Klaviyo (NYSE:KVYO) Given New $47.00 Price Target at Morgan Stanley

Klaviyo (NYSE:KVYO) had its target price raised by Morgan Stanley from $38.00 to $47.00 in a report released on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price target would suggest a potential upside of 21.26% from the company’s current price.

Other equities research analysts have also recently issued research reports about the company. Macquarie reiterated a “neutral” rating and set a $36.00 price objective on shares of Klaviyo in a research note on Friday, November 8th. Benchmark dropped their price target on Klaviyo from $42.00 to $40.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Piper Sandler increased their price target on Klaviyo from $45.00 to $50.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Cantor Fitzgerald increased their price target on Klaviyo from $33.00 to $47.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Finally, Stifel Nicolaus began coverage on Klaviyo in a research note on Tuesday, October 22nd. They issued a “buy” rating and a $45.00 price target on the stock. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $42.29.

Klaviyo Price Performance

NYSE:KVYO traded down $0.65 during trading hours on Monday, reaching $38.76. 267,097 shares of the stock were exchanged, compared to its average volume of 795,329. Klaviyo has a twelve month low of $21.26 and a twelve month high of $44.77. The firm has a 50 day moving average of $39.24 and a 200 day moving average of $33.91. The stock has a market cap of $10.45 billion, a PE ratio of -215.32 and a beta of 0.57.

Klaviyo (NYSE:KVYO) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.04. Klaviyo had a positive return on equity of 0.86% and a negative net margin of 5.23%. The company had revenue of $235.09 million for the quarter, compared to analysts’ expectations of $226.33 million. During the same quarter in the prior year, the business posted ($1.24) EPS. The business’s revenue was up 33.7% compared to the same quarter last year. Equities research analysts anticipate that Klaviyo will post 0.03 earnings per share for the current year.

Insider Transactions at Klaviyo

In related news, insider Landon Edmond sold 40,000 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $34.56, for a total value of $1,382,400.00. Following the sale, the insider now directly owns 236,621 shares of the company’s stock, valued at $8,177,621.76. This trade represents a 14.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Amanda Whalen sold 15,000 shares of the firm’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $39.18, for a total value of $587,700.00. Following the completion of the sale, the chief financial officer now directly owns 391,820 shares in the company, valued at $15,351,507.60. This trade represents a 3.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 172,650 shares of company stock valued at $6,582,805. 53.24% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Klaviyo

Large investors have recently bought and sold shares of the company. Lisanti Capital Growth LLC bought a new position in Klaviyo in the third quarter valued at about $5,513,000. Pier 88 Investment Partners LLC bought a new position in Klaviyo in the third quarter valued at about $966,000. SpiderRock Advisors LLC raised its position in Klaviyo by 1,571.7% in the third quarter. SpiderRock Advisors LLC now owns 501,500 shares of the company’s stock valued at $17,743,000 after purchasing an additional 471,500 shares during the last quarter. Integrated Wealth Concepts LLC bought a new position in Klaviyo in the third quarter valued at about $5,113,000. Finally, Canada Pension Plan Investment Board bought a new position in Klaviyo in the second quarter valued at about $747,000. 45.43% of the stock is currently owned by institutional investors.

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.