Morgan Stanley Lowers Klaviyo (NYSE:KVYO) Price Target to $32.00

Klaviyo (NYSE:KVYO) had its price objective dropped by research analysts at Morgan Stanley from $37.00 to $32.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s target price would indicate a potential upside of 40.29% from the stock’s current price.

Several other brokerages also recently weighed in on KVYO. William Blair reaffirmed an “outperform” rating on shares of Klaviyo in a research note on Wednesday, February 28th. Needham & Company LLC reiterated a “buy” rating and set a $40.00 price target on shares of Klaviyo in a research report on Wednesday, February 28th. KeyCorp assumed coverage on Klaviyo in a research report on Thursday, March 21st. They set a “sector weight” rating on the stock. The Goldman Sachs Group upgraded Klaviyo from a “neutral” rating to a “buy” rating and set a $36.00 price target on the stock in a research report on Monday, February 5th. Finally, Cantor Fitzgerald began coverage on Klaviyo in a report on Tuesday. They issued an “overweight” rating and a $31.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, Klaviyo presently has a consensus rating of “Moderate Buy” and an average target price of $36.88.

Klaviyo Price Performance

Shares of NYSE KVYO opened at $22.81 on Wednesday. The stock’s 50 day simple moving average is $26.24 and its 200 day simple moving average is $27.75. Klaviyo has a 12-month low of $22.71 and a 12-month high of $39.47.

Klaviyo (NYSE:KVYO) last announced its earnings results on Tuesday, February 27th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.02. The business had revenue of $201.62 million for the quarter, compared to the consensus estimate of $196.02 million. Sell-side analysts expect that Klaviyo will post -0.27 earnings per share for the current year.

Insider Transactions at Klaviyo

In other news, insider Landon Edmond sold 3,545 shares of the firm’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $24.15, for a total value of $85,611.75. Following the completion of the sale, the insider now owns 167,127 shares of the company’s stock, valued at $4,036,117.05. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Institutional Trading of Klaviyo

Hedge funds and other institutional investors have recently modified their holdings of the business. Summit Partners L P acquired a new stake in Klaviyo during the third quarter valued at $1,708,162,000. Clearbridge Investments LLC bought a new position in Klaviyo during the third quarter valued at about $64,316,000. JPMorgan Chase & Co. bought a new position in Klaviyo during the third quarter valued at about $52,204,000. Vanguard Group Inc. bought a new position in Klaviyo during the third quarter valued at about $49,833,000. Finally, Goldman Sachs Group Inc. increased its stake in Klaviyo by 243.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,472,140 shares of the company’s stock valued at $40,896,000 after acquiring an additional 1,042,902 shares during the period. 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.