Klaviyo (NYSE:KVYO) Now Covered by Analysts at Wells Fargo & Company

Wells Fargo & Company started coverage on shares of Klaviyo (NYSE:KVYO) in a research note released on Wednesday, MarketBeat reports. The firm issued an equal weight rating and a $37.00 price target on the stock.

Several other analysts also recently weighed in on KVYO. Barclays boosted their price objective on shares of Klaviyo from $32.00 to $41.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Cantor Fitzgerald upped their price objective on shares of Klaviyo from $31.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Benchmark began coverage on Klaviyo in a research report on Monday, September 30th. They set a “buy” rating and a $42.00 target price on the stock. KeyCorp raised Klaviyo from a “sector weight” rating to an “overweight” rating and set a $33.00 target price for the company in a research report on Thursday, August 8th. Finally, Piper Sandler lifted their price target on Klaviyo from $30.00 to $34.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $36.13.

Klaviyo Trading Down 0.8 %

Shares of KVYO stock opened at $37.12 on Wednesday. The company has a market cap of $9.82 billion and a P/E ratio of -26.33. The firm has a fifty day moving average price of $33.01 and a 200 day moving average price of $27.01. Klaviyo has a 12 month low of $21.26 and a 12 month high of $38.10.

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

Insider Activity

In related news, major shareholder Summit Partners L. P sold 242,601 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $31.78, for a total transaction of $7,709,859.78. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, major shareholder Jeff Fagnan bought 9,485 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were purchased at an average price of $26.43 per share, for a total transaction of $250,688.55. Following the completion of the transaction, the insider now owns 9,485 shares in the company, valued at $250,688.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Summit Partners L. P sold 242,601 shares of Klaviyo stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $31.78, for a total value of $7,709,859.78. The disclosure for this sale can be found here. Insiders sold 853,363 shares of company stock valued at $26,937,202 in the last three months. 53.24% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Klaviyo

Several large investors have recently made changes to their positions in the business. nVerses Capital LLC acquired a new stake in shares of Klaviyo during the third quarter valued at about $53,000. William Marsh Rice University bought a new position in shares of Klaviyo in the 3rd quarter worth about $245,000. Renaissance Capital LLC lifted its holdings in shares of Klaviyo by 134.6% in the 3rd quarter. Renaissance Capital LLC now owns 78,401 shares of the company’s stock worth $2,774,000 after purchasing an additional 44,977 shares during the last quarter. Cabot Wealth Management Inc. boosted its holdings in shares of Klaviyo by 101.1% during the third quarter. Cabot Wealth Management Inc. now owns 90,425 shares of the company’s stock valued at $3,199,000 after acquiring an additional 45,451 shares during the period. Finally, Creative Planning acquired a new position in Klaviyo during the 3rd quarter valued at about $254,000. 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.