Klaviyo (NYSE:KVYO) Coverage Initiated by Analysts at Wells Fargo & Company

Wells Fargo & Company assumed coverage on shares of Klaviyo (NYSE:KVYO) in a report released on Wednesday, Marketbeat Ratings reports. The brokerage issued an equal weight rating and a $37.00 price objective on the stock.

KVYO has been the subject of a number of other research reports. Piper Sandler upped their price objective on shares of Klaviyo from $30.00 to $34.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Barclays boosted their price target on Klaviyo from $32.00 to $41.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. KeyCorp upgraded Klaviyo from a “sector weight” rating to an “overweight” rating and set a $33.00 price objective for the company in a research report on Thursday, August 8th. Needham & Company LLC restated a “buy” rating and set a $40.00 price objective on shares of Klaviyo in a research report on Wednesday, September 4th. Finally, Robert W. Baird raised their target price on Klaviyo from $35.00 to $42.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $36.87.

Klaviyo Stock Up 0.4 %

KVYO opened at $37.52 on Wednesday. Klaviyo has a 12-month low of $21.26 and a 12-month high of $38.50. The firm has a market capitalization of $9.93 billion and a P/E ratio of -26.61. The stock’s 50 day moving average price is $33.27 and its two-hundred day moving average price is $27.18.

Klaviyo (NYSE:KVYO) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 42.15% and a negative return on equity of 32.19%. Klaviyo’s quarterly revenue was up 35.0% on a year-over-year basis. During the same quarter last year, the company posted $0.09 earnings per share. As a group, analysts anticipate that Klaviyo will post -0.01 earnings per share for the current year.

Insider Buying and Selling at Klaviyo

In related news, President Stephen Eric Rowland sold 18,114 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $37.19, for a total transaction of $673,659.66. Following the sale, the president now directly owns 192,488 shares in the company, valued at $7,158,628.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Klaviyo news, CFO Amanda Whalen sold 10,000 shares of the firm’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $35.36, for a total value of $353,600.00. Following the completion of the sale, the chief financial officer now owns 422,813 shares in the company, valued at approximately $14,950,667.68. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President Stephen Eric Rowland sold 18,114 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $37.19, for a total transaction of $673,659.66. Following the completion of the transaction, the president now directly owns 192,488 shares of the company’s stock, valued at approximately $7,158,628.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 871,477 shares of company stock worth $27,610,861 over the last ninety days. Corporate insiders own 53.24% of the company’s stock.

Institutional Trading of Klaviyo

Several hedge funds have recently modified their holdings of KVYO. nVerses Capital LLC acquired a new position in Klaviyo during the 3rd quarter worth $53,000. Salem Investment Counselors Inc. lifted its stake in shares of Klaviyo by 161.1% during the first quarter. Salem Investment Counselors Inc. now owns 2,350 shares of the company’s stock valued at $60,000 after acquiring an additional 1,450 shares during the period. EntryPoint Capital LLC acquired a new position in shares of Klaviyo during the first quarter valued at $71,000. SG Americas Securities LLC bought a new position in Klaviyo in the second quarter valued at about $236,000. Finally, William Marsh Rice University acquired a new stake in Klaviyo in the third quarter worth about $245,000. 45.43% of the stock is owned by institutional investors.

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.