Klaviyo (NYSE:KVYO) Research Coverage Started at Wells Fargo & Company

Equities researchers at Wells Fargo & Company started coverage on shares of Klaviyo (NYSE:KVYO) in a research note issued on Wednesday, Briefing.com reports. The brokerage set an “equal weight” rating and a $37.00 price target on the stock. Wells Fargo & Company‘s price objective would suggest a potential downside of 1.12% from the stock’s current price.

KVYO has been the subject of a number of other research reports. Benchmark assumed coverage on Klaviyo in a research report on Monday, September 30th. They issued a “buy” rating and a $42.00 price objective for the company. KeyCorp raised Klaviyo from a “sector weight” rating to an “overweight” rating and set a $33.00 price target for the company in a report on Thursday, August 8th. Robert W. Baird upped their price objective on shares of Klaviyo from $35.00 to $42.00 and gave the company an “outperform” rating in a report on Thursday, October 10th. Barclays lifted their target price on shares of Klaviyo from $32.00 to $41.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Finally, Needham & Company LLC restated a “buy” rating and set a $40.00 price target on shares of Klaviyo in a research note on Wednesday, September 4th. Four investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Klaviyo presently has an average rating of “Moderate Buy” and an average target price of $36.89.

Klaviyo Price Performance

Shares of KVYO stock opened at $37.42 on Wednesday. The stock’s 50-day moving average is $32.73 and its 200 day moving average is $26.94. Klaviyo has a 1-year low of $21.26 and a 1-year high of $38.10. The company has a market cap of $9.90 billion and a P/E ratio of -26.54.

Klaviyo (NYSE:KVYO) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.05. Klaviyo had a negative net margin of 42.15% and a negative return on equity of 32.19%. The business had revenue of $222.21 million for the quarter, compared to analysts’ expectations of $212.34 million. During the same period last year, the business earned $0.09 EPS. The company’s revenue was up 35.0% compared to the same quarter last year. On average, analysts anticipate that Klaviyo will post -0.01 EPS for the current year.

Insider Activity

In other Klaviyo news, CFO Amanda Whalen sold 10,000 shares of the stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $35.36, for a total transaction of $353,600.00. Following the transaction, the chief financial officer now owns 422,813 shares in the company, valued at approximately $14,950,667.68. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CFO Amanda Whalen sold 10,000 shares of the company’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $35.36, for a total transaction of $353,600.00. Following the completion of the sale, the chief financial officer now owns 422,813 shares of the company’s stock, valued at approximately $14,950,667.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Stephen Eric Rowland sold 18,114 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $31.24, for a total transaction of $565,881.36. Following the completion of the sale, the president now owns 192,488 shares of the company’s stock, valued at approximately $6,013,325.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 853,363 shares of company stock worth $26,937,202 in the last ninety days. Company insiders own 53.24% of the company’s stock.

Hedge Funds Weigh In On Klaviyo

A number of institutional investors have recently bought and sold shares of KVYO. Goldman Sachs Group Inc. lifted its holdings in Klaviyo by 243.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,472,140 shares of the company’s stock valued at $40,896,000 after acquiring an additional 1,042,902 shares during the last quarter. Moody National Bank Trust Division raised its holdings in Klaviyo by 87.9% in the 1st quarter. Moody National Bank Trust Division now owns 15,639 shares of the company’s stock valued at $398,000 after buying an additional 7,316 shares during the period. Salem Investment Counselors Inc. lifted its position in Klaviyo by 161.1% in the first quarter. Salem Investment Counselors Inc. now owns 2,350 shares of the company’s stock valued at $60,000 after buying an additional 1,450 shares during the last quarter. Claro Advisors LLC purchased a new position in Klaviyo during the first quarter worth about $23,510,000. Finally, Mayflower Financial Advisors LLC acquired a new stake in shares of Klaviyo during the first quarter valued at about $6,203,000. 45.43% of the stock is owned by hedge funds and other institutional investors.

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.