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

Klaviyo (NYSE:KVYO) had its target price trimmed by Morgan Stanley from $37.00 to $32.00 in a research report released on Wednesday, Benzinga reports. The firm currently has an equal weight rating on the stock.

A number of other brokerages have also issued reports on KVYO. The Goldman Sachs Group upgraded Klaviyo from a neutral rating to a buy rating and set a $36.00 price target for the company in a research report on Monday, February 5th. FBN Securities assumed coverage on Klaviyo in a research report on Wednesday, March 20th. They set an outperform rating and a $35.00 price target for the company. William Blair reiterated an outperform rating on shares of Klaviyo in a research report on Wednesday, February 28th. Piper Sandler reiterated an overweight rating and set a $38.00 price target on shares of Klaviyo in a research report on Wednesday, February 28th. 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 equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $36.88.

Klaviyo Stock Performance

Shares of KVYO opened at $23.29 on Wednesday. The stock has a fifty day moving average price of $26.34 and a 200 day moving average price of $27.79. Klaviyo has a 12 month low of $22.82 and a 12 month high of $39.47.

Klaviyo (NYSE:KVYO) last issued its quarterly earnings data on Tuesday, February 27th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. The company had revenue of $201.62 million for the quarter, compared to the consensus estimate of $196.02 million. On average, equities analysts forecast that Klaviyo will post -0.27 EPS for the current fiscal year.

Insider Transactions at Klaviyo

In other news, insider Landon Edmond sold 3,545 shares of the business’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $24.15, for a total transaction of $85,611.75. Following the sale, the insider now directly owns 167,127 shares of the company’s stock, valued at $4,036,117.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Summit Partners L P acquired a new position in Klaviyo during the third quarter valued at $1,708,162,000. Clearbridge Investments LLC raised its position in Klaviyo by 16.6% during the fourth quarter. Clearbridge Investments LLC now owns 2,174,097 shares of the company’s stock valued at $60,396,000 after buying an additional 309,864 shares during the period. Vanguard Group Inc. raised its position in Klaviyo by 45.6% during the fourth quarter. Vanguard Group Inc. now owns 2,103,713 shares of the company’s stock valued at $58,441,000 after buying an additional 659,279 shares during the period. JPMorgan Chase & Co. acquired a new position in Klaviyo in the 3rd quarter worth about $52,204,000. Finally, Goldman Sachs Group Inc. increased its position in Klaviyo by 243.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,472,140 shares of the company’s stock worth $40,896,000 after purchasing an additional 1,042,902 shares during the last quarter. 45.43% of the stock is owned by institutional investors and hedge funds.

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.