Wells Fargo & Company Issues Positive Forecast for Klaviyo (NYSE:KVYO) Stock Price

Klaviyo (NYSE:KVYO) had its price objective hoisted by stock analysts at Wells Fargo & Company from $22.00 to $24.00 in a report issued on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 16.26% from the company’s current price.

KVYO has been the subject of several other research reports. Weiss Ratings upgraded shares of Klaviyo from a “sell (d-)” rating to a “sell (d)” rating in a research report on Tuesday, September 8th. Stifel Nicolaus set a $22.00 target price on shares of Klaviyo in a research report on Thursday, September 10th. Mizuho set a $28.00 target price on shares of Klaviyo in a research report on Thursday, August 6th. Robert W. Baird set a $25.00 price objective on Klaviyo in a research report on Thursday, August 6th. Finally, Jefferies Financial Group restated a “buy” rating and set a $21.00 target price on shares of Klaviyo in a research note on Thursday, August 6th. Seventeen research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Klaviyo has a consensus rating of “Moderate Buy” and a consensus target price of $26.95.

Klaviyo Stock Up 2.3%

KVYO stock traded up $0.46 during midday trading on Wednesday, hitting $20.64. The company’s stock had a trading volume of 531,181 shares, compared to its average volume of 5,579,121. Klaviyo has a 12 month low of $12.53 and a 12 month high of $33.35. The company has a 50 day moving average of $17.68 and a two-hundred day moving average of $18.19. The firm has a market capitalization of $5.88 billion, a price-to-earnings ratio of 1,032.47 and a beta of 0.67.

Klaviyo (NYSE:KVYO) last released its earnings results on Wednesday, August 5th. The company reported $0.19 EPS for the quarter, hitting the consensus estimate of $0.19. The company had revenue of $370.58 million during the quarter, compared to analysts’ expectations of $362.08 million. During the same period last year, the firm posted $0.16 EPS. Klaviyo’s quarterly revenue was up 26.4% compared to the same quarter last year. On average, analysts anticipate that Klaviyo will post 0.20 earnings per share for the current fiscal year.

Insider Buying and Selling at Klaviyo

In other Klaviyo news, insider Landon Edmond sold 8,103 shares of the stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $20.44, for a total value of $165,625.32. Following the completion of the sale, the insider owned 477,866 shares in the company, valued at approximately $9,767,581.04. This represents a 1.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Summit Partners L. P sold 5,000,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $17.71, for a total transaction of $88,550,000.00. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 5,275,468 shares of company stock worth $93,822,653. 37.42% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Klaviyo

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

About Klaviyo

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.