Klaviyo (NYSE:KVYO) Given New $32.00 Price Target at Morgan Stanley

Klaviyo (NYSE:KVYO) had its price objective decreased by Morgan Stanley from $37.00 to $32.00 in a research note published on Wednesday morning, Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

A number of other research firms have also recently issued reports on KVYO. KeyCorp assumed coverage on shares of Klaviyo in a research note on Thursday, March 21st. They issued a sector weight rating on the stock. Cantor Fitzgerald assumed coverage on shares of Klaviyo in a research note on Tuesday. They issued an overweight rating and a $31.00 price target on the stock. Piper Sandler reissued an overweight rating and issued a $38.00 price target on shares of Klaviyo in a research note on Wednesday, February 28th. Scotiabank began coverage on Klaviyo in a report on Tuesday, April 2nd. They issued a sector perform rating and a $30.00 price objective on the stock. Finally, Needham & Company LLC restated a buy rating and issued a $40.00 price objective on shares of Klaviyo in a report on Wednesday, February 28th. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Klaviyo currently has an average rating of Moderate Buy and an average target price of $36.88.

Klaviyo Stock Down 2.3 %

Shares of NYSE KVYO opened at $23.29 on Wednesday. The firm’s 50 day simple moving average is $26.34 and its 200-day simple moving average is $27.79. Klaviyo has a 12 month low of $22.82 and a 12 month high of $39.47.

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

Insider Activity at Klaviyo

In related news, insider Landon Edmond sold 3,545 shares of the business’s stock in a transaction dated 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 approximately $4,036,117.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Institutional Trading of Klaviyo

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Salem Investment Counselors Inc. acquired a new position in Klaviyo in the 4th quarter valued at about $25,000. New York State Common Retirement Fund acquired a new position in Klaviyo in the 3rd quarter valued at about $65,000. Tower Research Capital LLC TRC grew its position in Klaviyo by 20,305.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,081 shares of the company’s stock valued at $113,000 after acquiring an additional 4,061 shares in the last quarter. Skylands Capital LLC acquired a new position in Klaviyo in the 3rd quarter valued at about $172,000. Finally, Deutsche Bank AG acquired a new position in Klaviyo in the 3rd quarter valued at about $172,000. 45.43% of the stock is currently owned by hedge funds and other institutional investors.

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.