Wells Fargo & Company Lowers Klaviyo Price Target to $45.00

Klaviyo (NYSE:KVYO) recently saw its price target reduced by Wells Fargo & Company, which has adjusted its pricing objective from $48.00 to $45.00. This update, released in a research report on Thursday, labeled the stock with an "equal weight" rating.

The new price target from Wells Fargo suggests a potential decline of about 4.13% from Klaviyo's current trading price. This change is part of a broader analysis of the company's stock, which has caught the attention of various market analysts.

Research Insights

In addition to Wells Fargo's rating, several other research entities have also expressed their views on Klaviyo's performance. Needham & Company LLC recently increased their price objective for Klaviyo from $46.00 to $56.00, opting for a "buy" recommendation. Meanwhile, Macquarie maintained a "neutral" rating while setting a target price at $36.00 in their report from November 8th.

Furthermore, Canaccord Genuity Group raised its price objective from $32.00 to $40.00, also recommending a "buy" stance. Piper Sandler similarly boosted their target from $50.00 to $53.00 while giving an "overweight" rating on Thursday. Similarly, Loop Capital has set a target of $60.00 with a "buy" rating, reflecting a generally positive outlook from these firms.

Overall, five analysts have rated Klaviyo's stock with a hold recommendation, while thirteen have assigned it a buy rating. According to MarketBeat data, the consensus rating stands at a "Moderate Buy" along with an average target price of $45.53.

Klaviyo Stock Overview

On Thursday, shares of Klaviyo opened at $46.94. The stock is currently positioned with a 50-day moving average of $43.56 and a 200-day moving average of $37.75. Klaviyo boasts a market capitalization of $12.66 billion, with a PE ratio of -260.76 and a beta of 0.60. In the past year, Klaviyo's stock has experienced significant volatility, marked by a 52-week low of $21.26 and a high of $49.55.

Recent Performance and Earnings

The company's latest earnings report was released on February 19th, where Klaviyo reported a loss of $0.06 in earnings per share, falling short of the expected $0.06 by a margin of $0.12. The company recorded a positive return on equity of 0.86%, but noted a negative net margin of 5.23%. Analysts predict that Klaviyo will achieve earnings of $0.03 per share in the current fiscal year.

Insider Transactions

Recent insider activity at Klaviyo has also been noteworthy. Chief Financial Officer Amanda Whalen sold 15,000 shares on February 3rd, fetching an average price of $45.85, summing to a total of $687,750. Following this sale, she holds 376,820 shares valued at approximately $17.27 million, which marks a 3.83% decrease in her ownership.

In another transaction, insider Landon Edmond sold 40,000 shares on January 7th at an average price of $41.80, amounting to $1.67 million. After this transaction, Edmond retains 298,607 shares worth around $12.48 million, reflecting an 11.81% decrease in his stake. Over the past ninety days, insiders have offloaded 114,536 shares totalling $4.72 million in sales, with corporate insiders holding 53.24% of the company's stock.

Institutional Investors' Activity

Several institutional investors have made significant moves with Klaviyo shares recently. For instance, Lisanti Capital Growth LLC invested about $5.51 million in a new stake during the third quarter. Pier 88 Investment Partners LLC also acquired shares worth approximately $966,000 in the same quarter. SpiderRock Advisors LLC notably increased its holdings by 1,571.7%, gaining 471,500 shares to total 501,500 shares valued at around $17.74 million.

Integrated Wealth Concepts LLC and Renaissance Capital LLC also purchased new stakes, reflecting the growing interest from institutional investors, who currently own 45.43% of Klaviyo's stock. This activity indicates a robust engagement from both individual investors and institutional players in Klaviyo's market presence.

Company Profile

Klaviyo, Inc. operates as a technology company, providing a software-as-a-service platform that serves clients across the Americas, Asia-Pacific, Europe, and the Middle East. Its flagship product is Klaviyo, a cloud-native platform designed for data storage, segmentation, and messaging solutions.

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