43% of the company’s stock.

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.