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

Klaviyo (NYSE:KVYO) had its price objective cut by investment analysts 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 price target suggests a potential upside of 36.34% from the stock’s current price.

A number of other equities research analysts also recently weighed in on the company. Barclays lowered their target price on Klaviyo from $37.00 to $32.00 and set an “equal weight” rating for the company in a report on Friday, January 12th. William Blair reiterated an “outperform” rating on shares of Klaviyo in a report on Wednesday, February 28th. The Goldman Sachs Group upgraded Klaviyo from a “neutral” rating to a “buy” rating and set a $36.00 target price for the company in a report on Monday, February 5th. Needham & Company LLC reiterated a “buy” rating and issued a $40.00 target price on shares of Klaviyo in a report on Wednesday, February 28th. Finally, Scotiabank initiated coverage on Klaviyo in a report on Tuesday, April 2nd. They issued a “sector perform” rating and a $30.00 target price for the company. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, Klaviyo has an average rating of “Moderate Buy” and an average price target of $36.88.

Klaviyo Price Performance

Shares of KVYO traded down $0.36 during mid-day trading on Wednesday, reaching $23.47. 909,734 shares of the company were exchanged, compared to its average volume of 1,164,877. Klaviyo has a 52 week low of $22.82 and a 52 week high of $39.47. The business has a 50 day simple moving average of $26.43 and a two-hundred day simple moving average of $27.82.

Klaviyo (NYSE:KVYO) last issued its quarterly earnings data on Tuesday, February 27th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. The company had revenue of $201.62 million for the quarter, compared to the consensus estimate of $196.02 million. As a group, equities research analysts anticipate that Klaviyo will post -0.27 earnings per share for the current year.

Insider Activity at Klaviyo

In related news, insider Landon Edmond sold 3,545 shares of the stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $24.15, for a total transaction of $85,611.75. Following the completion of the sale, the insider now directly owns 167,127 shares in the company, valued at approximately $4,036,117.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Summit Partners L P bought a new position in Klaviyo during the 3rd quarter valued at approximately $1,708,162,000. Clearbridge Investments LLC bought a new position in Klaviyo during the 3rd quarter valued at approximately $64,316,000. JPMorgan Chase & Co. purchased a new stake in Klaviyo during the 3rd quarter valued at $52,204,000. Vanguard Group Inc. purchased a new stake in Klaviyo during the 3rd quarter valued at $49,833,000. Finally, Goldman Sachs Group Inc. boosted its stake in Klaviyo by 243.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,472,140 shares of the company’s stock valued at $40,896,000 after purchasing an additional 1,042,902 shares during the last quarter. Institutional investors 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.