Morgan Stanley Boosts Klaviyo (NYSE:KVYO) Price Target to $50.00

Klaviyo (NYSE:KVYO) had its price objective upped by equities researchers at Morgan Stanley from $47.00 to $50.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s target price indicates a potential upside of 19.66% from the stock’s current price.

A number of other equities research analysts have also issued reports on the company. Benchmark upped their target price on Klaviyo from $40.00 to $51.00 and gave the company a “buy” rating in a research note on Wednesday. Loop Capital boosted their price target on Klaviyo from $45.00 to $60.00 and gave the company a “buy” rating in a report on Monday, December 23rd. Needham & Company LLC boosted their price target on Klaviyo from $46.00 to $56.00 and gave the company a “buy” rating in a report on Thursday. Robert W. Baird boosted their price target on Klaviyo from $52.00 to $54.00 and gave the company an “outperform” rating in a report on Thursday. Finally, Wells Fargo & Company cut their price target on Klaviyo from $48.00 to $45.00 and set an “equal weight” rating for the company in a report on Thursday. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Klaviyo has an average rating of “Moderate Buy” and a consensus price target of $49.44.

Klaviyo Stock Performance

KVYO stock opened at $41.79 on Thursday. Klaviyo has a 1 year low of $21.26 and a 1 year high of $49.55. The stock’s 50 day moving average price is $43.72 and its 200 day moving average price is $37.92. The firm has a market cap of $11.27 billion, a P/E ratio of -232.14 and a beta of 0.60.

Klaviyo (NYSE:KVYO) last posted 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). Klaviyo had a negative net margin of 4.92% and a positive return on equity of 0.90%. The company had revenue of $270.16 million during the quarter, compared to analysts’ expectations of $257.24 million. On average, research analysts predict that Klaviyo will post 0.04 earnings per share for the current year.

Insider Transactions at Klaviyo

In other news, CFO Amanda Whalen sold 15,000 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $45.85, for a total transaction of $687,750.00. Following the completion of the sale, the chief financial officer now directly owns 376,820 shares in the company, valued at $17,277,197. This trade represents a 3.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Landon Edmond sold 40,000 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $12,481,772.60. This represents a 11.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 114,536 shares of company stock worth $4,720,953 in the last ninety days. Insiders own 53.24% of the company’s stock.

Institutional Trading of Klaviyo

Large investors have recently modified their holdings of the business. Advisors Asset Management Inc. grew its stake in Klaviyo by 145.6% in the third quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company’s stock worth $48,000 after purchasing an additional 808 shares in the last quarter. CIBC Private Wealth Group LLC grew its stake in Klaviyo by 169.5% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,752 shares of the company’s stock worth $72,000 after purchasing an additional 1,102 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in Klaviyo by 77.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,874 shares of the company’s stock worth $77,000 after purchasing an additional 818 shares in the last quarter. West Tower Group LLC acquired a new position in Klaviyo in the third quarter worth about $177,000. Finally, SBI Securities Co. Ltd. acquired a new position in Klaviyo in the fourth quarter worth about $196,000. 45.43% of the stock is currently 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.