Klaviyo (NYSE:KVYO) Given New $50.00 Price Target at Morgan Stanley

Klaviyo (NYSE:KVYO) had its target price boosted by Morgan Stanley from $47.00 to $50.00 in a report issued on Thursday morning,Benzinga reports. They currently have an equal weight rating on the stock.

KVYO has been the subject of several other reports. KeyCorp upped their target price on Klaviyo from $42.00 to $45.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Piper Sandler lifted their price target on Klaviyo from $50.00 to $53.00 and gave the stock an “overweight” rating in a research note on Thursday. Needham & Company LLC boosted their price target on shares of Klaviyo from $46.00 to $56.00 and gave the company a “buy” rating in a report on Thursday. Canaccord Genuity Group increased their price target on Klaviyo from $32.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Scotiabank boosted their price objective on Klaviyo from $35.00 to $45.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 29th. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $49.44.

Klaviyo Trading Down 5.9 %

KVYO opened at $44.23 on Thursday. Klaviyo has a one year low of $21.26 and a one year high of $49.55. The business’s 50-day simple moving average is $43.66 and its 200-day simple moving average is $37.80.

Klaviyo (NYSE:KVYO) last posted its quarterly earnings results on Wednesday, February 19th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.12). Klaviyo had a negative net margin of 4.92% and a positive return on equity of 0.90%. The business had revenue of $270.16 million during the quarter, compared to analysts’ expectations of $257.24 million. On average, analysts expect that Klaviyo will post 0.04 earnings per share for the current year.

Insider Activity

In other Klaviyo news, CFO Amanda Whalen sold 23,950 shares of the stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $40.04, for a total transaction of $958,958.00. Following the sale, the chief financial officer now directly owns 395,616 shares in the company, valued at $15,840,464.64. This represents a 5.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Stephen Eric Rowland sold 4,536 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $40.04, for a total transaction of $181,621.44. Following the completion of the transaction, the president now owns 260,403 shares of the company’s stock, valued at $10,426,536.12. The trade was a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 114,536 shares of company stock valued at $4,720,953. 53.24% of the stock is owned by company insiders.

Institutional Investors Weigh In On Klaviyo

Large investors have recently modified their holdings of the business. Vanguard Group Inc. increased its position in Klaviyo by 9.1% during the 4th quarter. Vanguard Group Inc. now owns 7,721,855 shares of the company’s stock worth $318,449,000 after purchasing an additional 646,628 shares in the last quarter. Whale Rock Capital Management LLC lifted its stake in shares of Klaviyo by 7.4% in the 4th quarter. Whale Rock Capital Management LLC now owns 3,868,451 shares of the company’s stock valued at $159,535,000 after acquiring an additional 267,845 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Klaviyo by 5.0% during the 4th quarter. Bank of New York Mellon Corp now owns 2,926,187 shares of the company’s stock valued at $120,676,000 after acquiring an additional 140,127 shares in the last quarter. Clearbridge Investments LLC increased its stake in shares of Klaviyo by 0.9% in the fourth quarter. Clearbridge Investments LLC now owns 2,168,336 shares of the company’s stock valued at $89,422,000 after buying an additional 19,567 shares during the period. Finally, Franklin Resources Inc. increased its position in Klaviyo by 48.6% in the 4th quarter. Franklin Resources Inc. now owns 1,943,523 shares of the company’s stock valued at $80,151,000 after acquiring an additional 635,962 shares during the period. Institutional investors and hedge funds own 45.43% of the company’s stock.

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.