Klaviyo (NYSE:KVYO) Given New $24.00 Price Target at Wells Fargo & Company

Klaviyo (NYSE:KVYO – Get Free Report) had its price target upped by equities researchers at Wells Fargo & Company from $22.00 to $24.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 16.26% from the stock’s current price.

Several other research firms also recently weighed in on KVYO. Stifel Nicolaus set a $22.00 price target on shares of Klaviyo in a research note on Thursday, September 10th. Barclays decreased their price target on shares of Klaviyo from $25.00 to $22.00 and set an “overweight” rating for the company in a report on Thursday, August 6th. KeyCorp lowered their price objective on shares of Klaviyo from $35.00 to $29.00 and set an “overweight” rating for the company in a research note on Thursday, August 6th. TD Cowen dropped their price objective on shares of Klaviyo from $27.00 to $26.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. Finally, Morgan Stanley set a $31.00 target price on Klaviyo in a research report on Thursday, August 6th. Seventeen analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $26.95.

Check Out Our Latest Stock Report on Klaviyo

Klaviyo Stock Up 2.3%

Shares of Klaviyo stock traded up $0.46 during trading on Wednesday, reaching $20.64. The company’s stock had a trading volume of 531,181 shares, compared to its average volume of 5,579,121. The company has a market cap of $5.88 billion, a price-to-earnings ratio of 1,032.47 and a beta of 0.67. Klaviyo has a 1-year low of $12.53 and a 1-year high of $33.35. The company has a 50-day simple moving average of $17.68 and a two-hundred day simple moving average of $18.19.

Klaviyo (NYSE:KVYO – Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported $0.19 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.19. The business had revenue of $370.58 million for the quarter, compared to analyst estimates of $362.08 million. During the same period in the prior year, the company earned $0.16 earnings per share. The company’s quarterly revenue was up 26.4% on a year-over-year basis. As a group, analysts anticipate that Klaviyo will post 0.20 earnings per share for the current year.

Insider Activity at Klaviyo

In other news, CFO Amanda Whalen sold 14,000 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $18.47, for a total transaction of $258,580.00. Following the sale, the chief financial officer owned 824,192 shares of the company’s stock, valued at $15,222,826.24. This trade represents a 1.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Susan St. Ledger sold 2,328 shares of Klaviyo stock in a transaction on Friday, September 11th. The shares were sold at an average price of $15.93, for a total transaction of $37,085.04. Following the completion of the transaction, the director directly owned 23,433 shares of the company’s stock, valued at $373,287.69. The trade was a 9.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 5,275,468 shares of company stock valued at $93,822,653 over the last ninety days. Corporate insiders own 37.42% of the company’s stock.

Institutional Investors Weigh In On Klaviyo

Several hedge funds have recently modified their holdings of the company. Optiver Holding B.V. acquired a new position in Klaviyo in the 1st quarter worth about $39,000. Rockefeller Capital Management L.P. raised its stake in shares of Klaviyo by 2,641.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 3,207 shares of the company’s stock worth $104,000 after buying an additional 3,090 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of Klaviyo by 2,085.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 3,802 shares of the company’s stock worth $74,000 after buying an additional 3,628 shares during the period. Nykredit A S acquired a new stake in Klaviyo in the 2nd quarter valued at $90,000. Finally, State of Alaska Department of Revenue purchased a new stake in Klaviyo in the 3rd quarter worth $101,000. 45.43% of the stock is owned by hedge funds and other institutional investors.

Klaviyo Company Profile

(Get Free Report)

Klaviyo, Inc (NYSE: KVYO) provides a customer data and marketing automation platform designed primarily for businesses that sell online. Its software helps organizations collect, organize and analyze customer information, then use those insights to create personalized marketing and customer engagement campaigns.

The company’s platform supports communication across channels including email, SMS and mobile push notifications. Its products provide tools for audience segmentation, campaign orchestration, automation, analytics and reporting, with capabilities intended to help businesses improve customer acquisition, engagement and retention.

Further Reading

Analyst Recommendations for Klaviyo (NYSE:KVYO)

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