Wells Fargo & Company Cuts Klaviyo (NYSE:KVYO) Price Target to $45.00

Klaviyo (NYSE:KVYO) had its target price cut by equities research analysts at Wells Fargo & Company from $48.00 to $45.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target would indicate a potential downside of 4.13% from the company’s current price.

KVYO has been the topic of a number of other research reports. Needham & Company LLC increased their price objective on shares of Klaviyo from $46.00 to $56.00 and gave the company a “buy” rating in a research report on Thursday. Macquarie restated a “neutral” rating and set a $36.00 price objective on shares of Klaviyo in a research report on Friday, November 8th. Canaccord Genuity Group increased their price objective on shares of Klaviyo from $32.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Piper Sandler increased their price objective on shares of Klaviyo from $50.00 to $53.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Loop Capital increased their price objective on shares of Klaviyo from $45.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, December 23rd. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $45.53.

Klaviyo Stock Performance

Shares of NYSE KVYO opened at $46.94 on Thursday. The firm’s 50 day moving average price is $43.56 and its 200-day moving average price is $37.75. The company has a market cap of $12.66 billion, a PE ratio of -260.76 and a beta of 0.60. Klaviyo has a 52-week low of $21.26 and a 52-week high of $49.55.

Klaviyo (NYSE:KVYO) last issued 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 positive return on equity of 0.86% and a negative net margin of 5.23%. On average, analysts forecast that Klaviyo will post 0.03 earnings per share for the current fiscal year.

Insider Activity at Klaviyo

In other Klaviyo news, CFO Amanda Whalen sold 15,000 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $45.85, for a total transaction of $687,750.00. Following the completion of the transaction, the chief financial officer now owns 376,820 shares in the company, valued at $17,277,197. This trade represents a 3.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Landon Edmond sold 40,000 shares of the stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $41.80, for a total transaction of $1,672,000.00. Following the transaction, the insider now owns 298,607 shares of the company’s stock, valued at $12,481,772.60. This trade represents a 11.81 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 114,536 shares of company stock valued at $4,720,953. Corporate insiders own 53.24% of the company’s stock.

Hedge Funds Weigh In On Klaviyo

Several institutional investors have recently bought and sold shares of KVYO. Lisanti Capital Growth LLC bought a new stake in shares of Klaviyo in the 3rd quarter worth about $5,513,000. Pier 88 Investment Partners LLC bought a new stake in shares of Klaviyo in the 3rd quarter worth about $966,000. SpiderRock Advisors LLC lifted its holdings in shares of Klaviyo by 1,571.7% in the 3rd quarter. SpiderRock Advisors LLC now owns 501,500 shares of the company’s stock worth $17,743,000 after acquiring an additional 471,500 shares during the last quarter. Integrated Wealth Concepts LLC bought a new stake in shares of Klaviyo in the 3rd quarter worth about $5,113,000. Finally, Renaissance Capital LLC lifted its holdings in shares of Klaviyo by 56.4% in the 4th quarter. Renaissance Capital LLC now owns 122,646 shares of the company’s stock worth $5,058,000 after acquiring an additional 44,245 shares during the last quarter. Institutional investors own 45.43% of the company’s stock.

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.