Morgan Stanley Issues Positive Forecast for Klaviyo (NYSE:KVYO) Stock Price

Klaviyo (NYSE:KVYO) had its price target hoisted by Morgan Stanley from $47.00 to $50.00 in a research note released on Thursday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

KVYO has been the topic of several other research reports. Robert W. Baird raised their price target on shares of Klaviyo from $52.00 to $54.00 and gave the company an “outperform” rating in a research report on Thursday. Piper Sandler raised their target price on Klaviyo from $50.00 to $53.00 and gave the company an “overweight” rating in a research report on Thursday. Scotiabank lifted their price target on Klaviyo from $35.00 to $45.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 29th. William Blair reissued an “outperform” rating on shares of Klaviyo in a report on Thursday, December 19th. Finally, KeyCorp boosted their price objective on Klaviyo from $42.00 to $45.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.44.

Klaviyo Stock Down 5.6 %

Shares of KVYO stock opened at $41.79 on Thursday. Klaviyo has a 52-week low of $21.26 and a 52-week high of $49.55. The stock has a market cap of $11.27 billion, a PE ratio of -232.14 and a beta of 0.60. The business has a 50-day simple moving average of $43.72 and a 200-day simple moving average of $38.04.

Klaviyo (NYSE:KVYO) last announced its quarterly earnings results on Wednesday, February 19th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.12). The company had revenue of $270.16 million during the quarter, compared to analyst estimates of $257.24 million. Klaviyo had a negative net margin of 4.92% and a positive return on equity of 0.89%. Sell-side analysts anticipate that Klaviyo will post 0.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Klaviyo news, CFO Amanda Whalen sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $45.85, for a total value of $687,750.00. Following the transaction, the chief financial officer now directly owns 376,820 shares of the company’s stock, valued at $17,277,197. This trade represents a 3.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Stephen Eric Rowland sold 4,536 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $40.04, for a total value of $181,621.44. Following the transaction, the president now owns 260,403 shares in the company, valued at approximately $10,426,536.12. This represents a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 114,536 shares of company stock worth $4,720,953. 53.24% of the stock is owned by insiders.

Institutional Trading of Klaviyo

Hedge funds and other institutional investors have recently modified their holdings of the stock. Whale Rock Capital Management LLC grew its holdings in shares of Klaviyo by 608.9% in the third quarter. Whale Rock Capital Management LLC now owns 3,600,606 shares of the company’s stock valued at $127,389,000 after purchasing an additional 3,092,725 shares during the period. Focus Partners Wealth acquired a new position in Klaviyo in the 4th quarter valued at about $38,870,000. D. E. Shaw & Co. Inc. boosted its holdings in Klaviyo by 195.4% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,310,227 shares of the company’s stock valued at $54,034,000 after purchasing an additional 866,749 shares during the last quarter. Lord Abbett & CO. LLC purchased a new stake in shares of Klaviyo in the 4th quarter valued at approximately $30,851,000. Finally, Ameriprise Financial Inc. increased its holdings in shares of Klaviyo by 229.5% during the 4th quarter. Ameriprise Financial Inc. now owns 982,134 shares of the company’s stock worth $40,507,000 after buying an additional 684,026 shares during the last quarter. 45.43% of the stock is owned by institutional investors and hedge funds.

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.