Morgan Stanley Forecasts Strong Price Appreciation for Klaviyo (NYSE:KVYO) Stock

Klaviyo (NYSE:KVYO) had its target price upped by Morgan Stanley from $47.00 to $50.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price target would suggest a potential upside of 19.66% from the company’s current price.

Several other research firms have also issued reports on KVYO. Needham & Company LLC lifted their price target on shares of Klaviyo from $46.00 to $56.00 and gave the stock a “buy” rating in a research report on Thursday. Cantor Fitzgerald lifted their price objective on shares of Klaviyo from $47.00 to $54.00 and gave the stock an “overweight” rating in a research report on Thursday. Wells Fargo & Company lowered their price objective on shares of Klaviyo from $48.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Thursday. Benchmark lifted their price objective on shares of Klaviyo from $40.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Scotiabank lifted their price objective on shares of Klaviyo from $35.00 to $45.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 29th. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Klaviyo currently has a consensus rating of “Moderate Buy” and an average target price of $49.44.

Klaviyo Stock Down 5.6 %

Shares of NYSE KVYO opened at $41.79 on Thursday. The firm’s 50-day moving average price is $43.72 and its two-hundred day moving average price is $37.92. Klaviyo has a 52-week low of $21.26 and a 52-week high of $49.55. The stock has a market capitalization of $11.27 billion, a P/E ratio of -232.14 and a beta of 0.60.

Klaviyo (NYSE:KVYO) last issued its 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 business had revenue of $270.16 million during the quarter, compared to the consensus estimate of $257.24 million. Klaviyo had a positive return on equity of 0.90% and a negative net margin of 4.92%. As a group, equities research analysts expect that Klaviyo will post 0.04 earnings per share for the current year.

Insider Activity at Klaviyo

In related news, CFO Amanda Whalen sold 1,050 shares of Klaviyo stock in a transaction on Monday, December 9th. The shares were sold at an average price of $40.07, for a total value of $42,073.50. Following the completion of the sale, the chief financial officer now owns 395,616 shares of the company’s stock, valued at approximately $15,852,333.12. The trade was a 0.26 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Landon Edmond sold 40,000 shares of Klaviyo stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $41.80, for a total transaction of $1,672,000.00. Following the completion of the sale, the insider now directly owns 298,607 shares of the company’s stock, valued at approximately $12,481,772.60. The trade was a 11.81 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 114,536 shares of company stock valued at $4,720,953. Insiders own 53.24% of the company’s stock.

Institutional Investors Weigh In On Klaviyo

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted 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 acquiring an additional 646,628 shares during the last quarter. Whale Rock Capital Management LLC lifted its position in Klaviyo by 7.4% during the 4th quarter. Whale Rock Capital Management LLC now owns 3,868,451 shares of the company’s stock worth $159,535,000 after acquiring an additional 267,845 shares during the last quarter. Bank of New York Mellon Corp lifted its position in 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 worth $120,676,000 after acquiring an additional 140,127 shares during the last quarter. Clearbridge Investments LLC lifted its position in Klaviyo by 0.9% during the 4th quarter. Clearbridge Investments LLC now owns 2,168,336 shares of the company’s stock worth $89,422,000 after acquiring an additional 19,567 shares during the last quarter. Finally, Franklin Resources Inc. lifted its position in Klaviyo by 48.6% during the 4th quarter. Franklin Resources Inc. now owns 1,943,523 shares of the company’s stock worth $80,151,000 after acquiring an additional 635,962 shares during the last quarter. 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.