Klaviyo, Inc. (NYSE:KVYO – Get Free Report) hit a new 52-week low during mid-day trading on Thursday after Morgan Stanley lowered their price target on the stock from $37.00 to $32.00. Morgan Stanley currently has an equal weight rating on the stock. Klaviyo traded as low as $22.71 and last traded at $22.95, with a volume of 637391 shares changing hands. The stock had previously closed at $23.29.
A number of other research firms also recently weighed in on KVYO. Scotiabank began coverage on shares of Klaviyo in a research note on Tuesday, April 2nd. They set a “sector perform” rating and a $30.00 price target on the stock. Piper Sandler reissued an “overweight” rating and issued a $38.00 price objective on shares of Klaviyo in a research report on Wednesday, February 28th. FBN Securities started coverage on shares of Klaviyo in a report on Wednesday, March 20th. They set an “outperform” rating and a $35.00 price target for the company. Barclays lowered their price target on shares of Klaviyo from $37.00 to $32.00 and set an “equal weight” rating for the company in a report on Friday, January 12th. Finally, Cantor Fitzgerald initiated coverage on shares of Klaviyo in a report on Tuesday. They set an “overweight” rating and a $31.00 price target for the company. Five research 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 currently has a consensus rating of “Moderate Buy” and an average price target of $36.88.
Get Our Latest Stock Report on KVYO
Insider Transactions at Klaviyo
Institutional Trading of Klaviyo
Institutional investors and hedge funds have recently modified their holdings of the company. Salem Investment Counselors Inc. bought a new position in Klaviyo during the fourth quarter worth $25,000. New York State Common Retirement Fund bought a new position in Klaviyo during the third quarter worth $65,000. Tower Research Capital LLC TRC increased 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 period. Skylands Capital LLC bought a new position in Klaviyo during the third quarter worth $172,000. Finally, Deutsche Bank AG bought a new position in Klaviyo during the third quarter worth $172,000. 45.43% of the stock is currently owned by institutional investors and hedge funds.
Klaviyo Stock Performance
The stock’s 50-day moving average is $26.24 and its 200-day moving average is $27.75.
Klaviyo (NYSE:KVYO – Get Free Report) last announced its quarterly earnings results on Tuesday, February 27th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.02. The business had revenue of $201.62 million during the quarter, compared to the consensus estimate of $196.02 million. On average, analysts expect that Klaviyo, Inc. will post -0.27 EPS for the current fiscal year.
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.
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