Klaviyo (NYSE:KVYO) Given New $47.00 Price Target at Morgan Stanley

Klaviyo (NYSE:KVYO) had its target price increased by equities research analysts at Morgan Stanley from $38.00 to $47.00 in a report released on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s target price indicates a potential upside of 21.26% from the stock’s current price.

A number of other research firms have also commented on KVYO. Wells Fargo & Company upped their price objective on shares of Klaviyo from $37.00 to $41.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 7th. Loop Capital upped their price objective on shares of Klaviyo from $45.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, December 23rd. Robert W. Baird upped their target price on Klaviyo from $42.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Needham & Company LLC upped their target price on Klaviyo from $40.00 to $46.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Canaccord Genuity Group upped their target price on Klaviyo from $32.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $42.29.

Klaviyo Stock Performance

NYSE KVYO traded down $0.65 on Monday, reaching $38.76. The company’s stock had a trading volume of 267,097 shares, compared to its average volume of 795,329. Klaviyo has a twelve month low of $21.26 and a twelve month high of $44.77. The stock has a market cap of $10.45 billion, a PE ratio of -215.32 and a beta of 0.57. The firm’s 50 day moving average is $39.24 and its two-hundred day moving average is $33.91.

Klaviyo (NYSE:KVYO) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.04. Klaviyo had a negative net margin of 5.23% and a positive return on equity of 0.86%. The company had revenue of $235.09 million during the quarter, compared to analyst estimates of $226.33 million. During the same period in the prior year, the firm earned ($1.24) earnings per share. The business’s quarterly revenue was up 33.7% on a year-over-year basis. Equities research analysts anticipate that Klaviyo will post 0.03 EPS for the current fiscal year.

Insider Activity

In other news, insider Landon Edmond sold 40,000 shares of the firm’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $41.80, for a total value of $1,672,000.00. Following the sale, the insider now owns 298,607 shares in the company, valued at approximately $12,481,772.60. This trade represents a 11.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Amanda Whalen sold 15,000 shares of the firm’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $39.18, for a total transaction of $587,700.00. Following the completion of the sale, the chief financial officer now owns 391,820 shares in the company, valued at approximately $15,351,507.60. The trade was a 3.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 172,650 shares of company stock valued at $6,582,805 over the last 90 days. 53.24% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Klaviyo

Institutional investors have recently bought and sold shares of the business. Lisanti Capital Growth LLC acquired a new stake in Klaviyo during the third quarter worth $5,513,000. Pier 88 Investment Partners LLC acquired a new stake in Klaviyo during the third quarter worth $966,000. SpiderRock Advisors LLC boosted its stake in Klaviyo by 1,571.7% during the third quarter. SpiderRock Advisors LLC now owns 501,500 shares of the company’s stock worth $17,743,000 after buying an additional 471,500 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in Klaviyo during the third quarter worth $5,113,000. Finally, Canada Pension Plan Investment Board acquired a new stake in Klaviyo during the second quarter worth $747,000. 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.