Klaviyo (NYSE:KVYO) Price Target Lowered to $26.00 at Wells Fargo & Company

Klaviyo (NYSE:KVYO) had its price target decreased by equities research analysts at Wells Fargo & Company from $45.00 to $26.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target suggests a potential downside of 0.88% from the stock’s previous close.

KVYO has been the subject of several other reports. Canaccord Genuity Group increased their price objective on Klaviyo from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Barclays cut their target price on shares of Klaviyo from $51.00 to $35.00 and set an “overweight” rating for the company in a research note on Monday. The Goldman Sachs Group raised their price target on shares of Klaviyo from $45.00 to $51.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Mizuho cut their price objective on shares of Klaviyo from $52.00 to $40.00 and set an “outperform” rating for the company in a research report on Tuesday, April 15th. Finally, Truist Financial decreased their target price on Klaviyo from $55.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, April 16th. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $44.21.

Klaviyo Trading Up 7.3 %

NYSE:KVYO opened at $26.23 on Tuesday. The firm has a market capitalization of $7.16 billion, a PE ratio of -145.72 and a beta of 1.39. Klaviyo has a 1 year low of $21.26 and a 1 year high of $49.55. The firm’s fifty day simple moving average is $33.09 and its 200 day simple moving average is $37.82.

Klaviyo (NYSE:KVYO) last posted its quarterly earnings data on Wednesday, February 19th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.12). Klaviyo had a positive return on equity of 0.89% and a negative net margin of 4.92%. The business had revenue of $270.16 million during the quarter, compared to the consensus estimate of $257.24 million. As a group, analysts anticipate that Klaviyo will post 0.04 EPS for the current fiscal year.

Insider Activity at Klaviyo

In other Klaviyo news, President Stephen Eric Rowland sold 36,710 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $35.08, for a total transaction of $1,287,786.80. Following the sale, the president now owns 246,254 shares of the company’s stock, valued at $8,638,590.32. This represents a 12.97 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Amanda Whalen sold 15,000 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was 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 directly owns 376,820 shares of the company’s stock, valued at approximately $17,277,197. This represents a 3.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,088,770 shares of company stock valued at $67,947,356 in the last ninety days. Insiders own 53.24% of the company’s stock.

Institutional Trading of Klaviyo

Hedge funds and other institutional investors have recently modified their holdings of the stock. Focus Partners Wealth bought a new position in shares of Klaviyo in the 4th quarter valued at about $38,870,000. D. E. Shaw & Co. Inc. lifted its holdings in Klaviyo by 195.4% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,310,227 shares of the company’s stock valued at $54,034,000 after buying an additional 866,749 shares during the period. Lord Abbett & CO. LLC bought a new position in Klaviyo in the fourth quarter valued at approximately $30,851,000. Ameriprise Financial Inc. grew its holdings in Klaviyo by 229.5% during the 4th quarter. Ameriprise Financial Inc. now owns 982,134 shares of the company’s stock worth $40,507,000 after acquiring an additional 684,026 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of Klaviyo by 9.1% during the 4th quarter. Vanguard Group Inc. now owns 7,721,855 shares of the company’s stock valued at $318,449,000 after acquiring an additional 646,628 shares during the last quarter. Institutional investors and hedge funds 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.