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

Klaviyo (NYSE:KVYO) had its price target dropped by equities researchers at Morgan Stanley from $37.00 to $32.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s target price points to a potential upside of 36.34% from the company’s previous close.

A number of other equities analysts also recently commented on the stock. KeyCorp began coverage on shares of Klaviyo in a research report on Thursday, March 21st. They issued a “sector weight” rating for the company. Barclays reduced their price target on shares of Klaviyo from $37.00 to $32.00 and set an “equal weight” rating for the company in a research report on Friday, January 12th. FBN Securities began coverage on shares of Klaviyo in a research report on Wednesday, March 20th. They issued an “outperform” rating and a $35.00 price target for the company. Needham & Company LLC reissued a “buy” rating and issued a $40.00 price target on shares of Klaviyo in a research report on Wednesday, February 28th. Finally, The Goldman Sachs Group raised shares of Klaviyo from a “neutral” rating to a “buy” rating and set a $36.00 price target for the company in a research report on Monday, February 5th. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $36.88.

Klaviyo Stock Performance

Shares of KVYO stock traded down $0.36 on Wednesday, reaching $23.47. 909,734 shares of the stock were exchanged, compared to its average volume of 1,164,877. The business’s 50 day moving average price is $26.43 and its 200 day moving average price is $27.82. Klaviyo has a twelve month low of $22.82 and a twelve month high of $39.47.

Klaviyo (NYSE:KVYO) last issued its earnings results on Tuesday, February 27th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. The firm had revenue of $201.62 million for the quarter, compared to analyst estimates of $196.02 million. Sell-side analysts predict that Klaviyo will post -0.27 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Landon Edmond sold 3,545 shares of the stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $24.15, for a total value of $85,611.75. Following the sale, the insider now directly owns 167,127 shares in the company, valued at $4,036,117.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Institutional Trading of Klaviyo

A number of hedge funds have recently bought and sold shares of the company. Salem Investment Counselors Inc. acquired a new stake in Klaviyo during the fourth quarter worth approximately $25,000. New York State Common Retirement Fund acquired a new stake in Klaviyo during the third quarter worth approximately $65,000. Royal Bank of Canada boosted its position in Klaviyo by 165.8% during the fourth quarter. Royal Bank of Canada now owns 6,476 shares of the company’s stock worth $180,000 after acquiring an additional 4,040 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in Klaviyo by 20,305.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,081 shares of the company’s stock worth $113,000 after acquiring an additional 4,061 shares during the last quarter. Finally, Deutsche Bank AG purchased a new position in Klaviyo during the third quarter worth approximately $172,000. Institutional investors and hedge funds own 45.43% of the company’s stock.

Klaviyo Company Profile

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.