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

Klaviyo (NYSE:KVYO) had its price objective dropped by analysts at Wells Fargo & Company from $45.00 to $26.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 5.31% from the company’s previous close.

Several other analysts also recently commented on KVYO. Loop Capital upped their price target 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. Mizuho reduced their target price on shares of Klaviyo from $52.00 to $40.00 and set an “outperform” rating for the company in a report on Tuesday, April 15th. Canaccord Genuity Group boosted their price target on Klaviyo from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. William Blair reaffirmed an “outperform” rating on shares of Klaviyo in a research note on Thursday, February 20th. Finally, Needham & Company LLC lifted their target price on Klaviyo from $46.00 to $56.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.05.

Klaviyo Stock Performance

KVYO stock opened at $24.69 on Tuesday. The firm has a market cap of $6.74 billion, a PE ratio of -137.17 and a beta of 1.39. Klaviyo has a one year low of $21.26 and a one year high of $49.55. The firm’s 50 day moving average price is $33.98 and its 200-day moving average price is $38.00.

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

Insider Transactions at Klaviyo

In other Klaviyo news, CFO Amanda Whalen sold 15,000 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $45.85, for a total value of $687,750.00. Following the sale, the chief financial officer now directly owns 376,820 shares of the company’s stock, valued at approximately $17,277,197. This trade represents a 3.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Stephen Eric Rowland sold 7,060 shares of the company’s stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $26.66, for a total transaction of $188,219.60. Following the transaction, the president now directly owns 447,310 shares of the company’s stock, valued at approximately $11,925,284.60. This represents a 1.55 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,088,770 shares of company stock worth $67,947,356 over the last ninety days. 53.24% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Klaviyo

A number of institutional investors have recently added to or reduced their stakes in the company. Focus Partners Wealth purchased a new stake in shares of Klaviyo during the 4th quarter worth about $38,870,000. D. E. Shaw & Co. Inc. raised its stake in shares of Klaviyo by 195.4% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,310,227 shares of the company’s stock valued at $54,034,000 after acquiring an additional 866,749 shares during the period. Lord Abbett & CO. LLC purchased a new stake in shares of Klaviyo in the fourth quarter worth about $30,851,000. Ameriprise Financial Inc. boosted its holdings in Klaviyo by 229.5% in 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. grew its position in Klaviyo by 9.1% in the fourth 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 in the last quarter. Hedge funds and other 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.